Beddow Capital Management Inc. lifted its stake in Texas Pacific Land Trust (NYSE:TPL) by 3.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,215 shares of the financial services provider’s stock after buying an additional 339 shares during the period. Texas Pacific Land Trust comprises approximately 2.7% of Beddow Capital Management Inc.’s holdings, making the stock its 21st largest holding. Beddow Capital Management Inc. owned approximately 0.12% of Texas Pacific Land Trust worth $4,991,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Ramsey Quantitative Systems purchased a new stake in Texas Pacific Land Trust in the 3rd quarter worth about $422,000. Xact Kapitalforvaltning AB lifted its position in shares of Texas Pacific Land Trust by 11.2% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 993 shares of the financial services provider’s stock worth $857,000 after acquiring an additional 100 shares during the period. Fisher Asset Management LLC lifted its position in shares of Texas Pacific Land Trust by 75.4% in the 3rd quarter. Fisher Asset Management LLC now owns 642 shares of the financial services provider’s stock worth $554,000 after acquiring an additional 276 shares during the period. Creative Planning lifted its position in shares of Texas Pacific Land Trust by 4.5% during the 3rd quarter. Creative Planning now owns 3,138 shares of the financial services provider’s stock worth $2,707,000 after buying an additional 135 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in shares of Texas Pacific Land Trust during the 3rd quarter worth approximately $1,208,000. 39.55% of the stock is owned by institutional investors and hedge funds.
NYSE TPL opened at $724.82 on Thursday. The firm has a market capitalization of $5.63 billion, a PE ratio of 26.02 and a beta of 1.47. Texas Pacific Land Trust has a 52 week low of $409.00 and a 52 week high of $877.97.
Texas Pacific Land Trust (NYSE:TPL) last released its earnings results on Thursday, January 31st. The financial services provider reported $8.06 EPS for the quarter. The company had revenue of $93.20 million during the quarter. Texas Pacific Land Trust had a return on equity of 137.29% and a net margin of 115.70%.
In related news, insider Maurice Meyer III sold 500 shares of Texas Pacific Land Trust stock in a transaction on Monday, November 19th. The stock was sold at an average price of $607.26, for a total transaction of $303,630.00. Following the completion of the sale, the insider now directly owns 60,546 shares of the company’s stock, valued at $36,767,163.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David E. Barry acquired 100 shares of the firm’s stock in a transaction that occurred on Wednesday, December 26th. The shares were bought at an average cost of $467.06 per share, with a total value of $46,706.00. Following the completion of the purchase, the insider now owns 300 shares of the company’s stock, valued at $140,118. The disclosure for this purchase can be found here. 0.92% of the stock is currently owned by company insiders.
Separately, ValuEngine upgraded Texas Pacific Land Trust from a “hold” rating to a “buy” rating in a research report on Friday, January 25th.
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Texas Pacific Land Trust Profile
Texas Pacific Land Trust holds title to tracts of land in the state of Texas. The company operates through two segments, Land and Resource Management, and Water Service and Operations. It sells, leases, and manages these lands for the benefit of the holders of Certificates of Proprietary Interest in the Trust.
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