Amundi Buys New Holdings in LandBridge Company LLC $LB

Key Points

• Amundi has acquired a new stake in LandBridge Company LLC, purchasing 86,834 shares valued at about $5.76 million, bringing its total ownership to approximately 0.12% as of the end of the most recent quarter.
• Other institutional investors, including T. Rowe Price and Vanguard Group, also increased their holdings significantly in LandBridge during the first quarter, indicating growing confidence in the company.
• LandBridge recently announced a quarterly dividend of $0.10 per share, translating to an annual yield of 0.8%, with a payout ratio of 11.24%.

Amundi bought a new position in shares of LandBridge Company LLC (NYSE:LB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 86,834 shares of the company's stock, valued at approximately $5,763,000. Amundi owned approximately 0.12% of LandBridge as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. US Bancorp DE purchased a new stake in LandBridge during the first quarter worth about $28,000. Deutsche Bank AG bought a new stake in LandBridge during the first quarter valued at approximately $55,000. Comerica Bank lifted its holdings in shares of LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after acquiring an additional 265 shares during the last quarter. PNC Financial Services Group Inc. purchased a new position in shares of LandBridge in the first quarter worth $102,000. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of LandBridge by 8,533.3% in the first quarter. Caitong International Asset Management Co. Ltd now owns 1,554 shares of the company's stock worth $112,000 after buying an additional 1,536 shares during the period.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Raymond James Financial reduced their target price on shares of LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Johnson Rice cut shares of LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Barclays lowered their price objective on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Finally, Piper Sandler decreased their target price on shares of LandBridge from $70.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Four equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $67.00.

LandBridge Trading Up 1.1%

LB traded up $0.57 on Tuesday, reaching $52.13. 214,128 shares of the company traded hands, compared to its average volume of 332,812. LandBridge Company LLC has a one year low of $36.80 and a one year high of $87.60. The firm has a fifty day simple moving average of $54.43 and a two-hundred day simple moving average of $65.50. The company has a market cap of $3.99 billion, a P/E ratio of 14.64 and a beta of 0.25. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.54.

LandBridge Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.10 per share. The ex-dividend date is Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. LandBridge's payout ratio is presently 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.