LandBridge Company LLC $LB Stock Bought by Schwartz Investment Counsel Inc.

Schwartz Investment Counsel Inc. grew its holdings in LandBridge Company LLC (NYSE:LB) by 31.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 844,263 shares of the company’s stock after purchasing an additional 199,547 shares during the period. LandBridge comprises 2.4% of Schwartz Investment Counsel Inc.’s portfolio, making the stock its 12th largest holding. Schwartz Investment Counsel Inc.’s holdings in LandBridge were worth $68,529,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Mad River Investors lifted its position in shares of LandBridge by 1.3% in the first quarter. Mad River Investors now owns 266,385 shares of the company’s stock worth $18,394,000 after purchasing an additional 3,451 shares in the last quarter. Ashford Capital Management Inc. acquired a new position in LandBridge in the 1st quarter valued at approximately $17,162,000. Sei Investments Co. increased its stake in LandBridge by 100.0% in the 1st quarter. Sei Investments Co. now owns 134,720 shares of the company’s stock valued at $9,302,000 after buying an additional 67,360 shares during the period. Bank of America Corp DE increased its stake in LandBridge by 996.1% in the 1st quarter. Bank of America Corp DE now owns 64,933 shares of the company’s stock valued at $4,484,000 after buying an additional 59,009 shares during the period. Finally, Swiss National Bank increased its stake in LandBridge by 47.1% in the 1st quarter. Swiss National Bank now owns 55,000 shares of the company’s stock valued at $3,798,000 after buying an additional 17,600 shares during the period.

LandBridge Stock Down 0.6%

LB opened at $79.12 on Wednesday. LandBridge Company LLC has a fifty-two week low of $43.75 and a fifty-two week high of $91.69. The business has a 50-day moving average of $84.38 and a 200-day moving average of $72.91.

LandBridge Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Thursday, August 27th were paid a $0.12 dividend. The ex-dividend date of this dividend was Thursday, August 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.6%.

Wall Street Analyst Weigh In

LB has been the subject of a number of research analyst reports. Raymond James Financial reiterated an “outperform” rating and issued a $91.00 target price on shares of LandBridge in a research report on Monday, October 19th. Citigroup boosted their price target on shares of LandBridge from $66.00 to $86.00 and gave the company a “neutral” rating in a report on Wednesday, August 26th. Piper Sandler upped their price target on shares of LandBridge from $80.00 to $88.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Weiss Ratings raised shares of LandBridge from a “hold (c+)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Finally, Zacks Research lowered LandBridge from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 13th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $83.00.

LandBridge Profile

LandBridge Company (NYSE: LB) is a landowner and infrastructure-focused real estate company serving the energy and industrial sectors. The company owns and manages large tracts of land in the Permian Basin, primarily in West Texas and southeastern New Mexico, one of the leading oil and natural gas producing regions in the United States.

LandBridge generates revenue by providing access to its properties and related resources. Its activities include surface-use agreements, easements, rights-of-way, water services, mineral and royalty interests, and accommodations for energy, logistics, and infrastructure projects.