Amundi Acquires New Shares 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 acquired a new stake in LandBridge Company LLC (NYSE:LB - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 86,834 shares of the company's stock, valued at approximately $5,763,000. Amundi owned about 0.12% of LandBridge at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. First Manhattan CO. LLC. increased its holdings in LandBridge by 3.1% in the first quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company's stock valued at $201,303,000 after purchasing an additional 84,701 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in 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 valued at $85,845,000 after purchasing an additional 1,171,142 shares during the last quarter. Vanguard Group Inc. increased its holdings in LandBridge by 17.1% in the first quarter. Vanguard Group Inc. now owns 697,748 shares of the company's stock valued at $50,196,000 after purchasing an additional 102,085 shares during the last quarter. Schwartz Investment Counsel Inc. increased its holdings in LandBridge by 19.9% in the first 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 during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in LandBridge by 1.6% in the first quarter. Raymond James Financial Inc. now owns 329,123 shares of the company's stock valued at $23,677,000 after purchasing an additional 5,155 shares during the last quarter.

LandBridge Stock Up 2.8%

LB stock opened at $52.41 on Thursday. 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 capitalization of $4.01 billion, a P/E ratio of 14.72 and a beta of 0.25. The business has a 50-day moving average of $55.41 and a 200-day moving average of $65.85. LandBridge Company LLC has a fifty-two week low of $32.28 and a fifty-two week high of $87.60.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 4th. LandBridge's dividend payout ratio is currently 11.24%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LB. Piper Sandler decreased their target price on LandBridge from $70.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, August 15th. Wells Fargo & Company boosted their target price on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Raymond James Financial decreased their target price on LandBridge from $85.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, August 8th. Johnson Rice cut LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Finally, Barclays decreased their target price 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. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $62.29.

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.

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