Steinberg Global Asset Management cut its holdings in shares of Texas Pacific Land Trust (NYSE:TPL) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,916 shares of the financial services provider’s stock after selling 328 shares during the quarter. Texas Pacific Land Trust makes up approximately 1.0% of Steinberg Global Asset Management’s portfolio, making the stock its 29th largest holding. Steinberg Global Asset Management owned 0.17% of Texas Pacific Land Trust worth $6,528,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in TPL. Polar Capital LLP increased its position in shares of Texas Pacific Land Trust by 30.1% during the fourth quarter. Polar Capital LLP now owns 37,265 shares of the financial services provider’s stock valued at $20,184,000 after buying an additional 8,617 shares during the period. Millennium Management LLC grew its position in Texas Pacific Land Trust by 910.1% during the fourth quarter. Millennium Management LLC now owns 6,677 shares of the financial services provider’s stock valued at $3,616,000 after acquiring an additional 6,016 shares during the last quarter. Marshall Wace North America L.P. bought a new position in Texas Pacific Land Trust during the third quarter valued at approximately $3,612,000. FMR LLC purchased a new stake in shares of Texas Pacific Land Trust during the fourth quarter valued at approximately $1,570,000. Finally, Mackenzie Financial Corp purchased a new stake in Texas Pacific Land Trust in the fourth quarter worth $1,373,000. Hedge funds and other institutional investors own 39.78% of the company’s stock.
Shares of Texas Pacific Land Trust stock opened at $790.27 on Wednesday. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 20.51 and a beta of 1.30. Texas Pacific Land Trust has a 12 month low of $409.00 and a 12 month high of $915.66.
In other news, major shareholder Kinetics Asset Managem Horizon bought 36 shares of the company’s stock in a transaction on Monday, May 6th. The shares were acquired at an average cost of $807.23 per share, with a total value of $29,060.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Horizon Kinetics Llc bought 42 shares of the company’s stock in a transaction on Friday, March 15th. The stock was purchased at an average cost of $748.14 per share, for a total transaction of $31,421.88. The disclosure for this purchase can be found here. Insiders have bought 847 shares of company stock valued at $690,645 over the last 90 days. Corporate insiders own 0.92% of the company’s stock.
Separately, ValuEngine raised 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 Company 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.
See Also: Compound Annual Growth Rate (CAGR)
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