16,703 Shares in Lineage, Inc. $LINE Bought by Cibc World Market Inc.

Cibc World Market Inc. bought a new position in shares of Lineage, Inc. (NASDAQ:LINE) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 16,703 shares of the company’s stock, valued at approximately $722,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Lineage by 11.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 926,149 shares of the company’s stock valued at $32,415,000 after buying an additional 93,188 shares in the last quarter. Norges Bank acquired a new stake in Lineage in the fourth quarter valued at approximately $482,255,000. Y Intercept Hong Kong Ltd acquired a new stake in Lineage in the first quarter valued at approximately $2,009,000. Legal & General Group Plc lifted its stake in Lineage by 12.2% in the fourth quarter. Legal & General Group Plc now owns 428,280 shares of the company’s stock valued at $14,990,000 after acquiring an additional 46,488 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in Lineage by 122.2% in the first quarter. Quantinno Capital Management LP now owns 104,661 shares of the company’s stock worth $3,429,000 after acquiring an additional 57,553 shares in the last quarter.

Lineage Price Performance

NASDAQ:LINE opened at $39.55 on Friday. The company has a 50-day moving average of $42.44 and a 200-day moving average of $39.85. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of -54.93 and a beta of 0.85. Lineage, Inc. has a 52 week low of $31.33 and a 52 week high of $45.75. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.70 and a current ratio of 0.78.

Lineage (NASDAQ:LINE) last issued its earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.98. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.35 billion. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. The firm’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 EPS. As a group, equities research analysts anticipate that Lineage, Inc. will post 2.49 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.5325 per share. The ex-dividend date was Tuesday, June 30th. This represents a $2.13 dividend on an annualized basis and a yield of 5.4%. Lineage’s dividend payout ratio (DPR) is currently -295.83%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Weiss Ratings upgraded shares of Lineage from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. Morgan Stanley increased their target price on Lineage from $39.00 to $47.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 2nd. Piper Sandler cut their target price on shares of Lineage from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Thursday. Scotiabank restated a “sector perform” rating and issued a $45.00 price target on shares of Lineage in a research report on Thursday, June 18th. Finally, The Goldman Sachs Group set a $53.00 price objective on shares of Lineage in a report on Wednesday, August 12th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $44.07.

Insiders Place Their Bets

In related news, CFO Robb A. Lemasters acquired 20,000 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were bought at an average cost of $41.33 per share, with a total value of $826,600.00. Following the completion of the acquisition, the chief financial officer owned 49,500 shares of the company’s stock, valued at $2,045,835. This trade represents a 67.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 71.60% of the company’s stock.

Lineage Profile

Lineage Logistics, Inc (NASDAQ: LINE) is a leading provider of temperature-controlled industrial real estate and supply chain solutions. The company specializes in refrigerated and frozen storage, transportation, and ancillary services designed to support the global perishable goods industry. From food manufacturers and distributors to retailers and foodservice operators, Lineage offers tailored temperature management solutions that help clients optimize inventory turnover, reduce waste, and maintain product quality throughout the cold chain.

Lineage’s core services include ambient, refrigerated and frozen warehousing, cross-docking, transloading, and dedicated transportation.