Vanguard Group Inc. Invests $38.48 Million in LandBridge Co LLC (NYSE:LB)

Vanguard Group Inc. acquired a new stake in LandBridge Co LLC (NYSE:LB - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 595,663 shares of the company's stock, valued at approximately $38,480,000. Vanguard Group Inc. owned 0.81% of LandBridge as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Tocqueville Asset Management L.P. increased its holdings in LandBridge by 7.6% in the 4th quarter. Tocqueville Asset Management L.P. now owns 88,190 shares of the company's stock valued at $5,697,000 after buying an additional 6,240 shares during the period. Schwartz Investment Counsel Inc. raised its position in LandBridge by 1.0% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company's stock valued at $27,556,000 after purchasing an additional 4,400 shares in the last quarter. Atlas Wealth Partners LLC bought a new stake in LandBridge during the fourth quarter worth $443,000. Stratos Wealth Partners LTD. acquired a new stake in shares of LandBridge in the 4th quarter valued at $234,000. Finally, Ipswich Investment Management Co. Inc. acquired a new position in shares of LandBridge during the 4th quarter worth $1,018,000.

LandBridge Trading Up 2.1 %

LB traded up $1.45 during trading on Friday, hitting $69.10. The company's stock had a trading volume of 276,637 shares, compared to its average volume of 510,542. The firm has a market capitalization of $5.05 billion and a P/E ratio of 19.41. LandBridge Co LLC has a twelve month low of $18.75 and a twelve month high of $84.70. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock's fifty day moving average price is $69.16 and its 200-day moving average price is $65.48.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Thursday, March 6th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, March 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.58%. LandBridge's dividend payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company set a $82.00 target price on LandBridge and gave the company an "overweight" rating in a research report on Friday, March 7th. The Goldman Sachs Group upped their target price on LandBridge from $73.00 to $88.00 and gave the stock a "buy" rating in a report on Wednesday, March 26th. Barclays lifted their price target on LandBridge from $79.00 to $80.00 and gave the company an "equal weight" rating in a research note on Friday, March 21st. Piper Sandler dropped their price objective 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. Finally, Raymond James upped their price target on shares of LandBridge from $80.00 to $85.00 and gave the company an "outperform" rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $59.44.

LandBridge 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.