40,494 Shares in LandBridge Company LLC $LB Bought by Gunderson Capital Management Inc.

Key Points

• Gunderson Capital Management Inc. acquired 40,494 shares of LandBridge Company LLC, valued at approximately $2.73 million, during the second quarter, representing a small stake of about 0.05% in the company.
• LandBridge recently announced a quarterly dividend of $0.10 per share, resulting in an annualized yield of 0.8% and a dividend payout ratio of 11.24%.
• Analysts have reduced their price targets for LandBridge, with Raymond James adjusting their target from $85 to $75, while Piper Sandler lowered theirs from $70 to $55.

Gunderson Capital Management Inc. acquired a new stake in LandBridge Company LLC (NYSE:LB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 40,494 shares of the company's stock, valued at approximately $2,737,000. Gunderson Capital Management Inc. owned about 0.05% of LandBridge at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LB. First Manhattan CO. LLC. increased its position in shares of LandBridge by 3.1% during the first quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company's stock worth $201,303,000 after acquiring an additional 84,701 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in shares of LandBridge by 5,290.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company's stock worth $85,845,000 after buying an additional 1,171,142 shares during the last quarter. Vanguard Group Inc. increased its position in shares of LandBridge by 17.1% in the 1st quarter. Vanguard Group Inc. now owns 697,748 shares of the company's stock worth $50,196,000 after purchasing an additional 102,085 shares during the last quarter. Schwartz Investment Counsel Inc. raised its stake in shares of LandBridge by 19.9% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 511,268 shares of the company's stock valued at $36,781,000 after purchasing an additional 84,700 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its position in shares of LandBridge by 1.6% during the first quarter. Raymond James Financial Inc. now owns 329,123 shares of the company's stock worth $23,677,000 after purchasing an additional 5,155 shares during the last quarter.

LandBridge Stock Down 1.6%

LB opened at $53.22 on Friday. The stock's 50 day moving average price is $53.57 and its 200 day moving average price is $63.61. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26. The stock has a market cap of $4.07 billion, a P/E ratio of 14.95 and a beta of 0.14. LandBridge Company LLC has a 12 month low of $46.05 and a 12 month high of $87.60.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 annualized dividend and a yield of 0.8%. LandBridge's dividend payout ratio is presently 11.24%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Raymond James Financial reduced their price objective on LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Piper Sandler reduced their price target on shares of LandBridge from $70.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Barclays lowered their price objective on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Finally, Weiss Ratings reaffirmed a "hold (c-)" rating on shares of LandBridge in a report on Saturday, September 27th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $67.00.

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.

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