Raymond James Financial Inc. Buys 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. raised its stake in shares of LandBridge Company LLC (NYSE:LB - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 329,123 shares of the company's stock after buying an additional 5,155 shares during the period. Raymond James Financial Inc. owned 0.45% of LandBridge worth $23,677,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Comerica Bank raised its holdings in LandBridge by 29.7% during the fourth quarter. Comerica Bank now owns 1,158 shares of the company's stock valued at $75,000 after buying an additional 265 shares in the last quarter. Pekin Hardy Strauss Inc. raised its holdings in LandBridge by 2.1% during the first quarter. Pekin Hardy Strauss Inc. now owns 13,200 shares of the company's stock valued at $950,000 after buying an additional 275 shares in the last quarter. US Bancorp DE bought a new position in LandBridge during the first quarter valued at about $28,000. Cortland Associates Inc. MO raised its holdings in LandBridge by 0.5% during the first quarter. Cortland Associates Inc. MO now owns 151,269 shares of the company's stock valued at $10,882,000 after buying an additional 696 shares in the last quarter. Finally, Deutsche Bank AG bought a new position in LandBridge during the first quarter valued at about $55,000.

LandBridge Trading Down 3.6%

Shares of LB opened at $52.1310 on Tuesday. LandBridge Company LLC has a 12-month low of $32.28 and a 12-month high of $87.60. The company has a quick ratio of 4.26, a current ratio of 4.26 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 14.64 and a beta of 0.32. The stock's 50-day moving average price is $59.13 and its 200 day moving average price is $67.30.

LandBridge Announces Dividend

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

Analyst Ratings Changes

Several research firms have weighed in on LB. Piper Sandler cut their target price on LandBridge from $70.00 to $55.00 and set a "neutral" rating on the stock in a report on Friday, August 15th. Barclays dropped 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. Johnson Rice lowered LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. Raymond James Financial dropped 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. Finally, Wells Fargo & Company lifted their price objective on LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research note on Friday, May 16th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $62.29.

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.

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