Principal Financial Group Inc. Invests $173.12 Million in Lineage, Inc. (NASDAQ:LINE)

Principal Financial Group Inc. bought a new position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,208,682 shares of the company's stock, valued at approximately $173,115,000. Principal Financial Group Inc. owned approximately 0.97% of Lineage as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of LINE. US Bancorp DE acquired a new position in shares of Lineage during the 3rd quarter worth $25,000. Larson Financial Group LLC purchased a new stake in shares of Lineage in the third quarter valued at about $34,000. Spirit of America Management Corp NY acquired a new stake in shares of Lineage in the third quarter valued at approximately $165,000. Stifel Financial Corp purchased a new position in shares of Lineage during the 3rd quarter worth approximately $211,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Lineage during the 3rd quarter worth approximately $226,000.

Wall Street Analyst Weigh In

LINE has been the topic of a number of analyst reports. Royal Bank of Canada lowered their target price on Lineage from $94.00 to $81.00 and set an "outperform" rating on the stock in a report on Wednesday, November 13th. Capital One Financial started coverage on Lineage in a research report on Monday, September 16th. They issued an "overweight" rating and a $91.00 price objective on the stock. The Goldman Sachs Group dropped their price objective on Lineage from $104.00 to $89.00 and set a "buy" rating for the company in a research report on Thursday, November 14th. Evercore ISI reduced their target price on shares of Lineage from $88.00 to $78.00 and set an "in-line" rating on the stock in a report on Thursday, November 7th. Finally, Robert W. Baird decreased their price target on shares of Lineage from $91.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, November 7th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.50.

Lineage Stock Performance

NASDAQ:LINE traded up $1.67 during trading hours on Friday, reaching $58.57. 2,597,078 shares of the company were exchanged, compared to its average volume of 1,354,440. The company's 50 day moving average is $67.98. Lineage, Inc. has a 52-week low of $56.67 and a 52-week 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.

Lineage (NASDAQ:LINE - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.34 billion. During the same period last year, the business posted $0.75 earnings per share. The company's quarterly revenue was up .5% compared to the same quarter last year. Analysts expect that Lineage, Inc. will post 3 EPS for the current year.

Lineage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, December 31st will be paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a dividend yield of 3.60%. The ex-dividend date is Tuesday, December 31st.

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.