Heights Capital Management Inc. Makes New Investment in LandBridge Co LLC (NYSE:LB)

Heights Capital Management Inc. acquired a new stake in LandBridge Co LLC (NYSE:LB) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 166,583 shares of the company’s stock, valued at approximately $10,761,000. LandBridge accounts for 5.4% of Heights Capital Management Inc.’s holdings, making the stock its 4th largest holding. Heights Capital Management Inc. owned approximately 0.23% of LandBridge as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Fairway Wealth LLC acquired a new stake in shares of LandBridge during the fourth quarter worth $50,000. Generali Investments Management Co LLC acquired a new position in shares of LandBridge in the 4th quarter valued at $52,000. Mad River Investors increased 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 worth $15,081,000 after acquiring an additional 902 shares in the last quarter. KBC Group NV bought a new position in shares of LandBridge during the 4th quarter valued at about $72,000. Finally, Blue Trust Inc. acquired a new stake in LandBridge during the 4th quarter worth approximately $110,000.

LandBridge Stock Performance

NYSE LB opened at $69.10 on Monday. The firm’s 50 day simple moving average is $69.12 and its 200 day simple moving average is $65.96. The firm has a market capitalization of $5.05 billion and a price-to-earnings ratio of 19.41. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. LandBridge Co LLC has a 1 year low of $18.75 and a 1 year high of $84.70.

LandBridge Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Shareholders 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 0.58%. The ex-dividend date of this dividend was Thursday, March 6th. LandBridge’s dividend payout ratio is presently 11.24%.

Analyst Ratings Changes

LB has been the subject of a number of recent research reports. The Goldman Sachs Group upped their price target on LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 26th. Barclays upped their price objective on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research note on Friday, March 21st. Raymond James lifted their price objective on shares of LandBridge from $80.00 to $85.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 28th. 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, 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 research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price 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.