Schwartz Investment Counsel Inc. Boosts Stock Position in LandBridge Company LLC (NYSE:LB)

Schwartz Investment Counsel Inc. lifted its position in LandBridge Company LLC (NYSE:LB - Free Report) by 19.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 511,268 shares of the company's stock after buying an additional 84,700 shares during the quarter. Schwartz Investment Counsel Inc. owned approximately 0.70% of LandBridge worth $36,781,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Horizon Kinetics Asset Management LLC increased its holdings in LandBridge by 4.0% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 5,399,275 shares of the company's stock worth $348,793,000 after purchasing an additional 208,408 shares during the period. First Manhattan CO. LLC. increased its holdings in LandBridge by 23.5% during the 4th quarter. First Manhattan CO. LLC. now owns 2,713,506 shares of the company's stock worth $175,292,000 after purchasing an additional 516,380 shares during the period. Hood River Capital Management LLC purchased a new stake in LandBridge during the 4th quarter worth about $41,431,000. Vanguard Group Inc. purchased a new stake in LandBridge during the 4th quarter worth about $38,480,000. Finally, Raymond James Financial Inc. purchased a new stake in LandBridge during the 4th quarter worth about $20,928,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LB. The Goldman Sachs Group upped their price target on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Wells Fargo & Company increased 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. Johnson Rice downgraded LandBridge from a "buy" rating to an "accumulate" rating in a report on Wednesday, May 21st. Barclays increased their price objective on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a report on Friday, March 21st. Finally, Piper Sandler dropped their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.67.

LandBridge Trading Down 0.3%

NYSE:LB opened at $67.36 on Friday. The stock's 50 day moving average price is $73.69 and its 200 day moving average price is $70.13. The company has a market capitalization of $4.93 billion and a PE ratio of 18.92. 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 52-week low of $18.75 and a 52-week high of $87.60.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 19th. Investors of record on Thursday, June 5th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.59%. LandBridge's dividend payout ratio is presently 11.24%.

Insider Buying and Selling

In related news, Director David N. Capobianco sold 1,900,000 shares of the firm's 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 filing with the SEC, which is available at this link. 70.42% of the stock is currently owned by company insiders.

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.

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