Villere ST Denis J & Co. LLC Grows Stake in Lineage, Inc. $LINE

Villere ST Denis J & Co. LLC grew its stake in Lineage, Inc. (NASDAQ:LINE) by 24.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 588,726 shares of the company’s stock after acquiring an additional 115,423 shares during the quarter. Lineage comprises about 2.5% of Villere ST Denis J & Co. LLC’s portfolio, making the stock its 21st biggest position. Villere ST Denis J & Co. LLC’s holdings in Lineage were worth $25,621,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Costello Asset Management INC purchased a new position in shares of Lineage in the 1st quarter valued at $29,000. Salomon & Ludwin LLC purchased a new position in shares of Lineage in the 1st quarter valued at $34,000. Signaturefd LLC increased its holdings in shares of Lineage by 132.3% in the 2nd quarter. Signaturefd LLC now owns 648 shares of the company’s stock valued at $28,000 after acquiring an additional 369 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Lineage by 170.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 730 shares of the company’s stock valued at $43,000 after acquiring an additional 460 shares during the period. Finally, Global X Japan Co. Ltd. purchased a new position in shares of Lineage in the 1st quarter valued at $74,000.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Royal Bank Of Canada cut their price target on Lineage from $64.00 to $51.00 and set an “outperform” rating on the stock in a report on Monday, August 18th. Bank of America restated an “underperform” rating and set a $42.00 target price (down from $47.00) on shares of Lineage in a research note on Monday, August 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Lineage in a research note on Wednesday. Scotiabank dropped their target price on Lineage from $49.00 to $43.00 and set a “sector perform” rating on the stock in a research note on Friday, September 5th. Finally, Truist Financial dropped their target price on Lineage from $60.00 to $53.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. Six investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.06.

Lineage Stock Performance

Shares of LINE opened at $39.51 on Friday. The stock has a 50-day moving average of $40.78 and a two-hundred day moving average of $45.16. Lineage, Inc. has a one year low of $36.66 and a one year high of $79.14. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.83 and a current ratio of 0.96. The stock has a market cap of $9.04 billion, a P/E ratio of -14.16 and a beta of -0.23.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.06. Lineage had a negative return on equity of 5.76% and a negative net margin of 10.57%.The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.33 billion. The business’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts predict that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.5275 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 5.3%. Lineage’s payout ratio is currently -75.63%.

Insider Transactions at Lineage

In other news, Chairman Kevin Patrick Marchetti purchased 12,345 shares of the stock in a transaction on Tuesday, August 19th. The stock was bought at an average price of $40.44 per share, with a total value of $499,231.80. Following the transaction, the chairman owned 74,668 shares in the company, valued at $3,019,573.92. The trade was a 19.81% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sudarsan V. Thattai purchased 3,563 shares of the stock in a transaction on Friday, August 8th. The shares were purchased at an average cost of $42.45 per share, with a total value of $151,249.35. Following the transaction, the insider owned 7,983 shares in the company, valued at $338,878.35. This trade represents a 80.61% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 39,448 shares of company stock valued at $1,645,752. 71.90% of the stock is currently owned by insiders.

Lineage Company 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.