Nordea Investment Management AB grew its holdings in Texas Pacific Land Trust (NYSE:TPL) by 206.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 16,646 shares of the financial services provider’s stock after buying an additional 11,206 shares during the period. Nordea Investment Management AB owned 0.21% of Texas Pacific Land Trust worth $9,454,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TPL. US Bancorp DE lifted its holdings in shares of Texas Pacific Land Trust by 0.3% during the second quarter. US Bancorp DE now owns 10,926 shares of the financial services provider’s stock worth $6,498,000 after purchasing an additional 28 shares during the period. Creative Planning increased its stake in Texas Pacific Land Trust by 1.4% in the 2nd quarter. Creative Planning now owns 2,919 shares of the financial services provider’s stock valued at $1,736,000 after purchasing an additional 40 shares in the last quarter. Legal & General Group Plc raised its position in Texas Pacific Land Trust by 20.4% during the first quarter. Legal & General Group Plc now owns 266 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 45 shares during the last quarter. HighTower Advisors LLC lifted its stake in Texas Pacific Land Trust by 7.6% in the 1st quarter. HighTower Advisors LLC now owns 792 shares of the financial services provider’s stock valued at $302,000 after buying an additional 56 shares in the last quarter. Finally, Campbell Wealth Management acquired a new stake in Texas Pacific Land Trust during the 2nd quarter valued at $45,000. 47.22% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently weighed in on the company. Zacks Investment Research raised Texas Pacific Land Trust from a “hold” rating to a “strong-buy” rating and set a $674.00 price target for the company in a report on Tuesday, June 2nd. Stifel Nicolaus cut their target price on shares of Texas Pacific Land Trust from $751.00 to $679.00 and set a “buy” rating for the company in a research note on Thursday, August 6th. Finally, TheStreet upgraded shares of Texas Pacific Land Trust from a “c+” rating to a “b-” rating in a report on Friday, May 22nd.
In other news, major shareholder Kinetics Asset Managem Horizon bought 238 shares of Texas Pacific Land Trust stock in a transaction on Friday, June 12th. The shares were bought at an average cost of $627.00 per share, for a total transaction of $149,226.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders acquired 4,310 shares of company stock worth $2,555,923. 0.92% of the stock is owned by insiders.
NYSE:TPL opened at $510.69 on Friday. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 18.30 and a beta of 1.82. The company has a current ratio of 20.03, a quick ratio of 20.03 and a debt-to-equity ratio of 0.01. The company’s 50-day moving average is $564.69 and its two-hundred day moving average is $557.24. Texas Pacific Land Trust has a 12-month low of $295.05 and a 12-month high of $838.50.
Texas Pacific Land Trust (NYSE:TPL) last released its earnings results on Thursday, July 30th. The financial services provider reported $3.56 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $6.24 by ($2.68). The firm had revenue of $54.57 million during the quarter, compared to analysts’ expectations of $83.00 million. Texas Pacific Land Trust had a net margin of 59.59% and a return on equity of 46.18%. On average, equities research analysts forecast that Texas Pacific Land Trust will post 19.27 earnings per share for the current fiscal year.
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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