Galvin Gaustad & Stein LLC Acquires Shares of 159,426 Lineage, Inc. (NASDAQ:LINE)

Galvin Gaustad & Stein LLC purchased a new position in shares of Lineage, Inc. (NASDAQ:LINE) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 159,426 shares of the company’s stock, valued at approximately $9,338,000. Galvin Gaustad & Stein LLC owned approximately 0.07% of Lineage as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE acquired a new position in shares of Lineage during the 3rd quarter worth about $25,000. GAMMA Investing LLC increased its position in Lineage by 7,466.7% during the 4th quarter. GAMMA Investing LLC now owns 454 shares of the company’s stock worth $27,000 after purchasing an additional 448 shares in the last quarter. Larson Financial Group LLC acquired a new position in Lineage in the 3rd quarter valued at approximately $34,000. Spirit of America Management Corp NY acquired a new position in Lineage in the 3rd quarter valued at approximately $165,000. Finally, Stifel Financial Corp bought a new stake in shares of Lineage in the 3rd quarter valued at $211,000.

Wall Street Analysts Forecast Growth

LINE has been the subject of a number of analyst reports. Evercore ISI reduced their price objective on shares of Lineage from $88.00 to $78.00 and set an “in-line” rating for the company in a report on Thursday, November 7th. The Goldman Sachs Group reduced their price objective on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Scotiabank cut their price target on shares of Lineage from $94.00 to $76.00 and set a “sector outperform” rating for the company in a research note on Tuesday, December 10th. Mizuho cut their price objective on shares of Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Finally, 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. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $85.06.

Lineage Price Performance

Lineage stock opened at $59.97 on Thursday. 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, Inc. has a fifty-two week low of $52.75 and a fifty-two week high of $89.85. The firm has a fifty day moving average price of $60.43.

Lineage (NASDAQ:LINE) last released its earnings results on Wednesday, November 6th. The company reported ($2.44) earnings per share for the quarter, missing the consensus estimate of $0.78 by ($3.22). The business had revenue of $1.34 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The business’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the company posted $0.75 earnings per share. Research analysts anticipate that Lineage, Inc. will post 2.33 earnings per share for the current fiscal year.

Lineage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.5275 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.11 dividend on an annualized basis 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.