Stifel Financial Corp Raises Stake in Lineage, Inc. (NASDAQ:LINE)

Stifel Financial Corp lifted its stake in Lineage, Inc. (NASDAQ:LINE) by 30.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,509 shares of the company’s stock after purchasing an additional 821 shares during the period. Stifel Financial Corp’s holdings in Lineage were worth $206,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Lineage during the fourth quarter worth approximately $681,572,000. Baillie Gifford & Co. boosted its stake in Lineage by 80.8% during the 4th quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company’s stock valued at $181,484,000 after acquiring an additional 1,384,481 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Lineage by 100.0% during the fourth quarter. Capital Research Global Investors now owns 2,000,433 shares of the company’s stock worth $117,165,000 after purchasing an additional 1,000,433 shares during the period. Victory Capital Management Inc. lifted its position in Lineage by 36.9% in the 4th quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company’s stock valued at $180,811,000 after purchasing an additional 831,533 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Lineage by 130.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 1,070,915 shares of the company’s stock worth $62,723,000 after buying an additional 605,670 shares in the last quarter.

Lineage Price Performance

Shares of LINE stock opened at $47.30 on Friday. Lineage, Inc. has a twelve month low of $42.05 and a twelve month high of $89.85. The stock has a market cap of $10.81 billion and a price-to-earnings ratio of -14.69. The business’s fifty day moving average is $53.91 and its 200 day moving average is $58.50. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.04. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. Lineage’s quarterly revenue was down 2.7% on a year-over-year basis. Research analysts expect that Lineage, Inc. will post 2.34 EPS for the current fiscal year.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, March 31st were issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend was Monday, March 31st. Lineage’s dividend payout ratio is -65.53%.

Insider Buying and Selling at Lineage

In related news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now directly owns 24,317 shares of the company’s stock, valued at $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sudarsan V. Thattai acquired 4,420 shares of Lineage stock in a transaction dated Monday, May 5th. The shares were bought at an average price of $45.23 per share, for a total transaction of $199,916.60. Following the transaction, the insider now owns 4,420 shares of the company’s stock, valued at approximately $199,916.60. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 51,186 shares of company stock valued at $2,666,159. 1.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on LINE shares. Citigroup assumed coverage on shares of Lineage in a research report on Friday, March 28th. They issued a “neutral” rating and a $64.00 target price on the stock. Barclays began coverage on shares of Lineage in a report on Wednesday, April 9th. They issued an “overweight” rating and a $59.00 price target on the stock. Morgan Stanley lowered their target price on shares of Lineage from $80.00 to $75.00 and set an “overweight” rating on the stock in a report on Tuesday, April 1st. Scotiabank cut their target price on shares of Lineage from $56.00 to $50.00 and set a “sector perform” rating on the stock in a research report on Thursday. Finally, UBS Group lowered their price target on Lineage from $62.00 to $49.00 and set a “neutral” rating for the company in a research note on Friday, May 2nd. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Lineage currently has a consensus rating of “Moderate Buy” and an average price target of $69.74.

Lineage Company Profile

Lineage, Inc is the world’s largest global temperature-controlled warehouse REIT with a network of over 480 strategically located facilities totaling over 84.1 million square feet and 3.0 billion cubic feet of capacity across countries in North America, Europe, and Asia-Pacific. Coupling end-to-end supply chain solutions and technology, Lineage partners with some of the world’s largest food and beverage producers, retailers, and distributors to help increase distribution efficiency, advance sustainability, minimize supply chain waste, and, most importantly, feed the world.