Key Client Fiduciary Advisors LLC bought a new position in shares of LandBridge Co LLC (NYSE:LB - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 9,465 shares of the company's stock, valued at approximately $681,000.
Several other hedge funds have also recently modified their holdings of LB. Horizon Kinetics Asset Management LLC boosted its position in LandBridge by 4.0% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company's stock worth $348,793,000 after acquiring an additional 208,408 shares during the last quarter. First Manhattan CO. LLC. lifted its stake in LandBridge by 23.5% in the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock worth $175,292,000 after purchasing an additional 516,380 shares in the last quarter. Hood River Capital Management LLC acquired a new position in shares of LandBridge during the 4th quarter worth approximately $41,431,000. Vanguard Group Inc. purchased a new stake in shares of LandBridge in the fourth quarter valued at approximately $38,480,000. Finally, Schwartz Investment Counsel Inc. grew its position in shares of LandBridge by 1.0% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company's stock valued at $27,556,000 after purchasing an additional 4,400 shares in the last quarter.
LandBridge Stock Down 0.6%
LB stock traded down $0.41 during midday trading on Thursday, reaching $71.91. 316,430 shares of the company were exchanged, compared to its average volume of 495,149. The stock's 50-day simple moving average is $72.42 and its 200 day simple moving average is $70.17. LandBridge Co LLC has a 1-year low of $18.75 and a 1-year high of $87.60. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market cap of $5.26 billion and a price-to-earnings ratio of 20.20.
LandBridge Announces Dividend
The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Thursday, June 5th. LandBridge's dividend payout ratio is presently 11.24%.
Insiders Place Their Bets
In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total value of $142,975,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 70.42% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the company. The Goldman Sachs Group boosted their price objective on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research note on Wednesday, March 26th. Piper Sandler lowered their price target on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Johnson Rice cut shares of LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Wells Fargo & Company lifted 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. Finally, Barclays increased their price target on shares of LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $60.67.
Read Our Latest Research Report on LandBridge
About LandBridge
(
Free Report)
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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