Principal Financial Group Inc. Acquires Shares of 2,208,682 Lineage, Inc. (NASDAQ:LINE)

Principal Financial Group Inc. purchased a new position in Lineage, Inc. (NASDAQ:LINE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,208,682 shares of the company’s stock, valued at approximately $173,115,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. US Bancorp DE acquired a new stake in Lineage in the third quarter valued at $25,000. Larson Financial Group LLC bought a new position in Lineage during the 3rd quarter worth approximately $34,000. Spirit of America Management Corp NY bought a new stake in shares of Lineage in the 3rd quarter valued at approximately $165,000. Stifel Financial Corp bought a new position in Lineage during the third quarter worth $211,000. Finally, MetLife Investment Management LLC bought a new stake in Lineage in the 3rd quarter valued at about $226,000.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on LINE shares. Scotiabank decreased their price target on Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a research note on Tuesday, December 10th. Royal Bank of Canada dropped their price target on shares of Lineage from $94.00 to $81.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Robert W. Baird decreased their price objective on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Evercore ISI dropped their target price on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a report on Thursday, November 7th. Finally, Capital One Financial assumed coverage on Lineage in a research report on Monday, September 16th. They set an “overweight” rating and a $91.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $89.63.

Lineage Trading Down 4.4 %

Lineage stock opened at $56.90 on Friday. The company has a 50 day moving average of $67.98. Lineage, Inc. has a twelve month low of $56.87 and a twelve 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.

Lineage (NASDAQ:LINE) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.44) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($3.22). Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter in the prior year, the business posted $0.75 earnings per share. Lineage’s revenue was up .5% on a year-over-year basis. As a group, sell-side analysts expect that Lineage, Inc. will post 3 earnings per share for the current fiscal year.

Lineage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, December 31st will be paid a $0.5275 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $2.11 annualized dividend and a dividend yield of 3.71%.

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.