Kingswood Wealth Advisors LLC Invests $2.14 Million in LandBridge Company LLC (NYSE:LB)

Kingswood Wealth Advisors LLC bought a new position in shares of LandBridge Company LLC (NYSE:LB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,755 shares of the company's stock, valued at approximately $2,141,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Horizon Kinetics Asset Management LLC raised its holdings in LandBridge by 4.0% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company's stock valued at $348,793,000 after acquiring an additional 208,408 shares during the period. First Manhattan CO. LLC. raised its stake in LandBridge by 23.5% during the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock valued at $175,292,000 after purchasing an additional 516,380 shares during the period. Hood River Capital Management LLC bought a new stake in LandBridge during the 4th quarter valued at approximately $41,431,000. Vanguard Group Inc. bought a new stake in shares of LandBridge during the fourth quarter valued at approximately $38,480,000. Finally, Raymond James Financial Inc. bought a new stake in shares of LandBridge during the fourth quarter valued at approximately $20,928,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on LB shares. Wells Fargo & Company lifted their price objective on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research report on Friday, May 16th. Johnson Rice downgraded shares of LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. Barclays lifted their target price on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. Piper Sandler reduced their target price on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Finally, The Goldman Sachs Group lifted their price objective on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, LandBridge presently has an average rating of "Moderate Buy" and an average target price of $60.67.

LandBridge Trading Down 3.1%

NYSE LB traded down $2.19 during trading hours on Friday, hitting $68.80. 754,236 shares of the company were exchanged, compared to its average volume of 491,024. The stock has a 50-day moving average price of $73.77 and a 200 day moving average price of $70.07. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 0.60. LandBridge Company LLC has a 52 week low of $18.75 and a 52 week high of $87.60. The stock has a market cap of $5.03 billion and a PE ratio of 19.32.

LandBridge Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend was Thursday, June 5th. LandBridge's dividend payout ratio (DPR) is 11.24%.

Insider Buying and Selling at LandBridge

In other news, Director David N. Capobianco sold 1,900,000 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total transaction of $142,975,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 70.42% of the company's stock.

LandBridge Company 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.