TD Asset Management Inc Takes $2.90 Million Position in LandBridge Company LLC (NYSE:LB)

Key Points

• TD Asset Management Inc acquired 40,252 shares of LandBridge Company LLC, valued at approximately $2.9 million, marking a new position in the company as of the first quarter.
• Other investors, including Atlas Wealth Partners LLC and Private Advisor Group LLC, also significantly increased their stakes in LandBridge during the same period, indicating strong investor interest.
• Analyst ratings for LandBridge are mixed, with a consensus rating of "Hold" and an average price target of $65.86, reflecting some caution after several price target adjustments by major firms.

TD Asset Management Inc acquired a new position in shares of LandBridge Company LLC (NYSE:LB - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,252 shares of the company's stock, valued at approximately $2,896,000. TD Asset Management Inc owned about 0.06% of LandBridge at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Comerica Bank raised its position in LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock valued at $75,000 after purchasing an additional 265 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in shares of LandBridge in the fourth quarter worth about $181,000. Barclays PLC acquired a new stake in shares of LandBridge in the fourth quarter valued at approximately $180,000. B. Riley Wealth Advisors Inc. acquired a new position in LandBridge during the 4th quarter worth $218,000. Finally, Canton Hathaway LLC lifted its stake in shares of LandBridge by 25.2% during the first quarter. Canton Hathaway LLC now owns 4,081 shares of the company's stock valued at $294,000 after acquiring an additional 821 shares during the period.

Insider Activity at LandBridge

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of LandBridge stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $75.25, for a total value of $142,975,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 70.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

LB has been the topic of several recent research reports. Wells Fargo & Company raised their target price on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Johnson Rice downgraded LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Finally, Barclays decreased their price objective on LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, LandBridge presently has an average rating of "Hold" and an average target price of $65.86.

LandBridge Stock Up 4.4%

Shares of NYSE LB traded up $2.41 during mid-day trading on Monday, reaching $57.80. 318,259 shares of the company's stock were exchanged, compared to its average volume of 587,747. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $65.38 and a 200 day simple moving average of $69.17. LandBridge Company LLC has a twelve month low of $28.01 and a twelve month high of $87.60. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of 16.24 and a beta of 0.32.

LandBridge Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Thursday, June 5th. LandBridge's payout ratio is currently 11.24%.

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.