Amundi Cuts Stock Holdings in Lineage, Inc. $LINE

Amundi reduced its position in shares of Lineage, Inc. (NASDAQ:LINE) by 29.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 35,816 shares of the company’s stock after selling 15,125 shares during the period. Amundi’s holdings in Lineage were worth $2,020,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its position in shares of Lineage by 75.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,364,697 shares of the company’s stock valued at $255,903,000 after purchasing an additional 1,880,587 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Lineage in the first quarter valued at approximately $37,468,000. Lunate Capital Ltd purchased a new stake in shares of Lineage in the first quarter valued at approximately $35,178,000. Charles Schwab Investment Management Inc. grew its position in shares of Lineage by 8.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 566,040 shares of the company’s stock valued at $33,187,000 after purchasing an additional 43,242 shares in the last quarter. Finally, Villere ST Denis J & Co. LLC grew its position in shares of Lineage by 3.2% in the first quarter. Villere ST Denis J & Co. LLC now owns 473,303 shares of the company’s stock valued at $27,750,000 after purchasing an additional 14,790 shares in the last quarter.

Analyst Ratings Changes

LINE has been the subject of a number of analyst reports. BNP Paribas Exane lowered Lineage from a “neutral” rating to an “underperform” rating and set a $42.00 price target for the company. in a research report on Thursday, June 12th. Morgan Stanley lowered Lineage from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $75.00 to $50.00 in a research report on Monday, June 23rd. Wells Fargo & Company dropped their price target on Lineage from $48.00 to $43.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 27th. The Goldman Sachs Group lowered their price objective on Lineage from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Finally, Piper Sandler lowered their price objective on Lineage from $60.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Seven investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $52.79.

Lineage Stock Up 1.0%

NASDAQ:LINE opened at $42.39 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.96 and a debt-to-equity ratio of 0.72. The stock’s fifty day moving average is $41.90 and its two-hundred day moving average is $47.95. Lineage, Inc. has a 52 week low of $38.83 and a 52 week high of $84.86. The stock has a market capitalization of $9.70 billion, a price-to-earnings ratio of -15.19 and a beta of -0.22.

Lineage (NASDAQ:LINE) last released 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 for the quarter, compared to analysts’ expectations of $1.33 billion. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts anticipate 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 paid a dividend of $0.5275 per share. This represents a $2.11 dividend on an annualized basis and a yield of 5.0%. Lineage’s dividend payout ratio (DPR) is -75.63%.

Insiders Place Their Bets

In other news, Chairman Kevin Patrick Marchetti purchased 23,540 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $42.28 per share, for a total transaction of $995,271.20. Following the completion of the purchase, the chairman directly owned 62,323 shares of the company’s stock, valued at approximately $2,635,016.44. This trade represents a 60.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Sudarsan V. Thattai purchased 3,563 shares of the firm’s stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $42.45 per share, for a total transaction of $151,249.35. Following the completion of the purchase, the insider directly owned 7,983 shares of the company’s stock, valued at $338,878.35. This represents a 80.61% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 39,448 shares of company stock worth $1,645,752 over the last 90 days. 71.90% of the stock is owned by insiders.

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.