Wells Fargo & Company MN Boosts Stake in Lineage, Inc. (NASDAQ:LINE)

Wells Fargo & Company MN grew its stake in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 38.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,944 shares of the company's stock after buying an additional 11,973 shares during the period. Wells Fargo & Company MN's holdings in Lineage were worth $2,515,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC boosted its holdings in Lineage by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company's stock valued at $595,000 after acquiring an additional 185 shares during the period. State of Alaska Department of Revenue boosted its holdings in shares of Lineage by 1.0% during the 4th quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company's stock valued at $1,740,000 after buying an additional 291 shares in the last quarter. M&T Bank Corp boosted its stake in Lineage by 9.7% during the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company's stock worth $292,000 after acquiring an additional 439 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Lineage by 7,466.7% in the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company's stock worth $27,000 after buying an additional 448 shares during the last quarter. Finally, EPIQ Capital Group LLC grew its stake in shares of Lineage by 10.9% in the fourth quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company's stock worth $301,000 after acquiring an additional 500 shares during the last quarter.

Lineage Stock Up 2.0 %

Lineage stock traded up $1.14 during midday trading on Tuesday, reaching $56.82. The stock had a trading volume of 484,845 shares, compared to its average volume of 953,432. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07. Lineage, Inc. has a 52-week low of $46.63 and a 52-week high of $89.85. The company has a fifty day moving average of $56.97 and a 200 day moving average of $61.00.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 21st. Investors of record on Monday, March 31st were paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend was Monday, March 31st.

Analyst Ratings Changes

A number of equities research analysts have recently commented on LINE shares. The Goldman Sachs Group cut their price target on shares of Lineage from $89.00 to $77.00 and set a "buy" rating on the stock in a report on Friday, January 17th. Barclays assumed coverage on shares of Lineage in a research report on Wednesday, April 9th. They set an "overweight" rating and a $59.00 price objective on the stock. Robert W. Baird cut their target price on shares of Lineage from $76.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, February 27th. Morgan Stanley lowered their price target on Lineage from $80.00 to $75.00 and set an "overweight" rating on the stock in a report on Tuesday, April 1st. Finally, Royal Bank of Canada reduced their price objective on Lineage from $81.00 to $74.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Nine investment 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.63.

Insider Activity at Lineage

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the stock in a transaction on Friday, February 28th. The stock was acquired at an average cost of $60.50 per share, for a total transaction of $1,471,178.50. Following the acquisition, 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.40% of the stock is currently owned by company insiders.

About Lineage

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.