Northwest & Ethical Investments L.P. Invests $2.16 Million in Lineage, Inc. (NASDAQ:LINE)

Northwest & Ethical Investments L.P. bought a new stake in Lineage, Inc. (NASDAQ:LINE) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 36,869 shares of the company’s stock, valued at approximately $2,159,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LINE. Janney Montgomery Scott LLC boosted its stake in shares of Lineage by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock valued at $595,000 after buying an additional 185 shares during the period. State of Alaska Department of Revenue lifted its stake in Lineage by 1.0% in the fourth quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company’s stock worth $1,740,000 after acquiring an additional 291 shares during the last quarter. Larson Financial Group LLC acquired a new position in Lineage during the 3rd quarter worth approximately $34,000. M&T Bank Corp increased its position in shares of Lineage by 9.7% in the 4th quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock valued at $292,000 after purchasing an additional 439 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after purchasing an additional 448 shares during the last quarter.

Insider Activity at Lineage

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of Lineage stock in a transaction on Friday, February 28th. The stock was purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the purchase, the chairman now directly owns 24,317 shares of the company’s stock, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on LINE. Royal Bank of Canada dropped their price objective on Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. BNP Paribas assumed coverage on shares of Lineage in a research report on Tuesday, January 14th. They set a “neutral” rating and a $61.00 price objective for the company. Robert W. Baird dropped their target price on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. cut shares of Lineage from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $78.00 to $75.00 in a research report on Friday, December 20th. Finally, Mizuho dropped their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Seven research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $82.06.

Lineage Price Performance

NASDAQ LINE opened at $58.40 on Friday. Lineage, Inc. has a one year low of $52.75 and a one year high of $89.85. The company has a 50-day simple moving average of $58.23 and a 200-day simple moving average of $65.77. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 3.61%. The ex-dividend date of this dividend is Monday, March 31st.

Lineage Profile

Lineage, Inc is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.