Charles Schwab Investment Management Inc. Acquires 346,916 Shares of Lineage, Inc. (NASDAQ:LINE)

Charles Schwab Investment Management Inc. increased its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 197.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 522,798 shares of the company’s stock after purchasing an additional 346,916 shares during the period. Charles Schwab Investment Management Inc. owned 0.23% of Lineage worth $30,620,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP bought a new position in Lineage during the third quarter worth about $265,895,000. Baillie Gifford & Co. boosted its holdings in shares of Lineage by 80.8% during the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company’s stock worth $181,484,000 after acquiring an additional 1,384,481 shares during the period. Principal Financial Group Inc. bought a new stake in shares of Lineage during the third quarter worth approximately $173,115,000. Janus Henderson Group PLC bought a new stake in shares of Lineage during the third quarter worth approximately $131,875,000. Finally, State Street Corp bought a new stake in shares of Lineage during the third quarter worth approximately $113,483,000.

Insider Buying and Selling at Lineage

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of the stock in a transaction on Friday, February 28th. The stock was acquired at an average cost 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 approximately $1,471,178.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Lineage from $89.00 to $77.00 and set a “buy” rating for the company in a report on Friday, January 17th. Mizuho reduced their price objective on Lineage from $86.00 to $67.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Scotiabank boosted their price objective on Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a report on Monday, March 10th. JPMorgan Chase & Co. cut Lineage from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $78.00 to $75.00 in a report on Friday, December 20th. Finally, Royal Bank of Canada reduced their price objective on Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.06.

Lineage Price Performance

Shares of LINE opened at $58.54 on Monday. Lineage, Inc. has a one year low of $52.75 and a one 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. The firm has a 50 day simple moving average of $57.93 and a two-hundred day simple moving average of $66.36.

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.