Steinberg Global Asset Management Reduces Holdings in Texas Pacific Land Trust (TPL)

Steinberg Global Asset Management trimmed its position in Texas Pacific Land Trust (NYSE:TPL) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,916 shares of the financial services provider’s stock after selling 328 shares during the period. Texas Pacific Land Trust comprises 1.0% of Steinberg Global Asset Management’s portfolio, making the stock its 29th biggest holding. Steinberg Global Asset Management owned about 0.17% of Texas Pacific Land Trust worth $6,528,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Cordasco Financial Network purchased a new position in shares of Texas Pacific Land Trust during the 1st quarter valued at about $33,000. Financial Management Professionals Inc. lifted its position in shares of Texas Pacific Land Trust by 19.4% during the 4th quarter. Financial Management Professionals Inc. now owns 154 shares of the financial services provider’s stock valued at $83,000 after buying an additional 25 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Texas Pacific Land Trust by 219.3% during the 4th quarter. Legal & General Group Plc now owns 182 shares of the financial services provider’s stock valued at $99,000 after buying an additional 125 shares in the last quarter. Advisor Group Inc. lifted its position in shares of Texas Pacific Land Trust by 34.1% during the 4th quarter. Advisor Group Inc. now owns 236 shares of the financial services provider’s stock valued at $127,000 after buying an additional 60 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Texas Pacific Land Trust during the 3rd quarter valued at about $202,000. 40.10% of the stock is currently owned by institutional investors and hedge funds.

Separately, ValuEngine raised Texas Pacific Land Trust from a “hold” rating to a “buy” rating in a research report on Friday, January 25th.

In other Texas Pacific Land Trust news, major shareholder Horizon Kinetics Llc bought 42 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $748.14 per share, with a total value of $31,421.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have purchased a total of 511 shares of company stock worth $401,830 in the last three months. 0.92% of the stock is owned by corporate insiders.

TPL traded down $6.92 on Monday, hitting $894.12. 11,226 shares of the company’s stock traded hands, compared to its average volume of 21,044. The company has a market capitalization of $6.82 billion, a PE ratio of 32.66 and a beta of 1.32. Texas Pacific Land Trust has a one year low of $409.00 and a one year high of $915.66.

Texas Pacific Land Trust (NYSE:TPL) last issued its earnings results on Thursday, January 31st. The financial services provider reported $8.06 earnings per share (EPS) for the quarter. The company had revenue of $93.20 million for the quarter. Texas Pacific Land Trust had a return on equity of 119.34% and a net margin of 115.70%.

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

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