Northwest & Ethical Investments L.P. Takes $2.16 Million Position in Lineage, Inc. (NASDAQ:LINE)

Northwest & Ethical Investments L.P. bought a new position in shares of Lineage, Inc. (NASDAQ:LINE) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 36,869 shares of the company’s stock, valued at approximately $2,159,000.

Several other large investors also recently modified their holdings of LINE. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Lineage in the third quarter worth $7,631,000. Charles Schwab Investment Management Inc. bought a new position in shares of Lineage in the 3rd quarter worth about $13,786,000. GM Advisory Group LLC purchased a new position in Lineage during the 3rd quarter valued at about $784,000. Larson Financial Group LLC bought a new stake in Lineage during the third quarter worth about $34,000. Finally, Daiwa Securities Group Inc. bought a new stake in Lineage during the third quarter worth about $36,466,000.

Lineage Stock Down 3.2 %

Shares of LINE stock opened at $58.40 on Friday. Lineage, Inc. has a twelve month low of $52.75 and a twelve month high of $89.85. The stock has a 50 day moving average of $58.23 and a 200 day moving average of $65.77. The company has a current ratio of 1.07, a quick ratio of 0.95 and a debt-to-equity ratio of 0.62.

Lineage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, March 31st will be paid a dividend of $0.5275 per share. This represents a $2.11 annualized dividend and a dividend yield of 3.61%. The ex-dividend date is Monday, March 31st.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. JPMorgan Chase & Co. lowered Lineage from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $78.00 to $75.00 in a research report on Friday, December 20th. The Goldman Sachs Group reduced their price target on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 17th. Piper Sandler dropped their price target on shares of Lineage from $90.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 27th. Royal Bank of Canada reduced their price objective on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, Mizuho dropped their target price on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $82.06.

Insider Activity

In other news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the firm’s stock in a transaction dated Friday, February 28th. The shares were acquired at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the completion of the transaction, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 1.40% of the company’s stock.

About Lineage

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.