William Blair Investment Management LLC bought a new stake in LandBridge Company LLC (NYSE:LB – Free Report) during the 4th quarter, Holdings Channel reports. The firm bought 690,291 shares of the company’s stock, valued at approximately $33,817,000.
Other large investors have also recently made changes to their positions in the company. NewEdge Advisors LLC lifted its holdings in shares of LandBridge by 110.6% in the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after acquiring an additional 209 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of LandBridge in the 4th quarter worth approximately $51,000. Aquatic Capital Management LLC acquired a new position in shares of LandBridge in the 3rd quarter worth approximately $63,000. Jones Financial Companies Lllp lifted its holdings in shares of LandBridge by 805.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,232 shares of the company’s stock worth $67,000 after acquiring an additional 1,096 shares during the last quarter. Finally, Comerica Bank lifted its holdings in shares of LandBridge by 13.6% in the 3rd quarter. Comerica Bank now owns 1,369 shares of the company’s stock worth $73,000 after acquiring an additional 164 shares during the last quarter.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of LandBridge in a report on Wednesday, April 8th. Barclays upped their price objective on shares of LandBridge from $57.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Zacks Research lowered shares of LandBridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. The Goldman Sachs Group upped their price objective on shares of LandBridge from $69.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, March 13th. Finally, Wells Fargo & Company upped their price objective on shares of LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Wednesday, March 18th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, LandBridge presently has an average rating of “Hold” and an average target price of $76.17.
Insider Transactions at LandBridge
In other LandBridge news, Director Charles L. Watson sold 13,000 shares of the stock in a transaction that occurred on Friday, March 6th. The shares were sold at an average price of $75.00, for a total transaction of $975,000.00. Following the sale, the director directly owned 64,250 shares in the company, valued at $4,818,750. This represents a 16.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders have sold 53,350 shares of company stock worth $3,974,555. 70.42% of the stock is owned by corporate insiders.
LandBridge Price Performance
LandBridge stock opened at $78.64 on Monday. The firm has a market cap of $6.06 billion, a PE ratio of 81.07 and a beta of 0.14. LandBridge Company LLC has a 52-week low of $43.75 and a 52-week high of $85.60. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $69.80 and its two-hundred day moving average is $63.45.
LandBridge (NYSE:LB – Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.44). The business had revenue of $51.01 million for the quarter, compared to analyst estimates of $58.72 million. LandBridge had a return on equity of 4.34% and a net margin of 15.71%.LandBridge’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.37 earnings per share. On average, research analysts expect that LandBridge Company LLC will post 1.48 EPS for the current fiscal year.
LandBridge Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be issued a dividend of $0.12 per share. The ex-dividend date is Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a yield of 0.6%. LandBridge’s dividend payout ratio is 49.48%.
LandBridge announced that its board has initiated a share buyback program on Wednesday, February 25th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.
Read More
- Five stocks we like better than LandBridge
- The Smart Glasses Gold Rush Is Leaving Old-School Eyewear Behind
- 3 Rare Earth Stocks That Win No Matter What China Does Next
- Amylyx Stock: Why the Full Pipeline Story Matters
- Palantir and Dell Build an AI OS for the Paranoid
Want to see what other hedge funds are holding LB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LandBridge Company LLC (NYSE:LB – Free Report).
Receive News & Ratings for LandBridge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LandBridge and related companies with MarketBeat.com's FREE daily email newsletter.
