Principal Financial Group Inc. Invests $173.12 Million in Lineage, Inc. (NASDAQ:LINE)

Principal Financial Group Inc. acquired a new stake in shares of Lineage, Inc. (NASDAQ:LINE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,208,682 shares of the company’s stock, valued at approximately $173,115,000. Principal Financial Group Inc. owned about 0.97% of Lineage at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LINE. Sequoia Financial Advisors LLC acquired a new position in shares of Lineage during the 3rd quarter worth $23,893,000. abrdn plc bought a new stake in Lineage in the third quarter worth $1,000,000. Seven Grand Managers LLC acquired a new position in Lineage during the third quarter worth $24,298,000. SG Americas Securities LLC bought a new position in Lineage during the third quarter valued at about $658,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Lineage in the third quarter worth about $4,871,000.

Lineage Stock Up 0.4 %

Shares of LINE stock opened at $68.08 on Friday. The company has a debt-to-equity ratio of 1.93, a current ratio of 1.10 and a quick ratio of 0.95. The business has a fifty day moving average price of $78.01. Lineage, Inc. has a one year low of $66.94 and a one year high of $89.85.

Lineage Announces Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on LINE. Morgan Stanley assumed coverage on Lineage in a research note on Monday, August 19th. They issued an “overweight” rating and a $100.00 price objective on the stock. Baird R W raised shares of Lineage to a “strong-buy” rating in a research report on Monday, August 19th. 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. KeyCorp initiated coverage on shares of Lineage in a research report on Monday, August 19th. They set an “overweight” rating and a $92.00 target price for the company. Finally, Evercore ISI lowered their price target on Lineage from $88.00 to $78.00 and set an “in-line” rating on the stock in a research report on Thursday. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.50.

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.