First Manhattan CO. LLC. Grows Stake in LandBridge Company LLC $LB

First Manhattan CO. LLC. grew its holdings in LandBridge Company LLC (NYSE:LB) by 24.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 6,861,939 shares of the company’s stock after acquiring an additional 1,330,099 shares during the quarter. LandBridge comprises 0.9% of First Manhattan CO. LLC.’s investment portfolio, making the stock its 24th biggest holding. First Manhattan CO. LLC. owned about 8.81% of LandBridge worth $338,714,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. NewEdge Advisors LLC increased 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 acquiring an additional 209 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of LandBridge in the 4th quarter valued at about $33,000. Quattro Advisors LLC purchased a new position in shares of LandBridge in the 4th quarter valued at about $36,000. CIBC Private Wealth Group LLC acquired a new stake in shares of LandBridge in the 4th quarter valued at about $40,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in shares of LandBridge in the 4th quarter valued at about $51,000.

LandBridge Stock Down 2.7%

Shares of NYSE LB opened at $63.62 on Thursday. The stock has a market cap of $4.90 billion, a PE ratio of 65.59 and a beta of 0.08. The company has a quick ratio of 3.15, a current ratio of 3.15 and a debt-to-equity ratio of 0.66. LandBridge Company LLC has a 52-week low of $43.75 and a 52-week high of $85.60. The business has a 50-day moving average price of $69.48 and a 200 day moving average price of $64.12.

LandBridge (NYSE:LB) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.44). LandBridge had a return on equity of 4.34% and a net margin of 15.71%.The company had revenue of $51.01 million for the quarter, compared to analyst estimates of $58.72 million. During the same period in the previous year, the business posted $0.37 earnings per share. The firm’s revenue was up 16.0% compared to the same quarter last year. Equities research analysts forecast that LandBridge Company LLC will post 1.48 earnings per share for the current year.

LandBridge announced that its board has authorized a share repurchase program on Wednesday, February 25th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the company to purchase up to 1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

LandBridge Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Thursday, June 4th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, June 4th. LandBridge’s dividend payout ratio (DPR) is presently 49.48%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Barclays upped 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. Weiss Ratings reissued a “hold (c)” rating on shares of LandBridge in a research report on Wednesday, April 8th. The Goldman Sachs Group set a $84.00 target price on LandBridge in a research report on Thursday, May 28th. Zacks Research cut LandBridge from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company upped their target price on LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.17.

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.