Zurcher Kantonalbank Zurich Cantonalbank Makes New Investment in Lineage, Inc. (NASDAQ:LINE)

Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Lineage, Inc. (NASDAQ:LINE) in the third quarter, Holdings Channel.com reports. The institutional investor bought 12,706 shares of the company’s stock, valued at approximately $996,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp purchased a new stake in Lineage in the 3rd quarter worth about $833,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Lineage in the third quarter worth approximately $23,893,000. Nicola Wealth Management LTD. acquired a new stake in shares of Lineage during the third quarter worth approximately $658,000. abrdn plc purchased a new position in Lineage during the third quarter valued at approximately $1,000,000. Finally, Baillie Gifford & Co. purchased a new position in Lineage during the third quarter valued at approximately $134,351,000.

Lineage Stock Up 0.2 %

Shares of NASDAQ:LINE opened at $62.90 on Friday. 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 company has a 50-day simple moving average of $70.94. Lineage, Inc. has a 52-week low of $61.75 and a 52-week high of $89.85.

Lineage (NASDAQ:LINE) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($2.44) EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($3.22). The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.34 billion. Lineage had a negative return on equity of 9.89% and a negative net margin of 12.18%. The firm’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.75 earnings per share. On average, analysts expect that Lineage, Inc. will post 3 earnings per share for the current year.

Lineage Announces Dividend

The business also recently declared a — dividend, which was paid on Monday, October 21st. Shareholders of record on Monday, September 30th were given a $0.38 dividend. The ex-dividend date of this dividend was Monday, September 30th.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Robert W. Baird decreased their target price on shares of Lineage from $91.00 to $85.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Capital One Financial initiated coverage on Lineage in a research note on Monday, September 16th. They issued an “overweight” rating and a $91.00 target price on the stock. UBS Group started coverage on Lineage in a research note on Monday, August 19th. They set a “neutral” rating and a $88.00 price target for the company. Mizuho started coverage on Lineage in a research note on Monday, August 19th. They issued a “neutral” rating and a $86.00 price target for the company. Finally, KeyCorp assumed coverage on Lineage in a report on Monday, August 19th. They issued an “overweight” rating and a $92.00 price objective on the stock. Five 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $90.75.

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.