HighTower Advisors LLC Increases Stock Position in Lineage, Inc. $LINE

HighTower Advisors LLC raised its holdings in Lineage, Inc. (NASDAQ:LINE) by 6.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,286,166 shares of the company’s stock after purchasing an additional 130,895 shares during the period. HighTower Advisors LLC’s holdings in Lineage were worth $98,877,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LINE. Charles Schwab Investment Management Inc. increased its position in Lineage by 11.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 926,149 shares of the company’s stock worth $32,415,000 after buying an additional 93,188 shares in the last quarter. Norges Bank purchased a new stake in shares of Lineage in the fourth quarter valued at $482,255,000. Legal & General Group Plc lifted its position in shares of Lineage by 12.2% in the fourth quarter. Legal & General Group Plc now owns 428,280 shares of the company’s stock valued at $14,990,000 after acquiring an additional 46,488 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in shares of Lineage during the first quarter valued at $2,009,000. Finally, BlackRock Inc. acquired a new stake in shares of Lineage during the second quarter valued at $227,511,000.

Lineage Price Performance

Shares of NASDAQ:LINE opened at $38.17 on Monday. The company has a market cap of $8.69 billion, a P/E ratio of -53.01 and a beta of 0.82. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 0.84. Lineage, Inc. has a 52 week low of $31.33 and a 52 week high of $45.75. The business has a fifty day simple moving average of $42.09 and a 200-day simple moving average of $39.85.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.98. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the business posted $0.81 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Equities research analysts forecast that Lineage, Inc. will post 2.51 EPS for the current year.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, June 30th were given a $0.5325 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.13 annualized dividend and a dividend yield of 5.6%. Lineage’s dividend payout ratio (DPR) is currently -295.83%.

Wall Street Analyst Weigh In

A number of analysts recently commented on LINE shares. Evercore set a $44.00 price objective on Lineage in a research report on Monday, June 8th. Citigroup upped their target price on shares of Lineage from $42.00 to $43.00 and gave the company a “neutral” rating in a report on Thursday, August 13th. Morgan Stanley raised their price target on shares of Lineage from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 2nd. Scotiabank reiterated a “sector perform” rating and set a $45.00 price target on shares of Lineage in a report on Thursday, June 18th. Finally, Royal Bank Of Canada boosted their price objective on shares of Lineage from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday, August 17th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Lineage currently has an average rating of “Hold” and a consensus price target of $44.20.

Insider Buying and Selling

In other Lineage news, CFO Robb A. Lemasters bought 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was purchased at an average price of $41.33 per share, with a total value of $826,600.00. Following the transaction, the chief financial officer owned 49,500 shares in the company, valued at $2,045,835. This trade represents a 67.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Kevin Marchetti purchased 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average price of $39.50 per share, for a total transaction of $987,500.00. Following the acquisition, the chairman directly owned 138,690 shares of the company’s stock, valued at $5,478,255. This trade represents a 21.99% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 71.60% of the stock is currently owned by insiders.

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.