Morgan Stanley Has $19.24 Million Position in Texas Pacific Land Trust (NYSE:TPL)

Morgan Stanley boosted its holdings in shares of Texas Pacific Land Trust (NYSE:TPL) by 118.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,642 shares of the financial services provider’s stock after buying an additional 27,442 shares during the period. Morgan Stanley owned about 0.65% of Texas Pacific Land Trust worth $19,244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Altus Wealth Management LLC boosted its stake in shares of Texas Pacific Land Trust by 1.9% in the 1st quarter. Altus Wealth Management LLC now owns 1,082 shares of the financial services provider’s stock valued at $411,000 after purchasing an additional 20 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of Texas Pacific Land Trust by 10.8% in the 4th quarter. Advisor Group Inc. now owns 297 shares of the financial services provider’s stock valued at $233,000 after purchasing an additional 29 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Texas Pacific Land Trust by 20.4% in the 1st quarter. Legal & General Group Plc now owns 266 shares of the financial services provider’s stock valued at $101,000 after purchasing an additional 45 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of Texas Pacific Land Trust by 84.7% in the 4th quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 109 shares of the financial services provider’s stock valued at $85,000 after purchasing an additional 50 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its stake in shares of Texas Pacific Land Trust by 18.5% in the 1st quarter. Financial Management Professionals Inc. now owns 326 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 43.92% of the company’s stock.

Several brokerages have recently commented on TPL. Zacks Investment Research upgraded shares of Texas Pacific Land Trust from a “hold” rating to a “strong-buy” rating and set a $674.00 target price on the stock in a research note on Tuesday, June 2nd. TheStreet raised Texas Pacific Land Trust from a “c+” rating to a “b-” rating in a report on Friday, May 22nd.

In other news, major shareholder Kinetics Asset Managem Horizon acquired 176 shares of the company’s stock in a transaction on Friday, May 8th. The stock was purchased at an average cost of $521.55 per share, with a total value of $91,792.80. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have acquired a total of 3,479 shares of company stock valued at $2,036,874 over the last three months. Company insiders own 0.92% of the company’s stock.

Shares of NYSE:TPL opened at $570.01 on Wednesday. The stock has a market capitalization of $4.42 billion, a P/E ratio of 18.55 and a beta of 1.98. Texas Pacific Land Trust has a 1-year low of $295.05 and a 1-year high of $838.50. The company has a current ratio of 13.83, a quick ratio of 13.83 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $592.77 and a two-hundred day moving average price of $625.19.

Texas Pacific Land Trust (NYSE:TPL) last announced its quarterly earnings data on Thursday, April 30th. The financial services provider reported $7.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $7.19 by $0.21. The firm had revenue of $96.59 million during the quarter, compared to analysts’ expectations of $93.00 million. Texas Pacific Land Trust had a return on equity of 53.43% and a net margin of 60.22%. As a group, equities analysts predict that Texas Pacific Land Trust will post 27.82 EPS for the current year.

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.

Further Reading: Insider Trading

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Institutional Ownership by Quarter for Texas Pacific Land Trust (NYSE:TPL)

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