Ieq Capital LLC Makes New $11.02 Million Investment in Lineage, Inc. $LINE

Ieq Capital LLC bought a new position in Lineage, Inc. (NASDAQ:LINE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 254,671 shares of the company’s stock, valued at approximately $11,015,000.

Other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Lineage by 11.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 926,149 shares of the company’s stock worth $32,415,000 after acquiring an additional 93,188 shares during the period. Norges Bank purchased a new position in shares of Lineage in the 4th quarter valued at approximately $482,255,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Lineage in the 1st quarter valued at approximately $2,009,000. Legal & General Group Plc boosted its position in shares of Lineage by 12.2% during the fourth quarter. Legal & General Group Plc now owns 428,280 shares of the company’s stock valued at $14,990,000 after purchasing an additional 46,488 shares in the last quarter. Finally, Quantinno Capital Management LP boosted its position in shares of Lineage by 122.2% during the first quarter. Quantinno Capital Management LP now owns 104,661 shares of the company’s stock valued at $3,429,000 after purchasing an additional 57,553 shares in the last quarter.

Insider Activity at Lineage

In other Lineage news, CFO Robb A. Lemasters purchased 20,000 shares of the firm’s stock in a transaction dated Friday, August 7th. The stock was purchased at an average price of $41.33 per share, for a total transaction of $826,600.00. Following the completion of the purchase, the chief financial officer directly owned 49,500 shares of the company’s stock, valued at $2,045,835. This trade represents a 67.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 71.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on LINE. Citigroup increased their price objective on Lineage from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Wells Fargo & Company dropped their target price on shares of Lineage from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, June 1st. Robert W. Baird set a $43.00 target price on shares of Lineage in a research report on Thursday, August 6th. Truist Financial increased their price target on shares of Lineage from $44.00 to $46.00 and gave the stock a “buy” rating in a research note on Wednesday, June 17th. Finally, Weiss Ratings raised shares of Lineage from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, August 6th. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $44.20.

Lineage Stock Performance

Lineage stock opened at $41.61 on Friday. Lineage, Inc. has a twelve month low of $31.33 and a twelve month high of $45.75. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $9.48 billion, a P/E ratio of -57.79 and a beta of 0.85. The stock’s 50 day moving average is $42.58 and its 200 day moving average is $39.71.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.98. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.The firm’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.81 earnings per share. On average, equities research analysts predict that Lineage, Inc. will post 2.49 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th were issued a $0.5325 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.1%. Lineage’s dividend payout ratio (DPR) is presently -295.83%.

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.