Canada Pension Plan Investment Board Purchases Shares of 954,248 Lineage, Inc. $LINE

Canada Pension Plan Investment Board purchased a new stake in shares of Lineage, Inc. (NASDAQ:LINE) during the 2nd quarter, HoldingsChannel reports. The fund purchased 954,248 shares of the company’s stock, valued at approximately $41,271,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in Lineage by 172.4% during the second quarter. EverSource Wealth Advisors LLC now owns 572 shares of the company’s stock valued at $25,000 after buying an additional 362 shares in the last quarter. Rothschild Investment LLC grew its holdings in Lineage by 575.2% during the fourth quarter. Rothschild Investment LLC now owns 736 shares of the company’s stock worth $26,000 after acquiring an additional 627 shares during the period. Paralel Advisors LLC bought a new stake in Lineage in the second quarter worth about $26,000. Allworth Financial LP raised its position in Lineage by 106.6% in the fourth quarter. Allworth Financial LP now owns 940 shares of the company’s stock worth $33,000 after acquiring an additional 485 shares in the last quarter. Finally, Aew Capital Management L P acquired a new stake in Lineage in the 4th quarter valued at about $42,000.

Lineage Trading Down 2.5%

Shares of NASDAQ LINE opened at $39.55 on Friday. Lineage, Inc. has a 12 month low of $31.33 and a 12 month high of $45.75. The company has a market cap of $9.01 billion, a price-to-earnings ratio of -54.93 and a beta of 0.85. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 0.84. The business has a fifty day simple moving average of $42.44 and a 200-day simple moving average of $39.85.

Lineage (NASDAQ:LINE) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.98. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%.Lineage’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter last year, the company posted $0.81 EPS. Sell-side analysts predict that Lineage, Inc. will post 2.49 EPS for the current year.

Lineage Announces Dividend

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

Analysts Set New Price Targets

Several research firms have recently weighed in on LINE. Mizuho upgraded shares of Lineage from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $40.00 to $47.00 in a research report on Tuesday, July 28th. Truist Financial boosted their target price on shares of Lineage from $44.00 to $46.00 and gave the stock a “buy” rating in a report on Wednesday, June 17th. 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. Morgan Stanley raised their target price on shares of Lineage from $39.00 to $47.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 2nd. Finally, Wells Fargo & Company decreased their price target on shares of Lineage from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, June 1st. Five research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.07.

Insider Activity at Lineage

In other news, CFO Robb A. Lemasters bought 20,000 shares of the company’s stock in a transaction dated Friday, August 7th. The shares were acquired at an average cost of $41.33 per share, with a total value of $826,600.00. Following the completion of the transaction, the chief financial officer directly owned 49,500 shares in the company, valued at approximately $2,045,835. The trade was a 67.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 71.60% of the stock is currently owned by insiders.

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.