Voloridge Investment Management LLC Invests $1.52 Million in LandBridge Co LLC (NYSE:LB)

Voloridge Investment Management LLC purchased a new position in LandBridge Co LLC (NYSE:LB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,573 shares of the company's stock, valued at approximately $1,523,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LB. Fairway Wealth LLC bought a new stake in LandBridge in the fourth quarter worth $50,000. Generali Investments Management Co LLC purchased a new stake in LandBridge during the fourth quarter valued at $52,000. KBC Group NV bought a new position in shares of LandBridge in the fourth quarter worth about $72,000. Comerica Bank raised its stake in shares of LandBridge by 29.7% in the fourth quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after buying an additional 265 shares during the period. Finally, Blue Trust Inc. bought a new position in shares of LandBridge in the fourth quarter worth about $110,000.

Insider Activity at LandBridge

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total value of $142,975,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 70.42% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on LB shares. Wells Fargo & Company increased their target price on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Johnson Rice downgraded LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Piper Sandler cut their target price 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 boosted their target price on LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. Finally, Barclays boosted their target price 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 analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $60.67.

LandBridge Trading Down 3.4%

LB traded down $2.54 during trading hours on Friday, reaching $71.61. 599,165 shares of the company's stock traded hands, compared to its average volume of 498,051. The firm has a 50-day moving average price of $72.56 and a 200 day moving average price of $70.08. LandBridge Co LLC has a 52-week low of $18.75 and a 52-week high of $87.60. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $5.24 billion and a PE ratio of 20.12.

LandBridge Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Thursday, June 5th. LandBridge's payout ratio is currently 11.24%.

LandBridge Profile

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.