Raymond James Financial Inc. Buys New Shares in LandBridge Co LLC (NYSE:LB)

Raymond James Financial Inc. acquired a new stake in shares of LandBridge Co LLC (NYSE:LB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 323,969 shares of the company’s stock, valued at approximately $20,928,000.

Several other institutional investors have also recently made changes to their positions in the stock. Horizon Kinetics Asset Management LLC raised its holdings in shares of LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after purchasing an additional 484,968 shares during the period. FMR LLC raised its holdings in shares of LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock valued at $93,032,000 after purchasing an additional 686,070 shares during the period. Schwartz Investment Counsel Inc. raised its holdings in shares of 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 during the period. Boston Financial Mangement LLC acquired a new position in shares of LandBridge during the fourth quarter valued at about $15,276,000. Finally, Mad River Investors raised its holdings in shares of LandBridge by 0.4% during the fourth quarter. Mad River Investors now owns 233,452 shares of the company’s stock valued at $15,081,000 after purchasing an additional 902 shares during the period.

LandBridge Trading Up 7.4 %

Shares of LB stock opened at $72.45 on Monday. LandBridge Co LLC has a 52-week low of $18.75 and a 52-week high of $84.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The company has a 50-day simple moving average of $69.62 and a two-hundred day simple moving average of $60.04. The company has a market capitalization of $5.30 billion and a price-to-earnings ratio of 20.35.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.55%. The ex-dividend date is Thursday, March 6th. LandBridge’s payout ratio is 11.24%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LB. Raymond James upped their price objective on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Piper Sandler decreased their target price on shares of 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 target price on shares of LandBridge and gave the stock an “overweight” rating in a research report on Friday, March 7th. Barclays boosted their target price on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Friday, January 17th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $71.00 target price on shares of LandBridge in a research report on Friday, January 3rd. One investment 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. Based on data from MarketBeat, LandBridge presently has an average rating of “Moderate Buy” and an average price target of $57.44.

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.