Moors & Cabot Inc. Has $10.48 Million Stake in LandBridge Company LLC $LB

Moors & Cabot Inc. increased its stake in shares of LandBridge Company LLC (NYSE:LB) by 11.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 196,379 shares of the company’s stock after acquiring an additional 20,115 shares during the quarter. Moors & Cabot Inc.’s holdings in LandBridge were worth $10,477,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. NewEdge Advisors LLC increased its stake in shares of LandBridge by 110.6% in the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after buying an additional 209 shares during the period. Aquatic Capital Management LLC bought a new position in LandBridge in the third quarter valued at about $63,000. Jones Financial Companies Lllp increased its position in LandBridge by 805.9% in the third quarter. Jones Financial Companies Lllp now owns 1,232 shares of the company’s stock worth $67,000 after purchasing an additional 1,096 shares during the period. Comerica Bank raised its holdings in LandBridge by 13.6% during the 3rd quarter. Comerica Bank now owns 1,369 shares of the company’s stock worth $73,000 after purchasing an additional 164 shares during the last quarter. Finally, Generali Investments Management Co LLC bought a new stake in LandBridge during the 2nd quarter worth about $117,000.

Insider Activity

In other news, Director Charles L. Watson sold 30,680 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $74.07, for a total transaction of $2,272,467.60. Following the completion of the sale, the director owned 86,920 shares of the company’s stock, valued at $6,438,164.40. This represents a 26.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jason Thomas Long acquired 2,143 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were bought at an average price of $46.59 per share, for a total transaction of $99,842.37. Following the completion of the acquisition, the insider owned 223,546 shares of the company’s stock, valued at $10,415,008.14. This trade represents a 0.97% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last quarter, insiders purchased 3,542 shares of company stock worth $164,630 and sold 53,350 shares worth $3,974,555. Corporate insiders own 70.42% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LB. Zacks Research lowered shares of LandBridge from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. Raymond James Financial lowered shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a report on Friday, December 5th. UBS Group reaffirmed a “neutral” rating and issued a $65.00 price objective on shares of LandBridge in a research note on Monday, November 24th. Wells Fargo & Company lowered their target price on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research note on Friday, January 9th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $75.67.

LandBridge Trading Down 4.9%

NYSE LB opened at $71.15 on Tuesday. LandBridge Company LLC has a one year low of $43.75 and a one year high of $87.60. The company has a debt-to-equity ratio of 0.70, a current ratio of 4.87 and a quick ratio of 4.87. The firm has a market cap of $5.54 billion, a P/E ratio of 75.69 and a beta of 0.09. The stock’s 50-day moving average is $62.26 and its 200-day moving average is $58.49.

LandBridge announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 25th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the company to purchase up to 1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

LandBridge Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Shareholders of record on Thursday, March 5th will be issued a dividend of $0.12 per share. This is an increase from LandBridge’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, March 5th. This represents a $0.48 annualized dividend and a yield of 0.7%. LandBridge’s dividend payout ratio is 51.06%.

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. The company was founded in 2021 and is based in Houston, Texas. LandBridge Company LLC operates as a subsidiary of LandBridge Holdings LLC.