Royal Bank of Canada Reduces Position in Lineage, Inc. $LINE

Royal Bank of Canada trimmed its position in Lineage, Inc. (NASDAQ:LINE) by 99.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,397 shares of the company’s stock after selling 433,756 shares during the quarter. Royal Bank of Canada’s holdings in Lineage were worth $46,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of LINE. Norges Bank purchased a new position in Lineage in the fourth quarter valued at $482,255,000. Darlington Partners Capital Management LP raised its stake in Lineage by 45.5% in the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after buying an additional 1,605,810 shares in the last quarter. Morgan Stanley lifted its holdings in Lineage by 378.6% during the 4th quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock worth $175,607,000 after buying an additional 3,968,958 shares during the last quarter. State Street Corp lifted its holdings in Lineage by 8.9% during the 2nd quarter. State Street Corp now owns 1,780,270 shares of the company’s stock worth $78,402,000 after buying an additional 145,742 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Lineage by 27.8% during the 4th quarter. Geode Capital Management LLC now owns 1,459,422 shares of the company’s stock worth $51,086,000 after acquiring an additional 317,646 shares in the last quarter.

Insider Activity

In other Lineage news, CFO Robb A. Lemasters acquired 20,000 shares of the stock in a transaction on Friday, August 7th. The shares were bought at an average price of $41.33 per share, with a total value of $826,600.00. Following the acquisition, the chief financial officer 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 Securities & Exchange Commission, which is accessible through this link. Also, Chairman Kevin Patrick Marchetti bought 25,000 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were bought at an average price of $39.50 per share, for a total transaction of $987,500.00. Following the completion of the transaction, the chairman directly owned 138,690 shares in the company, valued at approximately $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 insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Royal Bank Of Canada increased their price objective on Lineage from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Monday, August 17th. Morgan Stanley boosted their target price on Lineage from $39.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 2nd. Truist Financial upped their price target on Lineage from $44.00 to $46.00 and gave the company a “buy” rating in a report on Wednesday, June 17th. Barclays increased their price target on shares of Lineage from $34.00 to $35.00 and gave the company an “underweight” rating in a research note on Friday, May 15th. Finally, Robert W. Baird set a $43.00 price objective on shares of Lineage in a report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $44.20.

Lineage Price Performance

Shares of LINE opened at $38.78 on Thursday. Lineage, Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $45.75. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of -53.86 and a beta of 0.82. The firm has a 50-day simple moving average of $42.29 and a 200-day simple moving average of $39.84. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78.

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

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Tuesday, June 30th were given a $0.5325 dividend. This represents a $2.13 dividend on an annualized basis and a yield of 5.5%. The ex-dividend date was Tuesday, June 30th. Lineage’s dividend payout ratio (DPR) is -295.83%.

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.