Schwartz Investment Counsel Inc. Acquires 84,700 Shares of LandBridge Company LLC (NYSE:LB)

Schwartz Investment Counsel Inc. boosted its position in LandBridge Company LLC (NYSE:LB - Free Report) by 19.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 511,268 shares of the company's stock after acquiring an additional 84,700 shares during the quarter. Schwartz Investment Counsel Inc. owned 0.70% of LandBridge worth $36,781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in LB. Comerica Bank boosted its stake in shares of LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock valued at $75,000 after purchasing an additional 265 shares in the last quarter. Fairway Wealth LLC purchased a new position in LandBridge in the 4th quarter worth $50,000. Generali Investments Management Co LLC purchased a new position in LandBridge in the 4th quarter worth $52,000. Mad River Investors lifted its stake in LandBridge by 0.3% in the first quarter. Mad River Investors now owns 234,253 shares of the company's stock worth $16,852,000 after purchasing an additional 801 shares during the last quarter. Finally, Canton Hathaway LLC boosted its position in LandBridge by 25.2% during the first quarter. Canton Hathaway LLC now owns 4,081 shares of the company's stock valued at $294,000 after buying an additional 821 shares during the period.

Insider Activity

In related news, Director David N. Capobianco sold 1,900,000 shares of LandBridge stock in a transaction that occurred on Friday, May 23rd. The stock was 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 link. Corporate insiders own 70.42% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on LB shares. Johnson Rice lowered LandBridge from a "buy" rating to an "accumulate" rating in a research note on Wednesday, May 21st. The Goldman Sachs Group boosted their price objective on LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a research report on Wednesday, March 26th. Piper Sandler cut their target price on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Wells Fargo & Company upped their price target on shares of LandBridge from $82.00 to $93.00 and gave the company an "overweight" rating in a report on Friday, May 16th. Finally, Barclays increased their price target on shares of LandBridge from $79.00 to $80.00 and gave the company 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's stock. According to MarketBeat, LandBridge presently has a consensus rating of "Moderate Buy" and an average target price of $60.67.

LandBridge Trading Down 1.8%

Shares of NYSE:LB traded down $1.19 on Tuesday, hitting $66.40. The company had a trading volume of 549,225 shares, compared to its average volume of 480,389. The firm's 50-day simple moving average is $73.73 and its two-hundred day simple moving average is $70.31. The firm has a market capitalization of $4.86 billion and a price-to-earnings ratio of 18.65. The company has a quick ratio of 3.70, a current ratio of 3.70 and a debt-to-equity ratio of 0.60. LandBridge Company LLC has a 1 year low of $21.00 and a 1 year high of $87.60.

LandBridge Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend was Thursday, June 5th. LandBridge's dividend payout ratio is currently 11.24%.

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.