Vanguard Group Inc. Has $50.20 Million Stock Holdings in LandBridge Company LLC $LB

Key Points

• Vanguard Group Inc. increased its position in LandBridge Company LLC by 17.1% in the first quarter, holding 697,748 shares valued at approximately $50.2 million.
• LandBridge recently announced a quarterly dividend of $0.10 per share, leading to an annualized yield of 0.8%.
• Analysts have mixed views on LandBridge, with recent price targets ranging from $55 to $93, and the stock carries an average rating of "Hold."

Vanguard Group Inc. raised its stake in LandBridge Company LLC (NYSE:LB - Free Report) by 17.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 697,748 shares of the company's stock after purchasing an additional 102,085 shares during the period. Vanguard Group Inc. owned 0.95% of LandBridge worth $50,196,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. US Bancorp DE bought a new stake in shares of LandBridge in the 1st quarter worth about $28,000. Comerica Bank lifted its position in shares of LandBridge by 29.7% in the 4th quarter. Comerica Bank now owns 1,158 shares of the company's stock worth $75,000 after buying an additional 265 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in shares of LandBridge in the 1st quarter worth about $102,000. Barclays PLC bought a new position in shares of LandBridge in the 4th quarter worth about $180,000. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of LandBridge in the 4th quarter worth about $218,000.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on LB shares. Barclays reduced their price target on shares of LandBridge from $80.00 to $66.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Wells Fargo & Company raised their price target on shares of LandBridge from $82.00 to $93.00 and gave the stock an "overweight" rating in a research report on Friday, May 16th. Piper Sandler lowered their price target on shares of LandBridge from $70.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, August 15th. Johnson Rice lowered shares of LandBridge from a "buy" rating to an "accumulate" rating in a research report on Wednesday, May 21st. Finally, Raymond James Financial lowered their price target on shares of LandBridge from $85.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, August 8th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $62.29.

LandBridge Price Performance

LB traded up $0.58 on Friday, reaching $53.11. The company had a trading volume of 238,935 shares, compared to its average volume of 563,256. The company has a fifty day moving average of $57.71 and a 200-day moving average of $66.82. The company has a market capitalization of $4.07 billion, a P/E ratio of 14.92 and a beta of 0.32. 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 Company LLC has a one year low of $32.28 and a one year high of $87.60.

LandBridge Dividend Announcement

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