Northwest & Ethical Investments L.P. Invests $2.16 Million in Lineage, Inc. (NASDAQ:LINE)

Northwest & Ethical Investments L.P. purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 36,869 shares of the company's stock, valued at approximately $2,159,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Lineage by 86.3% in the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 20,076 shares of the company's stock valued at $1,176,000 after acquiring an additional 9,298 shares during the last quarter. Cibc World Markets Corp grew its holdings in Lineage by 10.4% during the fourth quarter. Cibc World Markets Corp now owns 17,335 shares of the company's stock valued at $1,015,000 after purchasing an additional 1,640 shares during the period. Burkehill Global Management LP bought a new stake in Lineage in the fourth quarter valued at approximately $26,356,000. Daiwa Securities Group Inc. raised its holdings in Lineage by 130.2% in the fourth quarter. Daiwa Securities Group Inc. now owns 1,070,915 shares of the company's stock worth $62,723,000 after purchasing an additional 605,670 shares during the period. Finally, EPIQ Capital Group LLC boosted its position in shares of Lineage by 10.9% during the fourth quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company's stock worth $301,000 after purchasing an additional 500 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on LINE shares. Royal Bank of Canada lowered their price objective on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Piper Sandler lowered their price target on Lineage from $90.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Mizuho cut their price objective on Lineage from $86.00 to $67.00 and set a "neutral" rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. cut Lineage from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $78.00 to $75.00 in a research note on Friday, December 20th. Finally, Scotiabank lifted their price target on shares of Lineage from $73.00 to $74.00 and gave the company a "sector outperform" rating in a research note on Monday, March 10th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $82.06.

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Lineage Stock Performance

LINE traded up $0.65 on Wednesday, reaching $59.67. The stock had a trading volume of 422,151 shares, compared to its average volume of 1,270,830. The firm has a 50-day moving average of $58.40 and a 200-day moving average of $65.22. Lineage, Inc. has a fifty-two week low of $52.75 and a fifty-two week high of $89.85. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a $0.5275 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.54%.

Insider Buying and Selling

In related news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was acquired at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the transaction, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is owned by corporate insiders.

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.