Lineage, Inc. $LINE Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. boosted its stake in shares of Lineage, Inc. (NASDAQ:LINE) by 997,150.0% in the first quarter, Holdings Channel reports. The fund owned 19,945 shares of the company’s stock after purchasing an additional 19,943 shares during the period. Bessemer Group Inc.’s holdings in Lineage were worth $653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of LINE. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lineage by 11.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 926,149 shares of the company’s stock valued at $32,415,000 after buying an additional 93,188 shares during the period. JPMorgan Chase & Co. grew its holdings in Lineage by 839.6% during the third quarter. JPMorgan Chase & Co. now owns 139,702 shares of the company’s stock worth $5,398,000 after acquiring an additional 124,833 shares during the period. SG Americas Securities LLC raised its position in Lineage by 3,910.9% in the fourth quarter. SG Americas Securities LLC now owns 261,871 shares of the company’s stock worth $9,165,000 after acquiring an additional 255,342 shares in the last quarter. Norges Bank acquired a new stake in Lineage in the fourth quarter valued at $482,255,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Lineage in the first quarter valued at $2,009,000.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LINE. Evercore set a $44.00 target price on shares of Lineage in a report on Monday, June 8th. UBS Group upped their price target on Lineage from $35.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, July 17th. Barclays raised their price objective on Lineage from $34.00 to $35.00 and gave the company an “underweight” rating in a research note on Friday, May 15th. Morgan Stanley lifted their price objective on Lineage from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 2nd. Finally, Scotiabank reissued a “sector perform” rating and issued a $45.00 target price on shares of Lineage in a report on Thursday, June 18th. Four investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $42.94.

Lineage Trading Up 1.1%

Shares of LINE stock opened at $41.42 on Friday. Lineage, Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $45.75. The firm’s 50 day moving average price is $42.74 and its two-hundred day moving average price is $38.89. The stock has a market cap of $9.43 billion, a price-to-earnings ratio of -66.81 and a beta of 0.85. The company has a quick ratio of 0.76, a current ratio of 0.85 and a debt-to-equity ratio of 0.82.

Lineage (NASDAQ:LINE) last posted its 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. The business had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. Lineage had a negative return on equity of 1.56% and a negative net margin of 2.72%.The company’s revenue for the quarter was up .4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 earnings per share. On average, analysts anticipate that Lineage, Inc. will post 2.44 EPS for the current year.

Lineage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Tuesday, June 30th were given a dividend of $0.5325 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.13 annualized dividend and a dividend yield of 5.1%. Lineage’s dividend payout ratio (DPR) is presently -343.55%.

About Lineage

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.