California State Teachers Retirement System Invests $1.05 Million in LandBridge Co LLC (NYSE:LB)

California State Teachers Retirement System acquired a new position in LandBridge Co LLC (NYSE:LB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,231 shares of the company's stock, valued at approximately $1,049,000.

Several other large investors also recently added to or reduced their stakes in the business. Fairway Wealth LLC bought a new position in shares of LandBridge in the fourth quarter worth about $50,000. Generali Investments Management Co LLC purchased a new stake in LandBridge in the 4th quarter worth approximately $52,000. KBC Group NV purchased a new stake in LandBridge in the 4th quarter worth approximately $72,000. Comerica Bank raised its stake in LandBridge by 29.7% during 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 period. Finally, Blue Trust Inc. purchased a new position in LandBridge during the fourth quarter valued at approximately $110,000.

LandBridge Price Performance

Shares of LB traded up $0.70 during midday trading on Thursday, hitting $71.50. 68,017 shares of the company traded hands, compared to its average volume of 492,217. The stock has a market cap of $5.23 billion and a price-to-earnings ratio of 20.08. The firm has a 50 day moving average of $72.77 and a 200-day moving average of $70.32. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. LandBridge Co LLC has a 52 week low of $18.75 and a 52 week high of $87.60.

LandBridge Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Thursday, June 5th. LandBridge's payout ratio is presently 11.24%.

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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 70.42% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LB. Johnson Rice lowered shares of LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Barclays increased their price target on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Piper Sandler decreased their price target on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Wells Fargo & Company upped their price objective on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Finally, The Goldman Sachs Group increased their target price on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research report 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 stock. According to data from MarketBeat, LandBridge has an average rating of "Moderate Buy" and an average price target of $60.67.

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.