Lineage, Inc. (NASDAQ:LINE) Stake Increased by Vanguard Group Inc.

Vanguard Group Inc. increased its position in Lineage, Inc. (NASDAQ:LINE - Free Report) by 4.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,595,402 shares of the company's stock after purchasing an additional 408,526 shares during the period. Vanguard Group Inc. owned 4.20% of Lineage worth $562,003,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LINE. Wellington Management Group LLP acquired a new position in shares of Lineage in the 3rd quarter valued at about $265,895,000. Principal Financial Group Inc. acquired a new position in Lineage in the third quarter valued at approximately $173,115,000. Janus Henderson Group PLC acquired a new stake in shares of Lineage during the 3rd quarter worth approximately $131,875,000. State Street Corp acquired a new stake in shares of Lineage during the 3rd quarter worth approximately $113,483,000. Finally, Baillie Gifford & Co. lifted its holdings in shares of Lineage by 80.8% in the 4th quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock worth $181,484,000 after purchasing an additional 1,384,481 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Morgan Stanley cut their target price on Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a research note on Tuesday. Piper Sandler reduced their target price on shares of Lineage from $90.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, February 27th. Mizuho dropped their price target on shares of Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a research note on Wednesday, January 8th. BNP Paribas assumed coverage on Lineage in a research report on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price objective for the company. Finally, JPMorgan Chase & Co. cut Lineage from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $78.00 to $75.00 in a research report on Friday, December 20th. Eight analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $79.67.

Lineage Stock Performance

LINE stock traded down $2.06 on Friday, hitting $54.35. 2,029,717 shares of the company's stock traded hands, compared to its average volume of 1,282,843. Lineage, Inc. has a 1-year low of $52.75 and a 1-year high of $89.85. The company has a quick ratio of 0.95, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a fifty day moving average of $58.30 and a 200-day moving average of $63.97.

Lineage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 3.88%. The ex-dividend date of this dividend is Monday, March 31st.

Insider Transactions at Lineage

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of Lineage stock in a transaction on Friday, February 28th. The stock was bought 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 $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 1.40% 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.