204,475 LandBridge Company LLC $LB Shares Sold by Cortland Associates Inc. MO

Key Points

• Cortland Associates cut its LandBridge stake by 53.2% in the third quarter, selling 204,475 shares and retaining 179,842 shares valued at approximately $14.6 million.
• LandBridge shares opened at $79.37 after a reported 5.1% decline. The stock trades at a P/E ratio of 72.64 and has a 52-week range of $43.75 to $91.69.
• The company paid a quarterly dividend of $0.12, equivalent to $0.48 annually and a 0.6% yield. Analysts collectively rate the stock “Hold,” with an average price target of $83.00.

Cortland Associates Inc. MO decreased its stake in shares of LandBridge Company LLC (NYSE:LB - Free Report) by 53.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 179,842 shares of the company's stock after selling 204,475 shares during the quarter. LandBridge comprises about 2.1% of Cortland Associates Inc. MO's portfolio, making the stock its 20th largest holding. Cortland Associates Inc. MO owned approximately 0.23% of LandBridge worth $14,598,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of LB. Pinnacle Wealth Planning Services Inc. increased its holdings in LandBridge by 20.2% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,533 shares of the company's stock valued at $124,000 after acquiring an additional 258 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in LandBridge by 564.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 518 shares of the company's stock worth $36,000 after purchasing an additional 440 shares in the last quarter. Childress Capital Advisors LLC boosted its holdings in shares of LandBridge by 7.7% during the 1st quarter. Childress Capital Advisors LLC now owns 7,325 shares of the company's stock valued at $506,000 after purchasing an additional 525 shares during the last quarter. Atlas Wealth Partners LLC boosted its holdings in shares of LandBridge by 1.6% during the 1st quarter. Atlas Wealth Partners LLC now owns 38,030 shares of the company's stock valued at $2,626,000 after purchasing an additional 597 shares during the last quarter. Finally, Markowski Investments bought a new position in shares of LandBridge during the 2nd quarter valued at about $54,000.

LandBridge Trading Down 5.1%

Shares of LB opened at $79.37 on Tuesday. The stock has a market capitalization of $6.12 billion, a PE ratio of 72.64 and a beta of 0.17. The company's fifty day moving average is $84.11 and its 200 day moving average is $73.52. The company has a debt-to-equity ratio of 0.64, a quick ratio of 7.27 and a current ratio of 7.27. LandBridge Company LLC has a fifty-two week low of $43.75 and a fifty-two week high of $91.69.

LandBridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Thursday, August 27th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend was Thursday, August 27th. LandBridge's dividend payout ratio (DPR) is presently 42.48%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Piper Sandler raised their price objective on LandBridge from $80.00 to $88.00 and gave the company a "neutral" rating in a research report on Tuesday, September 1st. Weiss Ratings downgraded LandBridge from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, October 27th. Citigroup boosted their target price on LandBridge from $66.00 to $86.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 26th. Zacks Research lowered LandBridge from a "hold" rating to a "strong sell" rating in a research note on Tuesday, October 13th. Finally, Raymond James Financial restated an "outperform" rating and set a $91.00 price target on shares of LandBridge in a report on Monday, October 19th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $83.00.

LandBridge Company Profile

LandBridge Company NYSE: LB is a landowner and infrastructure-focused real estate company serving the energy and industrial sectors. The company owns and manages large tracts of land in the Permian Basin, primarily in West Texas and southeastern New Mexico, one of the leading oil and natural gas producing regions in the United States.

LandBridge generates revenue by providing access to its properties and related resources. Its activities include surface-use agreements, easements, rights-of-way, water services, mineral and royalty interests, and accommodations for energy, logistics, and infrastructure projects.

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