Geode Capital Management LLC purchased a new stake in Lineage, Inc. (NASDAQ:LINE - Free Report) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,162,810 shares of the company's stock, valued at approximately $91,161,000. Geode Capital Management LLC owned about 0.51% of Lineage at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE acquired a new position in shares of Lineage during the 3rd quarter worth approximately $25,000. Larson Financial Group LLC acquired a new position in Lineage in the 3rd quarter valued at about $34,000. Spirit of America Management Corp NY bought a new position in Lineage in the 3rd quarter valued at about $165,000. Stifel Financial Corp acquired a new stake in Lineage during the third quarter worth approximately $211,000. Finally, MetLife Investment Management LLC bought a new stake in shares of Lineage during the third quarter worth approximately $226,000.
Shares of NASDAQ:LINE opened at $56.90 on Friday. Lineage, Inc. has a 52-week low of $56.87 and a 52-week high of $89.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 0.95. The business's fifty day moving average is $67.98.
Lineage (NASDAQ:LINE - Get Free Report) last issued its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($3.22). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the company earned $0.75 EPS. Lineage's revenue for the quarter was up .5% on a year-over-year basis. As a group, equities research analysts predict that Lineage, Inc. will post 3 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a yield of 3.71%. The ex-dividend date is Tuesday, December 31st.
A number of equities analysts have recently weighed in on LINE shares. Robert W. Baird lowered their target price on Lineage from $91.00 to $85.00 and set an "outperform" rating on the stock in a research note on Thursday, November 7th. Royal Bank of Canada dropped their target price on Lineage from $94.00 to $81.00 and set an "outperform" rating for the company in a report on Wednesday, November 13th. Capital One Financial began coverage on shares of Lineage in a research report on Monday, September 16th. They issued an "overweight" rating and a $91.00 target price for the company. Wells Fargo & Company raised their price target on shares of Lineage from $86.00 to $89.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 28th. Finally, Scotiabank cut their price objective on shares of Lineage from $94.00 to $76.00 and set a "sector outperform" rating for the company in a report on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $89.63.
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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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