Prudential Financial Inc. decreased its stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 66.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,464 shares of the company's stock after selling 138,398 shares during the quarter. Prudential Financial Inc.'s holdings in Lineage were worth $4,413,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of LINE. Vanguard Group Inc. grew its position in shares of Lineage by 4.4% during the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company's stock worth $562,003,000 after buying an additional 408,526 shares in the last quarter. Wellington Management Group LLP purchased a new position in Lineage in the third quarter worth approximately $265,895,000. Baillie Gifford & Co. lifted its stake in Lineage by 80.8% in the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company's stock worth $181,484,000 after acquiring an additional 1,384,481 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Lineage by 36.9% during the 4th quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company's stock worth $180,811,000 after acquiring an additional 831,533 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Lineage in the 3rd quarter valued at approximately $173,115,000.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. BNP Paribas initiated coverage on shares of Lineage in a research report on Tuesday, January 14th. They set a "neutral" rating and a $61.00 price objective for the company. The Goldman Sachs Group lowered their price objective on Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Morgan Stanley dropped their price objective on Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a report on Tuesday. Mizuho decreased their target price on Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada dropped their price target on shares of Lineage from $81.00 to $74.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $79.67.
Get Our Latest Research Report on Lineage
Lineage Price Performance
Lineage stock traded down $2.06 during midday trading on Friday, hitting $54.35. 2,029,717 shares of the company's stock were exchanged, compared to its average volume of 1,282,843. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. Lineage, Inc. has a 12-month low of $52.75 and a 12-month high of $89.85. The firm's 50 day simple moving average is $58.30 and its 200 day simple moving average is $63.97.
Lineage Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, March 31st will be issued a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.88%. The ex-dividend date is Monday, March 31st.
Insider Activity at Lineage
In other 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 bought at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.40% of the stock is currently owned by insiders.
About Lineage
(
Free Report)
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.
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