Sprott Inc. Grows Position in LandBridge Company LLC $LB

Sprott Inc. lifted its holdings in shares of LandBridge Company LLC (NYSE:LB) by 13.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,363 shares of the company’s stock after purchasing an additional 9,054 shares during the quarter. Sprott Inc. owned 0.10% of LandBridge worth $3,967,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in shares of LandBridge by 8.7% in the 3rd quarter. Vanguard Group Inc. now owns 854,767 shares of the company’s stock worth $45,602,000 after buying an additional 68,343 shares during the last quarter. Hood River Capital Management LLC increased its stake in LandBridge by 4.4% in the second quarter. Hood River Capital Management LLC now owns 669,678 shares of the company’s stock valued at $45,257,000 after acquiring an additional 28,333 shares during the last quarter. Schwartz Investment Counsel Inc. raised its position in LandBridge by 11.6% during the third quarter. Schwartz Investment Counsel Inc. now owns 579,763 shares of the company’s stock valued at $30,930,000 after purchasing an additional 60,095 shares in the last quarter. Cortland Associates Inc. MO raised its position in LandBridge by 172.0% during the third quarter. Cortland Associates Inc. MO now owns 412,443 shares of the company’s stock valued at $22,004,000 after purchasing an additional 260,812 shares in the last quarter. Finally, Annex Advisory Services LLC lifted its stake in LandBridge by 29.8% during the third quarter. Annex Advisory Services LLC now owns 270,819 shares of the company’s stock worth $14,448,000 after purchasing an additional 62,233 shares during the last quarter.

LandBridge Stock Down 0.9%

Shares of NYSE LB opened at $73.85 on Tuesday. The firm’s fifty day moving average is $57.81 and its 200 day moving average is $57.08. LandBridge Company LLC has a 52 week low of $43.75 and a 52 week high of $87.60. The company has a quick ratio of 4.87, a current ratio of 4.87 and a debt-to-equity ratio of 0.70. The company has a market cap of $5.75 billion, a price-to-earnings ratio of 78.57 and a beta of 0.09.

LandBridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Stockholders of record on Thursday, March 5th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.6%. This is a positive change from LandBridge’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, March 5th. LandBridge’s payout ratio is currently 42.55%.

LandBridge announced that its Board of Directors has approved a stock buyback program on Wednesday, February 25th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on LB shares. Barclays increased their price objective on LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday. UBS Group reiterated a “neutral” rating and set a $65.00 price target on shares of LandBridge in a research report on Monday, November 24th. Raymond James Financial lowered shares of LandBridge from a “moderate buy” rating to a “strong sell” rating in a report on Friday, December 5th. Wells Fargo & Company reduced their target price on shares of LandBridge from $91.00 to $90.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Finally, Zacks Research downgraded shares of LandBridge from a “strong-buy” rating to a “strong sell” rating in a research note on Friday, January 23rd. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given 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 price target of $76.33.

Insider Transactions at LandBridge

In other news, insider Jason Thomas Long bought 2,143 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was bought at an average cost 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 in the company, valued at approximately $10,415,008.14. This trade represents a 0.97% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Harrison Fenner Bolling purchased 850 shares of LandBridge stock in a transaction that occurred on Monday, January 5th. The shares were acquired at an average price of $46.84 per share, for a total transaction of $39,814.00. Following the acquisition, the insider owned 66,874 shares in the company, valued at $3,132,378.16. This trade represents a 1.29% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have bought 3,542 shares of company stock valued at $164,630. 70.42% of the stock is currently owned by company insiders.

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.