Quantbot Technologies LP Sells 37,962 Shares of LandBridge Company LLC $LB

Quantbot Technologies LP decreased its holdings in LandBridge Company LLC (NYSE:LB) by 92.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,253 shares of the company’s stock after selling 37,962 shares during the period. Quantbot Technologies LP’s holdings in LandBridge were worth $174,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in LB. NewEdge Advisors LLC grew its holdings in shares of LandBridge by 110.6% in the second quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in LandBridge by 805.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,232 shares of the company’s stock valued at $67,000 after buying an additional 1,096 shares in the last quarter. Generali Investments Management Co LLC purchased a new stake in LandBridge in the 2nd quarter valued at about $117,000. Osaic Holdings Inc. boosted its position in LandBridge by 12.5% in the 2nd quarter. Osaic Holdings Inc. now owns 2,701 shares of the company’s stock valued at $183,000 after buying an additional 301 shares during the period. Finally, Geneos Wealth Management Inc. grew its stake in LandBridge by 9.4% in the 3rd quarter. Geneos Wealth Management Inc. now owns 3,880 shares of the company’s stock worth $207,000 after acquiring an additional 335 shares in the last quarter.

LandBridge Stock Performance

Shares of LB stock opened at $70.67 on Thursday. The business’s fifty day simple moving average is $60.77 and its 200-day simple moving average is $58.02. The company has a market cap of $5.50 billion, a PE ratio of 75.18 and a beta of 0.11. The company has a current ratio of 4.87, a quick ratio of 4.87 and a debt-to-equity ratio of 0.70. LandBridge Company LLC has a 12-month low of $43.75 and a 12-month high of $87.60.

LandBridge announced that its board has authorized a share buyback program on Wednesday, February 25th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the company to reacquire 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 shares are undervalued.

LandBridge Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 5th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.7%. 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 dividend payout ratio is presently 51.06%.

Insider Activity at LandBridge

In other news, insider Jason Thomas Long bought 2,143 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were purchased at an average price of $46.59 per share, for a total transaction of $99,842.37. Following the completion of the transaction, the insider directly owned 223,546 shares in the company, valued at approximately $10,415,008.14. This represents a 0.97% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles L. Watson sold 13,000 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $75.00, for a total transaction of $975,000.00. Following the completion of the transaction, the director owned 64,250 shares in the company, valued at approximately $4,818,750. This trade represents a 16.83% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have bought 3,542 shares of company stock worth $164,630 and have sold 53,350 shares worth $3,974,555. 70.42% of the stock is owned by insiders.

Analysts Set New Price Targets

LB has been the topic of a number of research reports. Zacks Research lowered shares of LandBridge from a “strong-buy” rating to a “strong sell” rating in a research report on Friday, January 23rd. Janney Montgomery Scott cut LandBridge from a “buy” rating to a “neutral” rating in a research note on Thursday, November 13th. Wells Fargo & Company dropped their price objective on LandBridge from $91.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Piper Sandler raised their price objective on LandBridge from $55.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, November 24th. Finally, Barclays lifted their target price on LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, LandBridge has a consensus rating of “Hold” and a consensus target price of $76.33.

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