Vanguard Group Inc. Buys 408,526 Shares of Lineage, Inc. (NASDAQ:LINE)

Vanguard Group Inc. boosted its stake in Lineage, Inc. (NASDAQ:LINE - Free Report) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,595,402 shares of the company's stock after purchasing an additional 408,526 shares during the period. Vanguard Group Inc. owned about 4.20% of Lineage worth $562,003,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in LINE. Wellington Management Group LLP bought a new position in shares of Lineage in the 3rd quarter valued at $265,895,000. Baillie Gifford & Co. raised its position in Lineage by 80.8% in the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock valued at $181,484,000 after purchasing an additional 1,384,481 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Lineage by 36.9% during the fourth 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 in the last quarter. Principal Financial Group Inc. bought a new stake in shares of Lineage during the third quarter worth about $173,115,000. Finally, Janus Henderson Group PLC acquired a new position in shares of Lineage in the third quarter valued at approximately $131,875,000.

Lineage Stock Performance

Shares of NASDAQ LINE traded up $1.62 during trading on Wednesday, hitting $58.53. 953,885 shares of the company traded hands, compared to its average volume of 1,277,850. The business's fifty day moving average is $58.48 and its 200 day moving average is $64.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. Lineage, Inc. has a fifty-two week low of $52.75 and a fifty-two week high of $89.85.

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Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Monday, March 31st.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company's stock in a transaction on Friday, February 28th. The shares were purchased at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now owns 24,317 shares of the company's stock, valued at approximately $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LINE shares. JPMorgan Chase & Co. lowered shares of Lineage from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $78.00 to $75.00 in a report on Friday, December 20th. The Goldman Sachs Group reduced their price objective on shares of Lineage from $89.00 to $77.00 and set a "buy" rating on the stock in a research note on Friday, January 17th. Citigroup initiated coverage on Lineage in a research report on Friday, March 28th. They set a "neutral" rating and a $64.00 target price for the company. Royal Bank of Canada reduced their price target on Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Finally, Mizuho lowered their price objective on Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.67.

About Lineage

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.