Man Group plc Takes $591,000 Position in LandBridge Co LLC (NYSE:LB)

Man Group plc bought a new position in LandBridge Co LLC (NYSE:LB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,155 shares of the company's stock, valued at approximately $591,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Horizon Kinetics Asset Management LLC raised its position in LandBridge by 4.0% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company's stock worth $348,793,000 after buying an additional 208,408 shares during the last quarter. First Manhattan CO. LLC. increased its stake in LandBridge by 23.5% during the fourth quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock worth $175,292,000 after acquiring an additional 516,380 shares during the last quarter. Hood River Capital Management LLC bought a new stake in shares of LandBridge during the 4th quarter worth approximately $41,431,000. Vanguard Group Inc. bought a new position in LandBridge in the 4th quarter worth about $38,480,000. Finally, Schwartz Investment Counsel Inc. raised its holdings in shares of LandBridge by 1.0% in the 4th 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 Price Performance

LandBridge stock traded down $2.07 during trading on Friday, reaching $72.08. The company had a trading volume of 75,427 shares, compared to its average volume of 582,931. The firm has a market capitalization of $5.27 billion and a PE ratio of 20.22. The firm's 50-day simple moving average is $72.71 and its 200 day simple 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 1-year low of $18.75 and a 1-year high of $87.60.

LandBridge Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued 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 currently 11.24%.

Wall Street Analyst Weigh In

LB has been the subject of several recent analyst reports. Johnson Rice downgraded shares of LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Piper Sandler decreased their target price on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, March 7th. The Goldman Sachs Group lifted their price objective on LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research note on Wednesday, March 26th. Wells Fargo & Company boosted their price target on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Barclays raised their price objective on shares of LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Friday, March 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, LandBridge presently has an average rating of "Moderate Buy" and an average target price of $60.67.

Insider Activity

In related news, Director David N. Capobianco sold 1,900,000 shares of the business's stock in a transaction dated 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 is available through this hyperlink. Company insiders own 70.42% of the company's stock.

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.