Quantbot Technologies LP Lowers Holdings in LandBridge Company LLC $LB

Quantbot Technologies LP reduced its stake in shares of LandBridge Company LLC (NYSE:LB) by 92.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,253 shares of the company’s stock after selling 37,962 shares during the quarter. Quantbot Technologies LP’s holdings in LandBridge were worth $174,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. NewEdge Advisors LLC lifted its holdings in shares of LandBridge by 110.6% in the 2nd quarter. NewEdge Advisors LLC now owns 398 shares of the company’s stock valued at $27,000 after buying an additional 209 shares during the period. Jones Financial Companies Lllp grew its holdings in LandBridge by 805.9% during 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. Generali Investments Management Co LLC acquired a new stake in LandBridge during the second quarter worth about $117,000. Osaic Holdings Inc. raised its position in LandBridge by 12.5% during the second quarter. Osaic Holdings Inc. now owns 2,701 shares of the company’s stock valued at $183,000 after acquiring an additional 301 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in LandBridge during the second quarter valued at approximately $218,000.

LandBridge Stock Down 0.1%

LB stock opened at $70.67 on Thursday. 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 firm has a 50-day simple moving average of $60.77 and a 200-day simple moving average of $58.02. The stock has a market capitalization of $5.50 billion, a P/E ratio of 75.18 and a beta of 0.11.

LandBridge Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 19th. Investors of record on Thursday, March 5th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, March 5th. This is a positive change from LandBridge’s previous quarterly dividend of $0.10. LandBridge’s payout ratio is presently 51.06%.

LandBridge declared that its Board of Directors has authorized a share repurchase plan on Wednesday, February 25th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have commented on LB. Raymond James Financial lowered LandBridge from a “moderate buy” rating to a “strong sell” rating in a research report on Friday, December 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a report on Friday, January 9th. Barclays boosted their target price on shares of LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, February 27th. Wells Fargo & Company lowered their price target 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, Janney Montgomery Scott lowered shares of LandBridge from a “buy” rating to a “neutral” rating in a research report on Thursday, November 13th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $76.33.

Insiders Place Their Bets

In other news, insider Jason Thomas Long bought 2,143 shares of the firm’s stock in a transaction dated Monday, January 5th. The shares were acquired 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 $10,415,008.14. The trade was a 0.97% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles L. Watson sold 13,000 shares of LandBridge stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $75.00, for a total value of $975,000.00. Following the completion of the sale, the director directly owned 64,250 shares in the company, valued at $4,818,750. This represents a 16.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders bought 3,542 shares of company stock worth $164,630 and sold 53,350 shares worth $3,974,555. 70.42% of the stock is owned by company insiders.

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