Mackenzie Financial Corp Takes $544,000 Position in LandBridge Co LLC (NYSE:LB)

Mackenzie Financial Corp acquired a new position in shares of LandBridge Co LLC (NYSE:LB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,416 shares of the company's stock, valued at approximately $544,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LB. Hood River Capital Management LLC acquired a new stake in shares of LandBridge during the fourth quarter worth $41,431,000. Vanguard Group Inc. bought a new position in LandBridge during the fourth quarter worth about $38,480,000. First Manhattan CO. LLC. raised 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. Raymond James Financial Inc. acquired a new stake in LandBridge in the 4th quarter worth about $20,928,000. Finally, Oasis Management Co Ltd. bought a new stake in LandBridge in the 4th quarter valued at about $18,832,000.

LandBridge Price Performance

Shares of LandBridge stock traded up $0.22 during midday trading on Thursday, hitting $72.44. 164,308 shares of the company traded hands, compared to its average volume of 494,776. The firm's fifty day moving average price is $72.42 and its 200-day moving average price is $70.17. The stock has a market cap of $5.30 billion and a price-to-earnings ratio of 20.33. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month 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.

LandBridge Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.55%. LandBridge's payout ratio is presently 11.24%.

Insider Transactions at LandBridge

In other LandBridge news, Director David N. Capobianco sold 1,900,000 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $75.25, for a total transaction of $142,975,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 70.42% of the company's stock.

Analyst Upgrades and Downgrades

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

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.