Edge Capital Group LLC Sells 200 Shares of Texas Pacific Land Trust (NYSE:TPL)

Edge Capital Group LLC trimmed its position in shares of Texas Pacific Land Trust (NYSE:TPL) by 13.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,300 shares of the financial services provider’s stock after selling 200 shares during the period. Edge Capital Group LLC’s holdings in Texas Pacific Land Trust were worth $1,023,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cordasco Financial Network bought a new position in shares of Texas Pacific Land Trust during the first quarter valued at about $33,000. Cullen Frost Bankers Inc. bought a new position in shares of Texas Pacific Land Trust during the first quarter valued at about $116,000. Rehmann Capital Advisory Group bought a new position in shares of Texas Pacific Land Trust during the first quarter valued at about $136,000. Legal & General Group Plc raised 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 acquiring an additional 125 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC bought a new position in shares of Texas Pacific Land Trust during the first quarter valued at about $176,000. 62.53% of the stock is owned by hedge funds and other institutional investors.

In related news, major shareholder Kinetics Asset Managem Horizon purchased 36 shares of Texas Pacific Land Trust stock in a transaction that occurred on Wednesday, May 8th. The shares were bought at an average price of $799.98 per share, for a total transaction of $28,799.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have purchased 1,850 shares of company stock worth $1,440,533 in the last quarter. 0.92% of the stock is owned by corporate insiders.

Shares of NYSE TPL opened at $695.46 on Tuesday. Texas Pacific Land Trust has a 1 year low of $409.00 and a 1 year high of $915.66. The company has a debt-to-equity ratio of 0.01, a current ratio of 18.54 and a quick ratio of 18.54. The company’s 50-day moving average is $768.16. The stock has a market capitalization of $5.40 billion, a PE ratio of 18.25 and a beta of 1.27.

Separately, ValuEngine downgraded shares of Texas Pacific Land Trust from a “buy” rating to a “hold” rating in a research note on Thursday, May 9th.

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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