Schwartz Investment Counsel Inc. Buys 13,128 Shares of LandBridge Company LLC $LB

Schwartz Investment Counsel Inc. boosted its stake in LandBridge Company LLC (NYSE:LB) by 2.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 592,891 shares of the company’s stock after acquiring an additional 13,128 shares during the quarter. Schwartz Investment Counsel Inc. owned 0.76% of LandBridge worth $29,046,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Comerica Bank lifted its position in LandBridge by 13.6% in the 3rd quarter. Comerica Bank now owns 1,369 shares of the company’s stock valued at $73,000 after acquiring an additional 164 shares in the last quarter. NewEdge Advisors LLC lifted its position in 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 in the last quarter. Geode Capital Management LLC lifted its position in LandBridge by 0.8% in the 2nd quarter. Geode Capital Management LLC now owns 28,971 shares of the company’s stock valued at $1,958,000 after acquiring an additional 230 shares in the last quarter. Osaic Holdings Inc. lifted its position in LandBridge by 12.5% in the 2nd 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, Arizona State Retirement System lifted its position in LandBridge by 9.7% in the 3rd quarter. Arizona State Retirement System now owns 5,582 shares of the company’s stock valued at $298,000 after acquiring an additional 493 shares in the last quarter.

LandBridge Trading Up 1.1%

Shares of NYSE:LB opened at $67.96 on Wednesday. The company’s 50-day moving average price is $69.82 and its two-hundred day moving average price is $62.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.15 and a quick ratio of 3.15. LandBridge Company LLC has a one year low of $43.75 and a one year high of $87.60. The stock has a market capitalization of $5.24 billion, a PE ratio of 70.06 and a beta of 0.14.

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

LandBridge announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 25th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 1% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

LandBridge Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $0.48 annualized dividend and a yield of 0.7%. LandBridge’s payout ratio is 49.48%.

Insider Buying and Selling

In other LandBridge news, Director Charles L. Watson sold 13,000 shares of the business’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $75.00, for a total transaction of $975,000.00. Following the sale, the director directly owned 64,250 shares of the company’s stock, valued at $4,818,750. The trade was a 16.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Over the last quarter, insiders have sold 53,350 shares of company stock worth $3,974,555. Insiders own 70.42% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on LB. Piper Sandler reaffirmed a “neutral” rating and issued a $66.00 price objective (up from $65.00) on shares of LandBridge in a research report on Friday. Wells Fargo & Company boosted their price objective on shares of LandBridge from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Wednesday, March 18th. The Goldman Sachs Group boosted their price objective on shares of LandBridge from $69.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, March 13th. Barclays boosted their price objective on shares of LandBridge from $57.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of LandBridge in a research report on Wednesday, April 8th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $76.17.

About LandBridge

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.