Galvin Gaustad & Stein LLC Takes Position in Lineage, Inc. (NASDAQ:LINE)

Galvin Gaustad & Stein LLC bought a new position in Lineage, Inc. (NASDAQ:LINE) during the fourth quarter, Holdings Channel reports. The fund bought 159,426 shares of the company’s stock, valued at approximately $9,338,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Janney Montgomery Scott LLC increased its stake in Lineage by 1.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock valued at $595,000 after acquiring an additional 185 shares during the period. Alpha Cubed Investments LLC bought a new position in shares of Lineage in the 4th quarter valued at about $387,000. Oak Thistle LLC acquired a new stake in Lineage in the 4th quarter valued at about $391,000. GAMMA Investing LLC lifted its position in Lineage by 7,466.7% during the fourth quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after acquiring an additional 448 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of Lineage during the third quarter worth approximately $12,542,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on LINE shares. Scotiabank cut their price target on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating on the stock in a report on Tuesday, December 10th. Royal Bank of Canada dropped their price objective on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Robert W. Baird reduced their target price on Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Mizuho reduced their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, Evercore ISI reduced their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a research note on Thursday, November 7th. Seven investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $85.06.

Lineage Stock Performance

Shares of Lineage stock opened at $59.97 on Thursday. The firm’s 50 day moving average is $60.43. Lineage, Inc. has a twelve month low of $52.75 and a twelve month high of $89.85. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.95 and a current ratio of 1.07.

Lineage (NASDAQ:LINE) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). Lineage had a negative net margin of 12.18% and a negative return on equity of 9.89%. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter last year, the company earned $0.75 EPS. The firm’s revenue for the quarter was up .5% on a year-over-year basis. Equities analysts expect that Lineage, Inc. will post 2.33 EPS for the current fiscal year.

Lineage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were given a $0.5275 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.11 annualized dividend and a yield of 3.52%.

Lineage Company 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.