Northern Trust Corp Takes $273,000 Position in LandBridge Co LLC (NYSE:LB)

Northern Trust Corp acquired a new stake in shares of LandBridge Co LLC (NYSE:LB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,231 shares of the company’s stock, valued at approximately $273,000.

Other hedge funds have also recently modified their holdings of the company. Fairway Wealth LLC purchased a new stake in LandBridge in the fourth quarter valued at approximately $50,000. Generali Investments Management Co LLC purchased a new stake in LandBridge in the fourth quarter valued at approximately $52,000. KBC Group NV purchased a new stake in LandBridge in the fourth quarter valued at approximately $72,000. Blue Trust Inc. purchased a new stake in LandBridge in the fourth quarter valued at approximately $110,000. Finally, Barclays PLC purchased a new stake in LandBridge in the fourth quarter valued at approximately $180,000.

Insider Activity

In related news, Director David N. Capobianco sold 1,900,000 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $75.25, for a total value of $142,975,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 70.42% of the company’s stock.

LandBridge Trading Down 3.4%

LandBridge stock opened at $71.61 on Monday. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month high of $87.60. The firm has a market cap of $5.24 billion and a PE ratio of 20.12. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.60. The stock’s 50 day simple moving average is $72.56 and its two-hundred day simple moving average is $70.11.

LandBridge Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 19th. Stockholders of record on Thursday, June 5th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.56%. LandBridge’s dividend payout ratio (DPR) is 11.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on LB shares. Piper Sandler dropped their target price on LandBridge from $79.00 to $70.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Wells Fargo & Company upped their target price on LandBridge from $82.00 to $93.00 and gave the company an “overweight” rating in a research report on Friday, May 16th. The Goldman Sachs Group upped their price objective on LandBridge from $73.00 to $88.00 and gave the stock a “buy” rating in a research report on Wednesday, March 26th. Barclays upped their price objective on LandBridge from $79.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Friday, March 21st. Finally, Johnson Rice lowered LandBridge from a “buy” rating to an “accumulate” rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.67.

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.