Capital Research Global Investors Sells 362,611 Shares of Lineage, Inc. $LINE

Capital Research Global Investors trimmed its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,790,338 shares of the company’s stock after selling 362,611 shares during the period. Capital Research Global Investors owned about 1.22% of Lineage worth $97,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of LINE. Royal Bank of Canada boosted its holdings in shares of Lineage by 15.2% in the 1st quarter. Royal Bank of Canada now owns 4,956 shares of the company’s stock valued at $290,000 after buying an additional 653 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Lineage in the 1st quarter valued at about $886,000. Millennium Management LLC boosted its holdings in shares of Lineage by 197.0% in the 1st quarter. Millennium Management LLC now owns 288,518 shares of the company’s stock valued at $16,916,000 after buying an additional 191,362 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Lineage by 15.5% in the 2nd quarter. Invesco Ltd. now owns 148,086 shares of the company’s stock valued at $6,445,000 after buying an additional 19,927 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of Lineage by 172.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after buying an additional 362 shares in the last quarter.

Insider Transactions at Lineage

In other Lineage news, Chairman Kevin Patrick Marchetti purchased 13,300 shares of Lineage 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. This represents a 13.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 71.60% of the company’s stock.

Lineage Stock Performance

Shares of Lineage stock opened at $42.29 on Tuesday. The firm 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 quick ratio of 0.76, a current ratio of 0.85 and a debt-to-equity ratio of 0.82. The company has a 50 day moving average price of $37.85 and a 200 day moving average price of $37.01. Lineage, Inc. has a 52 week low of $31.33 and a 52 week high of $46.99.

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

Lineage Increases Dividend

The firm also recently declared 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. 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 a boost from Lineage’s previous quarterly dividend of $0.53. Lineage’s payout ratio is -343.55%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup raised their price target on shares of Lineage from $38.00 to $42.00 and gave the company a “neutral” rating in a report on Monday, March 2nd. Zacks Research upgraded shares of Lineage from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Scotiabank raised their price target on shares of Lineage from $39.00 to $42.00 and gave the company a “hold” rating in a report on Wednesday, March 11th. Morgan Stanley raised their price target 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. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Lineage in a report on Friday, March 27th. Four equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $43.72.

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.