Capital Research Global Investors Trims Position in Lineage, Inc. $LINE

Capital Research Global Investors cut its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 11.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,790,338 shares of the company’s stock after selling 362,611 shares during the quarter. Capital Research Global Investors’ holdings in Lineage were worth $97,662,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in Lineage by 82.2% during the 3rd quarter. Jones Financial Companies Lllp now owns 665 shares of the company’s stock worth $25,000 after buying an additional 300 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Lineage by 172.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock worth $25,000 after buying an additional 362 shares during the last quarter. Rothschild Investment LLC raised its position in Lineage by 575.2% during the 4th quarter. Rothschild Investment LLC now owns 736 shares of the company’s stock worth $26,000 after buying an additional 627 shares during the last quarter. Caitlin John LLC purchased a new position in Lineage during the 3rd quarter worth approximately $31,000. Finally, Allworth Financial LP increased its holdings in shares of Lineage by 106.6% during the 4th quarter. Allworth Financial LP now owns 940 shares of the company’s stock valued at $33,000 after purchasing an additional 485 shares in the last quarter.

Insider Transactions at Lineage

In related news, Chairman Kevin Patrick Marchetti purchased 13,300 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average price of $37.50 per share, with a total value of $498,750.00. Following the purchase, the chairman owned 113,690 shares of the company’s stock, valued at $4,263,375. The trade was a 13.25% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 71.60% of the company’s stock.

Lineage Price Performance

Lineage stock opened at $42.29 on Tuesday. The company’s fifty day moving average price is $37.85 and its 200 day moving average price is $37.01. Lineage, Inc. has a 1 year low of $31.33 and a 1 year high of $46.99. The stock has a market capitalization of $9.63 billion, a P/E ratio of -68.21 and a beta of 0.87. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.76 and a current ratio of 0.85.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $1.01. Lineage had a negative net margin of 2.72% and a negative return on equity of 1.56%. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter last year, the company earned $0.86 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, equities research analysts anticipate that Lineage, Inc. will post 2.39 earnings per share for the current fiscal year.

Lineage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 21st. Investors of record on Tuesday, March 31st were paid a $0.5325 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $2.13 dividend on an annualized basis and a yield of 5.0%. This is an increase from Lineage’s previous quarterly dividend of $0.53. Lineage’s dividend payout ratio is -343.55%.

Wall Street Analysts Forecast Growth

LINE has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Lineage from $39.00 to $47.00 and gave the company an “equal weight” rating in a report on Tuesday, June 2nd. The Goldman Sachs Group lifted their target price on shares of Lineage from $46.00 to $51.00 and gave the company a “buy” rating in a report on Friday, March 20th. Truist Financial lifted their target price on shares of Lineage from $41.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Barclays lifted their target price on shares of Lineage from $34.00 to $35.00 and gave the company an “underweight” rating in a report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Lineage in a report on Friday, March 27th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Lineage has a consensus rating of “Reduce” and a consensus target price of $43.72.

Lineage Company 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.