Schwartz Investment Counsel Inc. Raises Stock Holdings in LandBridge Company LLC $LB

Schwartz Investment Counsel Inc. grew its stake in LandBridge Company LLC (NYSE:LB) by 1.6% during the 2nd quarter, Holdings Channel reports. The fund owned 519,668 shares of the company’s stock after acquiring an additional 8,400 shares during the period. Schwartz Investment Counsel Inc.’s holdings in LandBridge were worth $35,119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. First Manhattan CO. LLC. lifted its position in shares of 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 acquiring an additional 84,701 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of LandBridge by 5,290.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company’s stock valued at $85,845,000 after acquiring an additional 1,171,142 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of LandBridge by 17.1% in the first quarter. Vanguard Group Inc. now owns 697,748 shares of the company’s stock valued at $50,196,000 after acquiring an additional 102,085 shares in the last quarter. Raymond James Financial Inc. lifted its position in shares of LandBridge by 1.6% in the first quarter. Raymond James Financial Inc. now owns 329,123 shares of the company’s stock valued at $23,677,000 after acquiring an additional 5,155 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its position in shares of LandBridge by 14.8% in the second quarter. Annex Advisory Services LLC now owns 208,586 shares of the company’s stock valued at $14,096,000 after acquiring an additional 26,883 shares in the last quarter.

LandBridge Price Performance

Shares of NYSE LB opened at $55.88 on Tuesday. LandBridge Company LLC has a 1-year low of $48.55 and a 1-year high of $87.60. The business has a 50-day moving average of $53.23 and a 200-day moving average of $62.54. The company has a debt-to-equity ratio of 0.54, a current ratio of 4.26 and a quick ratio of 4.26. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 15.70 and a beta of 0.14.

LandBridge Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Stockholders of record on Thursday, September 4th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $0.40 annualized dividend and a dividend yield of 0.7%. LandBridge’s dividend payout ratio is presently 11.24%.

Wall Street Analyst Weigh In

LB has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on LandBridge from $93.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday. Weiss Ratings reiterated a “hold (c)” rating on shares of LandBridge in a research note on Tuesday, October 14th. Zacks Research lowered LandBridge from a “hold” rating to a “strong sell” rating in a research note on Friday, October 10th. Barclays dropped their target price on LandBridge from $66.00 to $57.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Finally, Raymond James Financial dropped their target price on LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, August 8th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $65.17.

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.