Prudential Financial Inc. Sells 138,398 Shares of Lineage, Inc. (NASDAQ:LINE)

Prudential Financial Inc. reduced its position in Lineage, Inc. (NASDAQ:LINE) by 66.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,464 shares of the company’s stock after selling 138,398 shares during the period. Prudential Financial Inc.’s holdings in Lineage were worth $4,413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of LINE. Janney Montgomery Scott LLC boosted its holdings in Lineage by 1.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 10,154 shares of the company’s stock worth $595,000 after acquiring an additional 185 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Lineage by 1.0% during the fourth quarter. State of Alaska Department of Revenue now owns 29,724 shares of the company’s stock worth $1,740,000 after purchasing an additional 291 shares during the last quarter. M&T Bank Corp grew its position in Lineage by 9.7% in the 4th quarter. M&T Bank Corp now owns 4,987 shares of the company’s stock worth $292,000 after purchasing an additional 439 shares in the last quarter. GAMMA Investing LLC increased its stake 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 buying an additional 448 shares during the last quarter. Finally, EPIQ Capital Group LLC lifted its position in shares of Lineage by 10.9% during the 4th quarter. EPIQ Capital Group LLC now owns 5,100 shares of the company’s stock worth $301,000 after buying an additional 500 shares in the last quarter.

Insider Activity

In other Lineage news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was bought at an average price of $60.50 per share, with a total value of $1,471,178.50. Following the completion of the purchase, the chairman now owns 24,317 shares of the company’s stock, 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 is available through this link. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

LINE has been the subject of a number of research analyst reports. Scotiabank increased their price target on Lineage from $73.00 to $74.00 and gave the company a “sector outperform” rating in a research report on Monday, March 10th. JPMorgan Chase & Co. downgraded shares of Lineage from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $78.00 to $75.00 in a report on Friday, December 20th. The Goldman Sachs Group decreased their price objective on shares of Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 17th. 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. Finally, Robert W. Baird decreased their price target on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, February 27th. Eight investment 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, Lineage presently has an average rating of “Moderate Buy” and an average price target of $81.06.

Lineage Stock Down 0.6 %

Shares of LINE opened at $58.63 on Tuesday. The business’s 50-day moving average price is $58.58 and its 200-day moving average price is $64.58. 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 twelve month low of $52.75 and a twelve month high of $89.85.

Lineage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be paid a $0.5275 dividend. This represents a $2.11 annualized dividend and a yield of 3.60%. The ex-dividend date of this dividend is Monday, March 31st.

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.