D.A. Davidson & CO. Buys Shares of 278 Texas Pacific Land Trust (TPL)

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D.A. Davidson & CO. bought a new stake in shares of Texas Pacific Land Trust (NYSE:TPL) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 278 shares of the financial services provider’s stock, valued at approximately $240,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Steinberg Global Asset Management raised its stake in Texas Pacific Land Trust by 0.7% during the 3rd quarter. Steinberg Global Asset Management now owns 13,064 shares of the financial services provider’s stock valued at $11,268,000 after purchasing an additional 87 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Texas Pacific Land Trust by 31.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 379 shares of the financial services provider’s stock valued at $327,000 after buying an additional 90 shares during the period. PNC Financial Services Group Inc. increased its holdings in Texas Pacific Land Trust by 1.0% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,948 shares of the financial services provider’s stock valued at $6,918,000 after buying an additional 96 shares during the period. Janney Montgomery Scott LLC increased its holdings in Texas Pacific Land Trust by 12.4% in the 2nd quarter. Janney Montgomery Scott LLC now owns 891 shares of the financial services provider’s stock valued at $620,000 after buying an additional 98 shares during the period. Finally, Xact Kapitalforvaltning AB increased its holdings in Texas Pacific Land Trust by 11.2% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 993 shares of the financial services provider’s stock valued at $857,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 39.64% of the company’s stock.

Shares of Texas Pacific Land Trust stock opened at $568.55 on Friday. The firm has a market capitalization of $4.52 billion, a price-to-earnings ratio of 26.73 and a beta of 1.30. Texas Pacific Land Trust has a 52-week low of $391.79 and a 52-week high of $877.97.

Texas Pacific Land Trust (NYSE:TPL) last announced its quarterly earnings results on Wednesday, October 31st. The financial services provider reported $6.52 earnings per share (EPS) for the quarter. The firm had revenue of $31.25 million for the quarter. Texas Pacific Land Trust had a net margin of 130.87% and a return on equity of 126.45%.

In other Texas Pacific Land Trust news, insider David E. Barry purchased 100 shares of the stock in a transaction on Thursday, October 11th. The shares were purchased at an average price of $810.00 per share, with a total value of $81,000.00. Following the acquisition, the insider now directly owns 200 shares of the company’s stock, valued at approximately $162,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Maurice Meyer III sold 500 shares of the business’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $835.00, for a total transaction of $417,500.00. Following the completion of the sale, the insider now directly owns 63,220 shares in the company, valued at approximately $52,788,700. The disclosure for this sale can be found here. Insiders sold a total of 3,109 shares of company stock worth $2,250,296 in the last three months. Insiders own 0.92% of the company’s stock.

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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.

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Want to see what other hedge funds are holding TPL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Texas Pacific Land Trust (NYSE:TPL).

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

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