Norges Bank Makes New $681.57 Million Investment in Lineage, Inc. (NASDAQ:LINE)

Norges Bank bought a new stake in Lineage, Inc. (NASDAQ:LINE) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 11,636,871 shares of the company’s stock, valued at approximately $681,572,000. Norges Bank owned about 0.05% of Lineage as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of LINE. Janney Montgomery Scott LLC grew its stake in Lineage by 1.9% in the 4th quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock valued at $595,000 after purchasing an additional 185 shares during the period. State of Alaska Department of Revenue increased its holdings in Lineage by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company’s stock worth $1,740,000 after buying an additional 291 shares during the last quarter. Larson Financial Group LLC bought a new stake in Lineage in the third quarter worth about $34,000. M&T Bank Corp boosted its stake in Lineage by 9.7% in the fourth quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock valued at $292,000 after acquiring an additional 439 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock valued at $27,000 after acquiring an additional 448 shares during the period.

Insiders Place Their Bets

In related news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the stock in a transaction dated Friday, February 28th. The shares were purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the transaction, the chairman now owns 24,317 shares in the company, valued at $1,471,178.50. This represents a ? increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Lineage Stock Performance

Shares of LINE opened at $59.88 on Friday. Lineage, Inc. has a 12-month low of $52.75 and a 12-month high of $89.85. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $58.55 and a 200-day moving average price of $65.15.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be given a dividend of $0.5275 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.11 annualized dividend and a yield of 3.52%.

Analyst Ratings Changes

Several research firms recently commented on LINE. BNP Paribas started coverage on Lineage in a research note on Tuesday, January 14th. They issued a “neutral” rating and a $61.00 price objective on the stock. The Goldman Sachs Group dropped their price target on Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a research report on Friday, January 17th. Mizuho decreased their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Robert W. Baird cut their target price on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. Finally, Scotiabank lifted their target price on shares of Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 10th. Seven investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $82.06.

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.