Public Employees Retirement System of Ohio Acquires 3,140 Shares of Lineage, Inc. $LINE

Public Employees Retirement System of Ohio increased its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 16.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,276 shares of the company’s stock after purchasing an additional 3,140 shares during the period. Public Employees Retirement System of Ohio’s holdings in Lineage were worth $969,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. State of Alaska Department of Revenue lifted its holdings in shares of Lineage by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 30,095 shares of the company’s stock valued at $1,764,000 after purchasing an additional 371 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Lineage by 170.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock valued at $43,000 after purchasing an additional 460 shares in the last quarter. Costello Asset Management INC bought a new position in shares of Lineage during the 1st quarter valued at about $29,000. Aberdeen Group plc lifted its stake in Lineage by 3.6% in the 1st quarter. Aberdeen Group plc now owns 16,568 shares of the company’s stock valued at $971,000 after acquiring an additional 580 shares in the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in Lineage in the 1st quarter valued at approximately $34,000.

Analysts Set New Price Targets

Several research firms have commented on LINE. Evercore ISI boosted their target price on Lineage from $43.00 to $45.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Scotiabank cut their target price on Lineage from $49.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Friday, September 5th. Wells Fargo & Company cut their target price on Lineage from $48.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 27th. Royal Bank Of Canada cut their target price on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a research note on Monday, August 18th. Finally, Barclays cut their target price on Lineage from $52.00 to $51.00 and set an “overweight” rating on the stock in a research note on Monday, September 15th. Six equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, Lineage currently has an average rating of “Hold” and an average price target of $50.11.

Lineage Stock Performance

Shares of NASDAQ LINE opened at $41.46 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.96 and a quick ratio of 0.83. The stock’s fifty day moving average price is $41.06 and its two-hundred day moving average price is $45.72. Lineage, Inc. has a one year low of $36.66 and a one year high of $79.14. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of -14.86 and a beta of -0.23.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates 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. The firm’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts forecast that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th will be issued a $0.5275 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, September 30th. Lineage’s dividend payout ratio is currently -75.63%.

Insiders Place Their Bets

In related news, Chairman Kevin Patrick Marchetti bought 23,540 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was purchased at an average cost of $42.28 per share, for a total transaction of $995,271.20. Following the transaction, the chairman owned 62,323 shares in the company, valued at $2,635,016.44. The trade was a 60.70% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sudarsan V. Thattai bought 3,563 shares of the business’s stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $42.45 per share, with a total value of $151,249.35. Following the completion of the transaction, the insider owned 7,983 shares in the company, valued at approximately $338,878.35. This trade represents a 80.61% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 39,448 shares of company stock worth $1,645,752. Insiders own 71.90% of the company’s stock.

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.