Canada Pension Plan Investment Board Makes New $41.27 Million Investment in Lineage, Inc. $LINE

Canada Pension Plan Investment Board purchased a new position in Lineage, Inc. (NASDAQ:LINE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 954,248 shares of the company’s stock, valued at approximately $41,271,000. Canada Pension Plan Investment Board owned about 0.42% of Lineage as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank acquired a new stake in Lineage during the fourth quarter worth about $482,255,000. BlackRock Inc. bought a new position in Lineage in the second quarter worth about $227,511,000. Darlington Partners Capital Management LP boosted its stake in Lineage by 45.5% in the third quarter. Darlington Partners Capital Management LP now owns 5,132,810 shares of the company’s stock valued at $198,332,000 after acquiring an additional 1,605,810 shares during the period. Morgan Stanley boosted its stake in Lineage by 378.6% in the fourth quarter. Morgan Stanley now owns 5,017,332 shares of the company’s stock valued at $175,607,000 after acquiring an additional 3,968,958 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Lineage by 712.1% during the first quarter. Bank of America Corp DE now owns 3,610,123 shares of the company’s stock valued at $118,268,000 after purchasing an additional 3,165,593 shares during the last quarter.

Insider Activity at Lineage

In related news, CFO Robb A. Lemasters purchased 20,000 shares of Lineage stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $41.33 per share, with a total value of $826,600.00. Following the purchase, the chief financial officer 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 through this link. Company insiders own 71.60% of the company’s stock.

Lineage Price Performance

Shares of LINE opened at $39.55 on Friday. The firm has a market capitalization of $9.01 billion, a price-to-earnings ratio of -54.93 and a beta of 0.85. 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, Inc. has a one year low of $31.33 and a one year high of $45.75. The stock’s fifty day moving average is $42.44 and its 200-day moving average is $39.85.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.35 billion. Lineage had a negative net margin of 3.15% and a negative return on equity of 1.85%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the previous year, the business earned $0.81 earnings per share. Equities analysts anticipate that Lineage, Inc. will post 2.49 EPS for the current year.

Lineage Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on LINE shares. Citigroup increased their price target on Lineage from $42.00 to $43.00 and gave the stock a “neutral” rating in a research report on Thursday, August 13th. UBS Group boosted their price objective on Lineage from $35.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, July 17th. The Goldman Sachs Group set a $53.00 price objective on Lineage in a research note on Wednesday, August 12th. Scotiabank reiterated a “sector perform” rating and issued a $45.00 target price on shares of Lineage in a research note on Thursday, June 18th. Finally, Truist Financial raised their target price on Lineage from $44.00 to $46.00 and gave the company a “buy” rating in a research note on Wednesday, June 17th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $44.07.

Lineage Company 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.