IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 5,663 Shares of Lineage, Inc. (NASDAQ:LINE)

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its holdings in shares of Lineage, Inc. (NASDAQ:LINE) by 12.4% in the fourth quarter, HoldingsChannel reports. The fund owned 40,039 shares of the company’s stock after selling 5,663 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Lineage were worth $2,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Lineage by 4.4% in the fourth quarter. Vanguard Group Inc. now owns 9,595,402 shares of the company’s stock worth $562,003,000 after purchasing an additional 408,526 shares in the last quarter. Wellington Management Group LLP bought a new stake in Lineage during the third quarter valued at about $265,895,000. Baillie Gifford & Co. lifted its position in shares of Lineage by 80.8% in the fourth quarter. Baillie Gifford & Co. now owns 3,098,580 shares of the company’s stock valued at $181,484,000 after acquiring an additional 1,384,481 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Lineage by 36.9% in the fourth quarter. Victory Capital Management Inc. now owns 3,087,088 shares of the company’s stock worth $180,811,000 after acquiring an additional 831,533 shares during the period. Finally, Principal Financial Group Inc. purchased a new stake in shares of Lineage during the third quarter worth about $173,115,000.

Lineage Trading Up 1.1 %

NASDAQ:LINE opened at $59.67 on Thursday. 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 $58.50 and a 200-day simple moving average of $65.18. Lineage, Inc. has a one year low of $52.75 and a one year high of $89.85.

Lineage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, March 31st will be issued a dividend of $0.5275 per share. The ex-dividend date is Monday, March 31st. This represents a $2.11 dividend on an annualized basis and a yield of 3.54%.

Insider Activity

In other news, Chairman Adam Matthew Schwartz Forste acquired 24,317 shares of Lineage stock in a transaction that occurred on Friday, February 28th. The stock was purchased at an average price of $60.50 per share, for a total transaction of $1,471,178.50. Following the purchase, the chairman now directly owns 24,317 shares in the company, valued at $1,471,178.50. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

LINE has been the topic of a number of research analyst reports. Scotiabank boosted their price target on Lineage from $73.00 to $74.00 and gave the stock a “sector outperform” rating in a report on Monday, March 10th. Royal Bank of Canada cut their target price on shares of Lineage from $81.00 to $74.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Mizuho reduced their target price on Lineage from $86.00 to $67.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Robert W. Baird reduced their target price on shares of Lineage from $76.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, The Goldman Sachs Group decreased their price target on Lineage from $89.00 to $77.00 and set a “buy” rating on the stock in a report on Friday, January 17th. Seven 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 stock. According to data from MarketBeat, Lineage has a consensus rating of “Moderate Buy” and a consensus price target 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.