Norges Bank Takes Position in Lineage, Inc. (NASDAQ:LINE)

Norges Bank acquired a new stake in Lineage, Inc. (NASDAQ:LINE) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 11,636,871 shares of the company’s stock, valued at approximately $681,572,000. Norges Bank owned 5.09% of Lineage at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in LINE. GAMMA Investing LLC increased its position in Lineage by 7,466.7% in 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. Larson Financial Group LLC acquired a new stake in Lineage in the third quarter valued at $34,000. Stifel Financial Corp bought a new position in Lineage during the 3rd quarter worth $211,000. MetLife Investment Management LLC acquired a new position in Lineage during the 3rd quarter worth about $226,000. Finally, EntryPoint Capital LLC bought a new stake in shares of Lineage in the 4th quarter valued at about $289,000.

Lineage Stock Performance

LINE opened at $59.88 on Friday. The company’s fifty day moving average price is $58.55 and its two-hundred day moving average price is $65.15. Lineage, Inc. has a 1-year low of $52.75 and a 1-year 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 Dividend Announcement

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

Insiders Place Their Bets

In related news, Chairman Adam Matthew Schwartz Forste bought 24,317 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The shares were bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the transaction, the chairman now directly owns 24,317 shares in the company, valued at approximately $1,471,178.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LINE shares. Scotiabank raised their price objective on Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a research report on Monday, March 10th. Royal Bank of Canada dropped their price target on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. JPMorgan Chase & Co. lowered shares of 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 note on Friday, December 20th. The Goldman Sachs Group dropped their target price on shares of Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Finally, Piper Sandler decreased their price target on Lineage from $90.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Seven research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.