Commonwealth of Pennsylvania Public School Empls Retrmt SYS Boosts Stock Position in Lineage, Inc. $LINE

Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Lineage, Inc. (NASDAQ:LINE) by 175.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,221 shares of the company’s stock after buying an additional 35,145 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Lineage were worth $2,403,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Signaturefd LLC raised its stake in shares of Lineage by 132.3% during the 2nd quarter. Signaturefd LLC now owns 648 shares of the company’s stock worth $28,000 after acquiring an additional 369 shares in the last quarter. Costello Asset Management INC purchased a new position in Lineage in the first quarter worth $29,000. Allworth Financial LP increased its position in shares of Lineage by 426.4% during the second quarter. Allworth Financial LP now owns 758 shares of the company’s stock worth $33,000 after purchasing an additional 614 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Lineage by 29,300.0% during the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 882 shares of the company’s stock valued at $38,000 after purchasing an additional 879 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position 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 worth $43,000 after purchasing an additional 460 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on LINE shares. Piper Sandler restated a “neutral” rating and set a $41.00 target price (down from $55.00) on shares of Lineage in a research note on Thursday, November 6th. The Goldman Sachs Group dropped their price target on Lineage from $57.00 to $50.00 and set a “buy” rating on the stock in a research note on Tuesday, August 12th. Morgan Stanley decreased their price objective on shares of Lineage from $50.00 to $46.00 and set an “equal weight” rating for the company in a research report on Monday, September 22nd. Royal Bank Of Canada lowered their target price on shares of Lineage from $51.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Lineage in a research note on Friday, October 31st. Five research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat.com, Lineage currently has a consensus rating of “Reduce” and a consensus target price of $46.06.

Insider Buying and Selling

In other Lineage news, Chairman Kevin Patrick Marchetti bought 14,500 shares of the business’s stock in a transaction on Monday, November 10th. The stock was bought at an average price of $33.72 per share, with a total value of $488,940.00. Following the completion of the purchase, the chairman directly owned 89,168 shares in the company, valued at $3,006,744.96. The trade was a 19.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert Crisci purchased 10,000 shares of Lineage stock in a transaction dated Friday, November 7th. The stock was bought at an average cost of $34.56 per share, for a total transaction of $345,600.00. Following the completion of the purchase, the chief financial officer directly owned 107,859 shares in the company, valued at approximately $3,727,607.04. This trade represents a 10.22% increase in their position. The SEC filing for this purchase provides additional information. In the last quarter, insiders have acquired 128,500 shares of company stock valued at $4,350,160. 71.90% of the stock is currently owned by company insiders.

Lineage Price Performance

NASDAQ:LINE opened at $33.07 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.99 and a quick ratio of 0.86. The company has a 50 day moving average price of $38.62 and a 200-day moving average price of $41.67. Lineage, Inc. has a 1-year low of $32.46 and a 1-year high of $66.38. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of -41.86 and a beta of -0.19.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. Lineage had a negative net margin of 3.30% and a negative return on equity of 1.85%. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm earned $0.90 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Lineage, Inc. will post 2.34 EPS for the current year.

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Tuesday, September 30th were issued a $0.5275 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.11 dividend on an annualized basis and a yield of 6.4%. Lineage’s dividend payout ratio is presently -267.09%.

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.