Blue Trust Inc. Acquires Shares of 1,710 LandBridge Co LLC (NYSE:LB)

Blue Trust Inc. acquired a new stake in shares of LandBridge Co LLC (NYSE:LB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,710 shares of the company’s stock, valued at approximately $110,000.

Other institutional investors also recently modified their holdings of the company. FMR LLC raised its position in LandBridge by 40.5% in the 3rd quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after purchasing an additional 686,070 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its position in shares of LandBridge by 10.3% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock valued at $203,067,000 after acquiring an additional 484,968 shares during the last quarter. Cortland Associates Inc. MO bought a new stake in shares of LandBridge during the 4th quarter valued at $9,727,000. Moors & Cabot Inc. acquired a new position in shares of LandBridge in the 3rd quarter valued at $4,302,000. Finally, HighTower Advisors LLC grew its holdings in shares of LandBridge by 370.2% in the 3rd quarter. HighTower Advisors LLC now owns 68,649 shares of the company’s stock valued at $2,688,000 after buying an additional 54,048 shares during the period.

LandBridge Trading Down 9.3 %

Shares of NYSE:LB opened at $65.70 on Friday. The company’s 50 day moving average price is $68.19 and its two-hundred day moving average price is $56.68. LandBridge Co LLC has a 12-month low of $18.75 and a 12-month high of $84.70. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73.

LandBridge Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Thursday, March 6th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.61%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LB. Raymond James boosted their price target on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, January 28th. Royal Bank of Canada restated an “underperform” rating and set a $25.00 price objective on shares of LandBridge in a research note on Tuesday, December 10th. Barclays increased their price objective on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Friday, January 17th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $71.00 target price on shares of LandBridge in a report on Friday, January 3rd. Finally, Piper Sandler upped their target price on shares of LandBridge from $39.00 to $79.00 and gave the company a “neutral” rating in a report on Monday, November 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $53.33.

About LandBridge

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.