Turtle Creek Wealth Advisors LLC Buys New Shares in LandBridge Company LLC $LB

Key Points

• Turtle Creek Wealth Advisors LLC purchased a new stake in LandBridge Company LLC, acquiring 5,000 shares valued at approximately $338,000 in the 2nd quarter.
• Several large investors, including T. Rowe Price and Vanguard Group, have significantly increased their holdings in LandBridge, indicating growing interest in the stock.
• LandBridge recently announced a quarterly dividend of $0.10 per share, with an annualized dividend yield of 0.7%, while facing mixed analyst ratings and a consensus price target of $65.50.

Turtle Creek Wealth Advisors LLC bought a new stake in LandBridge Company LLC (NYSE:LB - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 5,000 shares of the company's stock, valued at approximately $338,000.

Several other large investors have also made changes to their positions in LB. T. Rowe Price Investment Management Inc. raised its position in shares of LandBridge by 5,290.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company's stock worth $85,845,000 after buying an additional 1,171,142 shares during the period. HITE Hedge Asset Management LLC purchased a new position in shares of LandBridge in the 1st quarter worth $9,441,000. Vanguard Group Inc. raised 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 buying an additional 102,085 shares during the period. Amundi purchased a new position in shares of LandBridge in the 1st quarter worth $5,763,000. Finally, First Manhattan CO. LLC. raised its position in shares of LandBridge by 3.1% in the 1st quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company's stock worth $201,303,000 after buying an additional 84,701 shares during the period.

LandBridge Trading Up 0.6%

NYSE:LB opened at $53.47 on Friday. The business's 50-day moving average is $53.09 and its two-hundred day moving average is $62.80. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26. LandBridge Company LLC has a 12 month low of $48.55 and a 12 month high of $87.60. The firm has a market capitalization of $4.09 billion, a PE ratio of 15.02 and a beta of 0.14.

LandBridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. LandBridge's dividend payout ratio (DPR) is currently 11.24%.

Wall Street Analysts Forecast Growth

LB has been the topic of several research reports. Zacks Research lowered LandBridge from a "hold" rating to a "strong sell" rating in a research report on Friday, October 10th. Piper Sandler cut their target price on LandBridge from $70.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, August 15th. Weiss Ratings reissued a "hold (c)" rating on shares of LandBridge in a research report on Tuesday. Raymond James Financial cut their price objective on LandBridge from $85.00 to $75.00 and set an "outperform" rating on the stock in a research report on Friday, August 8th. Finally, Barclays cut their price objective on LandBridge from $66.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, LandBridge has a consensus rating of "Hold" and an average target price of $65.50.

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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