Canton Hathaway LLC Purchases Shares of 3,260 LandBridge Co LLC (NYSE:LB)

Canton Hathaway LLC purchased a new stake in LandBridge Co LLC (NYSE:LB) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,260 shares of the company’s stock, valued at approximately $211,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Horizon Kinetics Asset Management LLC increased its position in shares of LandBridge by 10.3% during the third quarter. Horizon Kinetics Asset Management LLC now owns 5,190,867 shares of the company’s stock worth $203,067,000 after acquiring an additional 484,968 shares in the last quarter. FMR LLC boosted its holdings in LandBridge by 40.5% during the third quarter. FMR LLC now owns 2,378,121 shares of the company’s stock worth $93,032,000 after purchasing an additional 686,070 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its holdings in LandBridge by 1.0% during the fourth quarter. Schwartz Investment Counsel Inc. now owns 426,568 shares of the company’s stock worth $27,556,000 after purchasing an additional 4,400 shares during the last quarter. Boston Financial Mangement LLC purchased a new position in LandBridge during the fourth quarter worth about $15,276,000. Finally, Mad River Investors boosted its holdings in LandBridge by 0.4% during the fourth quarter. Mad River Investors now owns 233,452 shares of the company’s stock worth $15,081,000 after purchasing an additional 902 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LB. The Goldman Sachs Group restated a “buy” rating and set a $71.00 price target on shares of LandBridge in a report on Friday, January 3rd. Barclays boosted their price target on shares of LandBridge from $38.00 to $79.00 and gave the stock an “equal weight” rating in a report on Friday, January 17th. Royal Bank of Canada restated an “underperform” rating and set a $25.00 price target on shares of LandBridge in a report on Tuesday, December 10th. Piper Sandler boosted their price target on shares of LandBridge from $39.00 to $79.00 and gave the stock a “neutral” rating in a report on Monday, November 25th. Finally, Raymond James boosted their target price on shares of LandBridge from $80.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.33.

LandBridge Stock Up 0.3 %

Shares of LB stock opened at $65.40 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.73 and a current ratio of 0.73. The firm’s 50 day moving average is $68.31 and its 200 day moving average is $57.09. LandBridge Co LLC has a 12 month low of $18.75 and a 12 month high of $84.70.

LandBridge Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Thursday, March 6th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Thursday, March 6th.

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.