Norges Bank Makes New Investment in Lineage, Inc. $LINE

Norges Bank purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE) in the 4th quarter, Holdings Channel reports. The firm purchased 13,778,722 shares of the company’s stock, valued at approximately $482,255,000. Norges Bank owned about 0.06% of Lineage at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp boosted its position in shares of 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 acquiring an additional 300 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of 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 acquiring an additional 362 shares in the last quarter. Rothschild Investment LLC boosted its position in shares of Lineage by 575.2% during the 4th quarter. Rothschild Investment LLC now owns 736 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares in the last quarter. Caitlin John LLC acquired a new position in shares of Lineage during the 3rd quarter worth about $31,000. Finally, Allworth Financial LP boosted its position in shares of Lineage by 106.6% during the 4th quarter. Allworth Financial LP now owns 940 shares of the company’s stock worth $33,000 after acquiring an additional 485 shares in the last quarter.

Insiders Place Their Bets

In related news, Chairman Kevin Patrick Marchetti acquired 13,300 shares of the firm’s stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $37.50 per share, with a total value of $498,750.00. Following the transaction, 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 acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 71.60% of the company’s stock.

Wall Street Analysts Forecast Growth

LINE has been the subject of several analyst reports. Zacks Research raised Lineage from a “strong sell” rating to a “hold” rating in a research report on Monday, March 9th. Wall Street Zen upgraded shares of Lineage from a “strong sell” rating to a “sell” rating in a report on Tuesday, May 19th. Barclays upped 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. Weiss Ratings restated a “sell (d)” rating on shares of Lineage in a report on Friday, March 27th. Finally, Compass Point started coverage on shares of Lineage in a report on Wednesday, March 18th. They issued a “buy” rating and a $47.00 target price for the company. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $43.28.

Lineage Price Performance

Shares of NASDAQ:LINE opened at $44.41 on Monday. The stock has a market cap of $10.11 billion, a P/E ratio of -71.63 and a beta of 0.87. The firm has a fifty day moving average price of $36.94 and a 200 day moving average price of $36.62. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.85 and a quick ratio of 0.76. Lineage, Inc. has a 1-year low of $31.33 and a 1-year high of $46.99.

Lineage (NASDAQ:LINE) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $1.01. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period last year, the firm earned $0.86 EPS. The firm’s revenue for the quarter was up .4% on a year-over-year basis. Sell-side analysts predict that Lineage, Inc. will post 2.39 EPS for the current year.

Lineage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 21st. Shareholders of record on Tuesday, March 31st were given a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Tuesday, March 31st. This is a positive change from Lineage’s previous quarterly dividend of $0.53. Lineage’s payout ratio is -343.55%.

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.