Lineage, Inc. $LINE Shares Sold by Royal Bank of Canada

Royal Bank of Canada lowered its stake in Lineage, Inc. (NASDAQ:LINE) by 99.7% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,397 shares of the company’s stock after selling 433,756 shares during the quarter. Royal Bank of Canada’s holdings in Lineage were worth $46,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in Lineage during the fourth quarter worth $482,255,000. Darlington Partners Capital Management LP lifted its position in shares of Lineage by 45.5% in the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after acquiring an additional 1,605,810 shares in the last quarter. Morgan Stanley boosted its stake in shares of Lineage by 378.6% during the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock valued at $175,607,000 after acquiring an additional 3,968,958 shares during the last quarter. State Street Corp boosted its stake in shares of Lineage by 8.9% during the second quarter. State Street Corp now owns 1,780,270 shares of the company’s stock valued at $78,402,000 after acquiring an additional 145,742 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Lineage by 27.8% during the fourth quarter. Geode Capital Management LLC now owns 1,459,422 shares of the company’s stock valued at $51,086,000 after acquiring an additional 317,646 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently weighed in on LINE shares. Wells Fargo & Company boosted their target price on shares of Lineage from $36.00 to $38.00 and gave the company an “equal weight” rating in a research note on Tuesday. Piper Sandler decreased their price target on shares of Lineage from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. The Goldman Sachs Group set a $53.00 price target on shares of Lineage in a report on Wednesday, August 12th. Evercore set a $44.00 price objective on shares of Lineage in a research report on Monday, June 8th. Finally, Robert W. Baird set a $43.00 price objective on shares of Lineage in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.20.

Insider Transactions at Lineage

In related news, CFO Robb A. Lemasters bought 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were acquired at an average cost of $41.33 per share, with a total value of $826,600.00. Following the completion of the transaction, the chief financial officer owned 49,500 shares of the company’s stock, valued at approximately $2,045,835. The trade was a 67.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Kevin Patrick Marchetti bought 25,000 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average price of $39.50 per share, with a total value of $987,500.00. Following the completion of the acquisition, the chairman owned 138,690 shares of the company’s stock, valued at $5,478,255. This trade represents a 21.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 71.60% of the company’s stock.

Lineage Price Performance

Shares of NASDAQ:LINE opened at $38.78 on Thursday. The company has a market cap of $8.83 billion, a P/E ratio of -53.86 and a beta of 0.82. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 0.84. Lineage, Inc. has a 52 week low of $31.33 and a 52 week high of $45.75. The business has a fifty day simple moving average of $42.29 and a 200-day simple moving average of $39.84.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of ($0.22) by $0.98. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The business’s quarterly revenue was up .8% compared to the same quarter last year. Equities research analysts forecast that Lineage, Inc. will post 2.51 EPS for the current year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th were issued a $0.5325 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.13 annualized dividend and a yield of 5.5%. Lineage’s payout ratio is -295.83%.

Lineage Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.