Principal Financial Group Inc. Cuts Stake in Lineage, Inc. (NASDAQ:LINE)

Principal Financial Group Inc. decreased its position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,130,791 shares of the company's stock after selling 77,891 shares during the period. Principal Financial Group Inc. owned 0.93% of Lineage worth $124,801,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp acquired a new stake in Lineage in the third quarter worth about $833,000. TOMS Capital Investment Management LP purchased a new position in shares of Lineage in the 3rd quarter valued at approximately $15,676,000. Sequoia Financial Advisors LLC acquired a new stake in Lineage in the 3rd quarter worth approximately $23,893,000. JPMorgan Chase & Co. purchased a new stake in Lineage during the 3rd quarter worth approximately $12,542,000. Finally, Nicola Wealth Management LTD. acquired a new position in Lineage during the 3rd quarter valued at approximately $658,000.

Lineage Stock Down 1.5 %

NASDAQ LINE traded down $0.82 during mid-day trading on Friday, reaching $53.88. 1,053,521 shares of the stock were exchanged, compared to its average volume of 796,806. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. The business's 50 day moving average is $58.11 and its 200-day moving average is $69.64. Lineage, Inc. has a 1 year low of $52.75 and a 1 year high of $89.85.

Lineage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 3.92%. The ex-dividend date was Tuesday, December 31st.

Wall Street Analyst Weigh In

Several research firms have recently commented on LINE. Robert W. Baird lowered their price objective on shares of Lineage from $91.00 to $85.00 and set an "outperform" rating for the company in a research note on Thursday, November 7th. Scotiabank reduced their target price on Lineage from $76.00 to $73.00 and set a "sector outperform" rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. downgraded Lineage from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $78.00 to $75.00 in a research note on Friday, December 20th. BNP Paribas initiated coverage on Lineage in a research note on Tuesday, January 14th. They issued a "neutral" rating and a $61.00 price objective for the company. Finally, Royal Bank of Canada decreased their target price on Lineage from $94.00 to $81.00 and set an "outperform" rating for the company in a report on Wednesday, November 13th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.88.

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.