Kingswood Wealth Advisors LLC Purchases 15,136 Shares of LandBridge Company LLC $LB

Kingswood Wealth Advisors LLC boosted its holdings in shares of LandBridge Company LLC (NYSE:LB) by 50.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 44,891 shares of the company’s stock after purchasing an additional 15,136 shares during the period. Kingswood Wealth Advisors LLC’s holdings in LandBridge were worth $3,034,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. increased its stake in shares of LandBridge by 5,290.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,193,279 shares of the company’s stock worth $85,845,000 after purchasing an additional 1,171,142 shares during the last quarter. HITE Hedge Asset Management LLC bought a new stake in LandBridge in the first quarter worth $9,441,000. Vanguard Group Inc. increased its position in LandBridge by 17.1% during the first quarter. Vanguard Group Inc. now owns 697,748 shares of the company’s stock worth $50,196,000 after buying an additional 102,085 shares during the last quarter. Amundi acquired a new position in LandBridge during the first quarter worth $5,763,000. Finally, First Manhattan CO. LLC. lifted its position in shares of LandBridge by 3.1% in the first quarter. First Manhattan CO. LLC. now owns 2,798,207 shares of the company’s stock worth $201,303,000 after buying an additional 84,701 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays cut their price objective on LandBridge from $80.00 to $66.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of LandBridge in a research report on Saturday, September 27th. Raymond James Financial decreased their price objective on shares of LandBridge from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, August 8th. Finally, Piper Sandler lowered their target price on shares of LandBridge from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 15th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $67.00.

LandBridge Price Performance

Shares of LB stock opened at $57.13 on Tuesday. LandBridge Company LLC has a 12 month low of $43.79 and a 12 month high of $87.60. The company has a market capitalization of $4.37 billion, a P/E ratio of 16.05 and a beta of 0.14. The stock has a 50 day moving average of $53.78 and a two-hundred day moving average of $63.93. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.54.

LandBridge Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were paid a dividend of $0.10 per share. The ex-dividend date was Thursday, September 4th. This represents a $0.40 dividend on an annualized basis and a yield of 0.7%. LandBridge’s payout ratio is currently 11.24%.

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.