First Republic Investment Management Inc. Buys New Stake in Texas Pacific Land Trust (TPL)

First Republic Investment Management Inc. purchased a new stake in Texas Pacific Land Trust (NYSE:TPL) during the 1st quarter, HoldingsChannel reports. The firm purchased 345 shares of the financial services provider’s stock, valued at approximately $267,000.

Other hedge funds have also added to or reduced their stakes in the company. Cordasco Financial Network purchased a new position in shares of Texas Pacific Land Trust during the first quarter valued at approximately $33,000. Cullen Frost Bankers Inc. purchased a new position in shares of Texas Pacific Land Trust during the first quarter valued at approximately $116,000. Financial Management Professionals Inc. lifted its stake in shares of Texas Pacific Land Trust by 19.4% during the fourth 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 during the period. Legal & General Group Plc lifted its stake in shares of Texas Pacific Land Trust by 219.3% during the fourth 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 during the period. Finally, Osborn Williams & Donohoe LLC purchased a new position in shares of Texas Pacific Land Trust during the first quarter valued at approximately $176,000. Institutional investors and hedge funds own 39.72% of the company’s stock.

In other Texas Pacific Land Trust news, major shareholder Kinetics Asset Managem Horizon acquired 36 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was bought at an average price of $799.98 per share, with a total value of $28,799.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Horizon Kinetics Llc acquired 42 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was acquired at an average cost of $741.16 per share, with a total value of $31,128.72. The disclosure for this purchase can be found here. Insiders bought 991 shares of company stock valued at $806,054 in the last three months. Company insiders own 0.92% of the company’s stock.

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

Texas Pacific Land Trust stock opened at $866.41 on Monday. Texas Pacific Land Trust has a 52-week low of $409.00 and a 52-week high of $915.66. The firm has a market capitalization of $6.72 billion, a PE ratio of 22.02 and a beta of 1.30. The company has a quick ratio of 18.54, a current ratio of 18.54 and a debt-to-equity ratio of 0.01.

Texas Pacific Land Trust (NYSE:TPL) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $18.04 earnings per share (EPS) for the quarter. Texas Pacific Land Trust had a net margin of 162.78% and a return on equity of 132.12%. The company had revenue of $33.21 million during the quarter.

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About Texas Pacific Land Trust

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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