Raymond James Financial Inc. Takes $20.93 Million Position in LandBridge Co LLC (NYSE:LB)

Raymond James Financial Inc. acquired a new position in LandBridge Co LLC (NYSE:LB - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The fund acquired 323,969 shares of the company's stock, valued at approximately $20,928,000. Raymond James Financial Inc. owned approximately 0.44% of LandBridge at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LB. Fairway Wealth LLC bought a new stake in shares of LandBridge in the 4th quarter worth about $50,000. Generali Investments Management Co LLC acquired a new stake in shares of LandBridge during the fourth quarter worth $52,000. KBC Group NV bought a new position in shares of LandBridge in the 4th quarter worth about $72,000. Blue Trust Inc. acquired a new position in shares of LandBridge in the 4th quarter valued at about $110,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of LandBridge during the 4th quarter valued at about $181,000.

LandBridge Price Performance

Shares of NYSE LB traded down $3.77 during midday trading on Monday, reaching $65.28. The company's stock had a trading volume of 295,996 shares, compared to its average volume of 509,485. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The company has a market cap of $4.78 billion and a price-to-earnings ratio of 18.34. LandBridge Co LLC has a one year low of $18.75 and a one year high of $84.70. The company has a 50 day moving average price of $69.03 and a 200 day moving average price of $66.10.

LandBridge Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Thursday, March 6th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date was Thursday, March 6th. LandBridge's payout ratio is 11.24%.

Wall Street Analyst Weigh In

Several research firms have recently commented on LB. The Goldman Sachs Group upped their target price on LandBridge from $73.00 to $88.00 and gave the company a "buy" rating in a report on Wednesday, March 26th. Piper Sandler reduced their price target on shares of LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, March 7th. Barclays increased their price objective on shares of LandBridge from $79.00 to $80.00 and gave the stock an "equal weight" rating in a report on Friday, March 21st. Wells Fargo & Company set a $82.00 price target on shares of LandBridge and gave the company an "overweight" rating in a research note on Friday, March 7th. Finally, Raymond James lifted their target price on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $59.44.

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.