LandBridge Co LLC (NYSE:LB) Shares Bought by First Manhattan CO. LLC.

First Manhattan CO. LLC. grew its stake in LandBridge Co LLC (NYSE:LB - Free Report) by 23.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,713,506 shares of the company's stock after acquiring an additional 516,380 shares during the quarter. First Manhattan CO. LLC. owned about 3.71% of LandBridge worth $175,292,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Legal & General Group Plc purchased a new position in LandBridge during the 4th quarter worth $689,000. Tocqueville Asset Management L.P. grew its stake in LandBridge by 7.6% during the 4th quarter. Tocqueville Asset Management L.P. now owns 88,190 shares of the company's stock worth $5,697,000 after buying an additional 6,240 shares during the last quarter. Schwartz Investment Counsel Inc. grew its stake in LandBridge by 1.0% during the 4th quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company's stock worth $27,556,000 after buying an additional 4,400 shares during the last quarter. Atlas Wealth Partners LLC purchased a new position in LandBridge during the 4th quarter worth $443,000. Finally, Stratos Wealth Partners LTD. purchased a new position in LandBridge during the 4th quarter worth $234,000.

Wall Street Analysts Forecast Growth

LB has been the subject of a number of research reports. The Goldman Sachs Group lifted their price target on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a research report on Wednesday, March 26th. Barclays lifted their price target on LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a research report on Friday, March 21st. Piper Sandler lowered their price target on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Wells Fargo & Company set a $82.00 price target on LandBridge and gave the stock an "overweight" rating in a research report on Friday, March 7th. Finally, Raymond James lifted their price target on LandBridge from $80.00 to $85.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $59.44.

LandBridge Stock Performance

Shares of LB stock traded up $0.93 on Friday, hitting $70.05. The company had a trading volume of 476,863 shares, compared to its average volume of 501,129. The firm has a market cap of $5.12 billion and a P/E ratio of 19.68. The company has a 50-day moving average price of $70.67 and a 200-day moving average price of $68.34. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.40 annualized dividend and a dividend yield of 0.57%. LandBridge's dividend payout ratio (DPR) is presently 11.24%.

About LandBridge

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.