Moors & Cabot Inc. Sells 35,799 Shares of LandBridge Company LLC (NYSE:LB)

Key Points

• Moors & Cabot Inc. has reduced its stake in LandBridge Company LLC by 18%, now owning approximately 162,926 shares valued at $11.72 million after selling 35,799 shares in the 1st quarter.
• Several hedge funds, including US Bancorp DE and Comerica Bank, have recently adjusted their positions in LandBridge, indicating a growing interest among institutional investors.
• LandBridge announced a quarterly dividend of $0.10 per share, reflecting a 0.7% yield and a payout ratio of 11.24% as of its recent declarations.

Moors & Cabot Inc. trimmed its holdings in shares of LandBridge Company LLC (NYSE:LB - Free Report) by 18.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 162,926 shares of the company's stock after selling 35,799 shares during the period. Moors & Cabot Inc. owned approximately 0.22% of LandBridge worth $11,721,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Atlas Wealth Partners LLC raised its stake in shares of LandBridge by 69.7% in the 1st quarter. Atlas Wealth Partners LLC now owns 11,645 shares of the company's stock valued at $838,000 after acquiring an additional 4,781 shares in the last quarter. Sigma Planning Corp bought a new position in LandBridge in the first quarter worth $362,000. Penserra Capital Management LLC bought a new position in LandBridge in the first quarter worth $1,788,000. Legal & General Group Plc acquired a new stake in LandBridge in the 4th quarter valued at $689,000. Finally, Stephens Inc. AR acquired a new stake in LandBridge in the 1st quarter valued at $681,000.

Insider Buying and Selling at LandBridge

In related news, Director David N. Capobianco sold 1,900,000 shares of the 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 legal filing with the SEC, which is accessible through this link. Insiders own 70.42% of the company's stock.

Analyst Ratings Changes

LB has been the subject of several research analyst reports. Barclays cut their price objective on LandBridge from $80.00 to $66.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Wells Fargo & Company upped their price objective on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Johnson Rice cut LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $65.86.

LandBridge Stock Up 0.3%

LandBridge stock traded up $0.15 during midday trading on Tuesday, reaching $58.08. The stock had a trading volume of 211,625 shares, compared to its average volume of 584,939. The company has a market capitalization of $4.44 billion, a P/E ratio of 16.28 and a beta of 0.32. The company has a current ratio of 3.70, a quick ratio of 3.70 and a debt-to-equity ratio of 0.60. LandBridge Company LLC has a 12 month low of $30.06 and a 12 month high of $87.60. The company has a fifty day moving average price of $64.97 and a two-hundred day moving average price of $69.05.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. LandBridge's dividend payout ratio is presently 11.24%.

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.