Baird Financial Group Inc. Invests $1.24 Million in LandBridge Co LLC (NYSE:LB)

Baird Financial Group Inc. acquired a new position in shares of LandBridge Co LLC (NYSE:LB) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 19,175 shares of the company’s stock, valued at approximately $1,239,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE grew its stake in shares of LandBridge by 12,067.2% during the 4th quarter. Bank of America Corp DE now owns 32,243 shares of the company’s stock worth $2,083,000 after purchasing an additional 31,978 shares during the period. Jane Street Group LLC purchased a new position in shares of LandBridge during the 4th quarter valued at approximately $4,378,000. Monashee Investment Management LLC purchased a new position in shares of LandBridge during the 4th quarter valued at approximately $8,071,000. Comerica Bank lifted its position in shares of LandBridge by 29.7% during the 4th quarter. Comerica Bank now owns 1,158 shares of the company’s stock valued at $75,000 after buying an additional 265 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in shares of LandBridge during the 4th quarter valued at approximately $2,314,000.

LandBridge Trading Up 8.4%

Shares of LB stock opened at $78.99 on Wednesday. The stock’s fifty day moving average is $71.18 and its two-hundred day moving average is $68.56. 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 firm has a market capitalization of $5.78 billion and a P/E ratio of 22.19. LandBridge Co LLC has a fifty-two week low of $18.75 and a fifty-two week high of $84.70.

LandBridge Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 19th. Shareholders of record on Thursday, June 5th will be issued a $0.10 dividend. The ex-dividend date is Thursday, June 5th. This represents a $0.40 dividend on an annualized basis and a yield of 0.51%. LandBridge’s payout ratio is currently 11.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on LB. Piper Sandler decreased their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Raymond James increased their target price on LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group increased their target price on LandBridge from $73.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, March 26th. Barclays increased their target price on LandBridge from $79.00 to $80.00 and gave the company an “equal weight” rating in a research report on Friday, March 21st. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, LandBridge presently has a consensus 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.