LandBridge Company LLC $LB Shares Purchased by Ipswich Investment Management Co. Inc.

Ipswich Investment Management Co. Inc. boosted its position in shares of LandBridge Company LLC (NYSE:LB) by 62.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,092 shares of the company’s stock after acquiring an additional 13,825 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in LandBridge were worth $1,926,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Amundi purchased a new stake in shares of LandBridge in the 1st quarter valued at about $5,763,000. Kingswood Wealth Advisors LLC grew its stake in LandBridge by 50.9% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 44,891 shares of the company’s stock worth $3,034,000 after buying an additional 15,136 shares during the last quarter. Vanguard Group Inc. increased its position in LandBridge by 17.1% during the first quarter. Vanguard Group Inc. now owns 697,748 shares of the company’s stock worth $50,196,000 after buying an additional 102,085 shares during the period. First Manhattan CO. LLC. lifted its stake in LandBridge by 3.1% in the first quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company’s stock valued at $201,303,000 after buying an additional 84,701 shares during the last quarter. Finally, LPL Financial LLC boosted its holdings in shares of LandBridge by 69.7% in the first quarter. LPL Financial LLC now owns 17,829 shares of the company’s stock valued at $1,283,000 after acquiring an additional 7,320 shares during the period.

LandBridge Stock Performance

Shares of LB stock opened at $52.93 on Thursday. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $59.50 and a 200-day simple moving average of $59.00. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 75.62 and a beta of 0.25. LandBridge Company LLC has a 12-month low of $48.55 and a 12-month high of $87.60.

LandBridge (NYSE:LB) last announced its quarterly earnings data on Wednesday, November 12th. The company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.44). The business had revenue of $50.83 million for the quarter, compared to analyst estimates of $49.13 million. LandBridge had a return on equity of 4.63% and a net margin of 13.72%. On average, equities analysts forecast that LandBridge Company LLC will post 0.99 EPS for the current year.

LandBridge Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, December 4th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, December 4th. LandBridge’s dividend payout ratio (DPR) is currently 57.14%.

Insider Activity

In related news, Director Point Energy Fund Aiv- Five II sold 2,500,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $70.00, for a total value of $175,000,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 70.42% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a research note on Tuesday, October 14th. Zacks Research upgraded shares of LandBridge from a “strong sell” rating to a “hold” rating in a research note on Monday, November 10th. Wells Fargo & Company lowered their price target on LandBridge from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Piper Sandler upped their price objective on LandBridge from $55.00 to $65.00 and gave the company a “neutral” rating in a research note on Monday, November 24th. Finally, Raymond James Financial cut LandBridge from a “moderate buy” rating to a “strong sell” rating in a research report on Friday, December 5th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, LandBridge currently has a consensus rating of “Hold” and an average price target of $73.33.

LandBridge Company 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.