PNC Financial Services Group Inc. Has $43,000 Stock Position in Lineage, Inc. $LINE

PNC Financial Services Group Inc. lifted its position in shares of Lineage, Inc. (NASDAQ:LINE) by 170.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 730 shares of the company’s stock after buying an additional 460 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Lineage were worth $43,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Salomon & Ludwin LLC bought a new position in shares of Lineage in the first quarter worth $34,000. Quarry LP bought a new position in shares of Lineage in the fourth quarter worth $50,000. Global X Japan Co. Ltd. bought a new position in shares of Lineage in the first quarter worth $74,000. Parallel Advisors LLC bought a new position in shares of Lineage in the first quarter worth $151,000. Finally, CWM LLC increased its position in shares of Lineage by 3,508.2% in the first quarter. CWM LLC now owns 2,634 shares of the company’s stock worth $154,000 after purchasing an additional 2,561 shares during the period.

Wall Street Analysts Forecast Growth

LINE has been the topic of a number of recent analyst reports. Royal Bank Of Canada decreased their target price on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research report on Monday, August 18th. Scotiabank cut their price target on Lineage from $56.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 15th. BNP Paribas set a $42.00 price objective on Lineage in a research note on Thursday, June 12th. The Goldman Sachs Group cut their price objective on Lineage from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Finally, JPMorgan Chase & Co. lowered Lineage from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $55.00 to $50.00 in a research note on Monday, June 23rd. Seven investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.53.

Insider Activity at Lineage

In other news, Chairman Kevin Patrick Marchetti acquired 12,345 shares of the firm’s stock in a transaction dated Tuesday, August 19th. The stock was purchased at an average price of $40.44 per share, for a total transaction of $499,231.80. Following the completion of the acquisition, the chairman directly owned 74,668 shares in the company, valued at $3,019,573.92. The trade was a 19.81% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sudarsan V. Thattai acquired 3,563 shares of the firm’s stock in a transaction dated Friday, August 8th. The shares were purchased at an average price of $42.45 per share, with a total value of $151,249.35. Following the acquisition, the insider owned 7,983 shares of the company’s stock, valued at approximately $338,878.35. This represents a 80.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 39,448 shares of company stock valued at $1,645,752. Corporate insiders own 71.90% of the company’s stock.

Lineage Price Performance

Shares of LINE opened at $40.28 on Friday. Lineage, Inc. has a 52-week low of $38.83 and a 52-week high of $86.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96. The business’s 50 day moving average price is $42.74 and its two-hundred day moving average price is $49.39. The firm has a market cap of $9.21 billion and a PE ratio of -14.44.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.06. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.33 billion. Lineage’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities analysts anticipate that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Stockholders of record on Monday, June 30th were issued a dividend of $0.5275 per share. The ex-dividend date was Monday, June 30th. This represents a $2.11 annualized dividend and a dividend yield of 5.2%. Lineage’s payout ratio is currently -75.63%.

Lineage 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.