Zurcher Kantonalbank Zurich Cantonalbank Buys 10,096 Shares of Lineage, Inc. (NASDAQ:LINE)

Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Lineage, Inc. (NASDAQ:LINE - Free Report) by 79.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,802 shares of the company's stock after purchasing an additional 10,096 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Lineage were worth $1,336,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP purchased a new position in shares of Lineage during the 3rd quarter valued at $265,895,000. Baillie Gifford & Co. grew its position 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 in the last quarter. Victory Capital Management Inc. grew its position in Lineage by 36.9% in the fourth 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. Principal Financial Group Inc. purchased a new position in Lineage in the third quarter worth $173,115,000. Finally, Janus Henderson Group PLC purchased a new position in Lineage in the third quarter worth $131,875,000.

Insider Activity

In related news, Chairman Adam Matthew Schwartz Forste purchased 24,317 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average cost of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.40% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Lineage from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $78.00 to $75.00 in a research report on Friday, December 20th. The Goldman Sachs Group cut their target price on shares of Lineage from $89.00 to $77.00 and set a "buy" rating for the company in a research report on Friday, January 17th. Scotiabank upped their target price on shares of Lineage from $73.00 to $74.00 and gave the stock a "sector outperform" rating in a research report on Monday, March 10th. Mizuho cut their target price on shares of Lineage from $86.00 to $67.00 and set a "neutral" rating for the company in a research report on Wednesday, January 8th. Finally, Piper Sandler cut their target price on shares of Lineage from $90.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Seven equities 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. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $82.06.

Lineage Trading Down 3.2 %

Shares of NASDAQ:LINE traded down $1.90 during midday trading on Friday, hitting $58.40. 1,033,615 shares of the stock traded hands, compared to its average volume of 1,283,889. The business's 50 day moving average is $58.23 and its two-hundred day moving average is $65.77. 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 one year low of $52.75 and a one year high of $89.85.

Lineage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Monday, March 31st.

Lineage 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.