35,600 Shares in Lineage, Inc. $LINE Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Lineage, Inc. (NASDAQ:LINE) in the third quarter, Holdings Channel reports. The firm acquired 35,600 shares of the company’s stock, valued at approximately $1,215,000.

Several other hedge funds have also added to or reduced their stakes in LINE. Frank Rimerman Advisors LLC boosted its holdings in Lineage by 4.5% in the third quarter. Frank Rimerman Advisors LLC now owns 7,984 shares of the company’s stock worth $272,000 after acquiring an additional 345 shares in the last quarter. Paralel Advisors LLC bought a new position in shares of Lineage during the second quarter valued at $26,000. Wealth Enhancement Trust Services Inc. increased its holdings in shares of Lineage by 88.4% during the third quarter. Wealth Enhancement Trust Services Inc. now owns 1,948 shares of the company’s stock valued at $66,000 after acquiring an additional 914 shares in the last quarter. Lombard Odier Asset Management USA Corp increased its holdings in shares of Lineage by 14.4% during the first quarter. Lombard Odier Asset Management USA Corp now owns 8,000 shares of the company’s stock valued at $262,000 after acquiring an additional 1,005 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of Lineage by 172.7% in the 1st quarter. Parallel Advisors LLC now owns 1,650 shares of the company’s stock worth $54,000 after purchasing an additional 1,045 shares during the last quarter.

Lineage Stock Performance

Shares of LINE opened at $38.61 on Thursday. The business’s fifty day simple moving average is $36.31 and its two-hundred day simple moving average is $38.69. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 0.84. 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 $8.79 billion, a price-to-earnings ratio of -53.62 and a beta of 0.79.

Lineage (NASDAQ:LINE) last posted its earnings results on Wednesday, August 5th. The company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.98. Lineage had a negative return on equity of 1.85% and a negative net margin of 3.15%. The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.35 billion. During the same quarter last year, the company earned $0.81 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. Research analysts anticipate that Lineage, Inc. will post 2.47 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 21st. Stockholders of record on Wednesday, September 30th were issued a dividend of $0.5325 per share. This represents a $2.13 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Wednesday, September 30th. Lineage’s dividend payout ratio is presently -295.83%.

Wall Street Analyst Weigh In

LINE has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Lineage from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, August 6th. UBS Group reduced their price objective on shares of Lineage from $45.00 to $36.00 and set a “neutral” rating for the company in a research note on Tuesday, October 20th. 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 note on Tuesday, July 28th. Citigroup lifted their target price on shares of Lineage from $42.00 to $43.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. Finally, Wells Fargo & Company upped their target price on shares of Lineage from $36.00 to $38.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 1st. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Lineage has a consensus rating of “Hold” and a consensus target price of $41.93.

Insider Buying and Selling at Lineage

In other Lineage news, Chairman Kevin Marchetti acquired 25,000 shares of Lineage stock in a transaction that occurred on Friday, August 28th. The stock was bought at an average cost of $39.50 per share, for a total transaction of $987,500.00. Following the acquisition, the chairman owned 138,690 shares of the company’s stock, valued at $5,478,255. This represents a 21.99% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Robb A. Lemasters bought 20,000 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $41.33 per share, with a total value of $826,600.00. Following the transaction, the chief financial officer owned 49,500 shares in the company, valued at $2,045,835. The trade was a 67.80% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 71.60% of the company’s stock.

About Lineage

Lineage, Inc (NASDAQ:LINE) is a real estate investment trust that owns and operates temperature-controlled warehouses and related cold-chain infrastructure. The company provides storage, handling and logistics services for food and other perishable products, helping customers preserve product quality as goods move from producers and manufacturers to retailers and consumers.

Its services include refrigerated and frozen warehousing, transportation coordination, inventory management, food distribution and supply-chain technology.