Raymond James Financial Inc. purchased a new position in LandBridge Co LLC (NYSE:LB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 323,969 shares of the company's stock, valued at approximately $20,928,000. Raymond James Financial Inc. owned approximately 0.44% of LandBridge as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Horizon Kinetics Asset Management LLC grew its stake in shares of LandBridge by 10.3% in the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company's stock worth $203,067,000 after purchasing an additional 484,968 shares in the last quarter. FMR LLC lifted its holdings in shares of LandBridge by 40.5% in the third quarter. FMR LLC now owns 2,378,121 shares of the company's stock valued at $93,032,000 after buying an additional 686,070 shares during the period. Schwartz Investment Counsel Inc. lifted its holdings in shares of LandBridge by 1.0% in the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company's stock valued at $27,556,000 after buying an additional 4,400 shares during the period. Boston Financial Mangement LLC acquired a new stake in shares of LandBridge in the fourth quarter valued at $15,276,000. Finally, Mad River Investors lifted its holdings in shares of LandBridge by 0.4% in the fourth quarter. Mad River Investors now owns 233,452 shares of the company's stock valued at $15,081,000 after buying an additional 902 shares during the period.
Wall Street Analysts Forecast Growth
LB has been the subject of several research analyst reports. Piper Sandler cut their price objective on LandBridge from $79.00 to $70.00 and set a "neutral" rating for the company in a report on Friday, March 7th. The Goldman Sachs Group restated a "buy" rating and issued a $71.00 price objective on shares of LandBridge in a report on Friday, January 3rd. Raymond James upped their price objective on LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a report on Tuesday, January 28th. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the company an "overweight" rating in a report on Friday, March 7th. Finally, Barclays lifted their price target on LandBridge from $38.00 to $79.00 and gave the stock an "equal weight" rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $57.44.
Check Out Our Latest Research Report on LandBridge
LandBridge Trading Down 0.8 %
LandBridge stock traded down $0.61 during midday trading on Thursday, reaching $79.59. The stock had a trading volume of 758,626 shares, compared to its average volume of 488,232. The firm's fifty day simple moving average is $69.62 and its two-hundred day simple moving average is $60.55. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.73 and a quick ratio of 0.73. The firm has a market cap of $5.82 billion and a price-to-earnings ratio of 22.36.
LandBridge Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date is Thursday, March 6th. LandBridge's dividend payout ratio is 11.24%.
About LandBridge
(
Free Report)
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.
Further Reading
Before you consider LandBridge, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and LandBridge wasn't on the list.
While LandBridge currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
