Raymond James Financial Inc. Acquires 5,155 Shares of LandBridge Company LLC $LB

Key Points

• Raymond James Financial Inc. increased its stake in LandBridge Company LLC by 1.6%, acquiring an additional 5,155 shares during the 1st quarter, bringing its total ownership to 329,123 shares worth approximately $23.7 million.
• LandBridge recently announced a quarterly dividend of $0.10 per share, with a payout ratio of 11.24%, payable on September 18th to shareholders of record as of September 4th.
• Analyst ratings for LandBridge have recently changed, with Piper Sandler lowering their target price from $70.00 to $55.00, while Wells Fargo & Company increased their target from $82.00 to $93.00, indicating varied sentiment among investment firms.

Raymond James Financial Inc. grew its position in LandBridge Company LLC (NYSE:LB - Free Report) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 329,123 shares of the company's stock after acquiring an additional 5,155 shares during the quarter. Raymond James Financial Inc. owned 0.45% of LandBridge worth $23,677,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. First Manhattan CO. LLC. lifted its position in shares of 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 acquiring an additional 516,380 shares during the period. Vanguard Group Inc. lifted its position in shares of LandBridge by 17.1% in the 1st quarter. Vanguard Group Inc. now owns 697,748 shares of the company's stock worth $50,196,000 after acquiring an additional 102,085 shares during the period. Schwartz Investment Counsel Inc. lifted its position in shares of LandBridge by 19.9% in the 1st quarter. Schwartz Investment Counsel Inc. now owns 511,268 shares of the company's stock worth $36,781,000 after acquiring an additional 84,700 shares during the period. Oasis Management Co Ltd. bought a new stake in shares of LandBridge in the 4th quarter worth approximately $18,832,000. Finally, Mad River Investors lifted its position in shares of LandBridge by 0.3% in the 1st quarter. Mad River Investors now owns 234,253 shares of the company's stock worth $16,852,000 after acquiring an additional 801 shares during the period.

LandBridge Price Performance

NYSE LB traded up $0.58 during trading hours on Friday, reaching $53.11. 238,935 shares of the company's stock were exchanged, compared to its average volume of 553,172. The stock has a market cap of $4.07 billion, a PE ratio of 14.92 and a beta of 0.26. LandBridge Company LLC has a one year low of $32.28 and a one year high of $87.60. The firm has a fifty day moving average of $57.71 and a 200-day moving average of $66.78. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.54.

LandBridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, September 4th. LandBridge's dividend payout ratio is 11.24%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company upped their price objective on LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a research note on Friday, May 16th. Barclays lowered their price objective on LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 10th. Raymond James Financial lowered their price objective on LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, August 8th. Piper Sandler lowered their price objective on LandBridge from $70.00 to $55.00 and set a "neutral" rating on the stock in a research note on Friday, August 15th. Finally, Johnson Rice lowered LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $62.29.

About LandBridge

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.