Janus Henderson Group PLC Makes New Investment in LandBridge Co LLC (NYSE:LB)

Janus Henderson Group PLC purchased a new stake in LandBridge Co LLC (NYSE:LB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,127 shares of the company's stock, valued at approximately $719,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hood River Capital Management LLC acquired a new stake in shares of LandBridge in the fourth quarter valued at $41,431,000. Vanguard Group Inc. purchased a new position in LandBridge during the 4th quarter valued at about $38,480,000. First Manhattan CO. LLC. boosted its holdings in LandBridge by 23.5% during the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock valued at $175,292,000 after acquiring an additional 516,380 shares during the period. Raymond James Financial Inc. acquired a new position in LandBridge in the 4th quarter valued at about $20,928,000. Finally, Burkehill Global Management LP purchased a new stake in LandBridge during the fourth quarter worth about $15,262,000.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LB shares. Barclays boosted their target price on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. Wells Fargo & Company upped their target price on shares of LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Piper Sandler decreased their price target on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research note on Friday, March 7th. Johnson Rice cut shares of LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. Finally, The Goldman Sachs Group increased their price objective on shares of LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat.com, LandBridge presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.67.

LandBridge Trading Down 2.8%

Shares of NYSE:LB traded down $2.14 during mid-day trading on Thursday, hitting $74.00. The stock had a trading volume of 406,506 shares, compared to its average volume of 497,610. The company has a market cap of $5.41 billion and a PE ratio of 20.79. The company's 50 day moving average is $72.71 and its 200-day moving average is $70.08. 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 12-month low of $18.75 and a 12-month high of $87.60.

LandBridge Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, June 5th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.54%. The ex-dividend date is Thursday, June 5th. LandBridge's dividend payout ratio is currently 11.24%.

Insider Buying and Selling

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of the business's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $75.25, for a total value of $142,975,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 70.42% of the stock is currently owned by corporate insiders.

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.