Lineage, Inc. $LINE Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in Lineage, Inc. (NASDAQ:LINE) by 18.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 144,790 shares of the company’s stock after selling 31,862 shares during the quarter. Hsbc Holdings PLC owned 0.06% of Lineage worth $6,261,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its holdings 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 acquiring an additional 93,188 shares during the period. Norges Bank purchased a new position in Lineage during the fourth quarter valued at approximately $482,255,000. Y Intercept Hong Kong Ltd acquired a new position in Lineage in the first quarter valued at approximately $2,009,000. Legal & General Group Plc lifted its holdings in 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 during the period. Finally, BlackRock Inc. purchased a new stake in Lineage in the 2nd quarter worth approximately $227,511,000.

Insider Activity

In related news, CFO Robb A. Lemasters purchased 20,000 shares of Lineage stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 49,500 shares in the company, valued at approximately $2,045,835. This trade represents a 67.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Kevin Marchetti purchased 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the purchase, the chairman directly owned 138,690 shares in the company, valued at $5,478,255. This 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 owned by company insiders.

Analyst Upgrades and Downgrades

LINE has been the topic of a number of analyst reports. Piper Sandler dropped their price objective on shares of Lineage from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Thursday, August 27th. Mizuho upgraded shares of Lineage from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $40.00 to $47.00 in a research note on Tuesday, July 28th. 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 report on Wednesday, June 17th. Citigroup raised their price target on shares of Lineage from $42.00 to $43.00 and gave the company a “neutral” rating in a research report on Thursday, August 13th. Finally, Evercore set a $44.00 price objective on shares of Lineage in a report on Monday, June 8th. Five research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Lineage presently has a consensus rating of “Hold” and an average target price of $44.20.

Lineage Stock Down 0.8%

Shares of LINE opened at $37.59 on Thursday. The firm has a market cap of $8.56 billion, a P/E ratio of -52.21 and a beta of 0.82. Lineage, Inc. has a 12 month low of $31.33 and a 12 month high of $45.75. The stock’s 50 day moving average is $41.72 and its two-hundred day moving average is $39.86. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84.

Lineage (NASDAQ:LINE) last announced 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 business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same period in the prior year, the company posted $0.81 EPS. The business’s quarterly revenue was up .8% on a year-over-year basis. Analysts predict that Lineage, Inc. will post 2.51 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.5325 per share. This represents a $2.13 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Tuesday, June 30th. 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.