Moors & Cabot Inc. Purchases 9,738 Shares of LandBridge Company LLC $LB

Moors & Cabot Inc. boosted its holdings in LandBridge Company LLC (NYSE:LB) by 5.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 206,117 shares of the company’s stock after acquiring an additional 9,738 shares during the quarter. Moors & Cabot Inc. owned 0.26% of LandBridge worth $10,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. NewEdge Advisors LLC lifted its stake in LandBridge by 110.6% during the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after acquiring an additional 209 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in LandBridge in the fourth quarter worth approximately $51,000. Aquatic Capital Management LLC purchased a new stake in LandBridge during the 3rd quarter valued at $63,000. Jones Financial Companies Lllp grew its holdings in shares of 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 acquiring an additional 1,096 shares during the period. Finally, Comerica Bank increased its position in LandBridge by 13.6% during the third quarter. Comerica Bank now owns 1,369 shares of the company’s stock valued at $73,000 after acquiring an additional 164 shares during the last quarter.

Insider Activity at LandBridge

In related news, Director Charles L. Watson sold 30,680 shares of the company’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $74.07, for a total value of $2,272,467.60. Following the completion of the sale, the director directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 53,350 shares of company stock worth $3,974,555 in the last 90 days. Company insiders own 70.42% of the company’s stock.

LandBridge Trading Up 4.0%

LB stock opened at $75.13 on Friday. The firm has a fifty day moving average price of $69.87 and a 200 day moving average price of $63.76. LandBridge Company LLC has a fifty-two week low of $43.75 and a fifty-two week high of $85.60. The firm has a market cap of $5.79 billion, a PE ratio of 77.46 and a beta of 0.14. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.15 and a current ratio of 3.15.

LandBridge (NYSE:LB) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.44). LandBridge had a net margin of 15.71% and a return on equity of 4.34%. The business had revenue of $51.01 million during the quarter, compared to the consensus estimate of $58.72 million. During the same period in the previous year, the business posted $0.37 EPS. The firm’s revenue was up 16.0% on a year-over-year basis. Sell-side analysts anticipate that LandBridge Company LLC will post 1.48 earnings per share for the current fiscal year.

LandBridge announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 25th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Investors of record on Thursday, June 4th will be issued a $0.12 dividend. The ex-dividend date is Thursday, June 4th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.6%. LandBridge’s payout ratio is presently 49.48%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on LB shares. Zacks Research cut shares of LandBridge from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Barclays boosted their price target on LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a research note on Wednesday, April 8th. Piper Sandler reissued a “neutral” rating and issued a $66.00 target price (up from $65.00) on shares of LandBridge in a report on Friday, May 8th. Finally, Wells Fargo & Company raised their target price on shares of LandBridge from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 18th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $76.17.

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.