Baird Financial Group Inc. Invests $1.24 Million in LandBridge Co LLC (NYSE:LB)

Baird Financial Group Inc. bought a new position in LandBridge Co LLC (NYSE:LB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,175 shares of the company's stock, valued at approximately $1,239,000.

A number of other hedge funds have also modified their holdings of the stock. Sandbox Financial Partners LLC bought a new stake in LandBridge during the 4th quarter worth approximately $637,000. Annex Advisory Services LLC bought a new stake in LandBridge during the 4th quarter worth approximately $1,165,000. Mad River Investors grew its position in LandBridge by 0.4% during the 4th quarter. Mad River Investors now owns 233,452 shares of the company's stock worth $15,081,000 after acquiring an additional 902 shares during the last quarter. Segment Wealth Management LLC bought a new stake in LandBridge during the 4th quarter worth approximately $323,000. Finally, KBC Group NV bought a new stake in LandBridge during the 4th quarter worth approximately $72,000.

LandBridge Trading Up 5.4%

Shares of NYSE:LB traded up $4.37 during midday trading on Friday, hitting $84.69. The company had a trading volume of 503,411 shares, compared to its average volume of 498,861. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month high of $85.22. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock has a market cap of $6.20 billion and a price-to-earnings ratio of 23.79. The firm has a fifty day simple moving average of $71.99 and a 200 day simple moving average of $69.02.

LandBridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.47%. LandBridge's payout ratio is 11.24%.

Analysts Set New Price Targets

LB has been the topic of a number of research analyst reports. Wells Fargo & Company increased their price target on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday. Piper Sandler decreased their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. The Goldman Sachs Group increased their price objective on LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. Raymond James increased their price objective on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. Finally, Barclays increased their price objective on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research report on Friday, March 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $60.67.

About LandBridge

LandBridge Company LLC owns and manages land and resources to support and enhance oil and natural gas development in the United States. It owns surface acres in and around the Delaware Basin in Texas and New Mexico. The company holds a portfolio of oil and gas royalties. It also sells brackish water and other surface composite materials.