Baird Financial Group Inc. Sells 704 Shares of Texas Pacific Land Corporation $TPL

Key Points

• Baird Financial Group Inc. reduced its stake in Texas Pacific Land Corporation by 14.0%, selling 704 shares and now holding 4,340 shares valued at approximately $5.75 million.
• GAMMA Investing LLC significantly increased its position in Texas Pacific Land by 241,048.0%, now owning 361,722 shares worth about $479.28 million.
• The company recently announced a quarterly dividend of $1.60, which will be paid on September 16th, representing a dividend yield of 0.7%.

Baird Financial Group Inc. reduced its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL - Free Report) by 14.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,340 shares of the financial services provider's stock after selling 704 shares during the quarter. Baird Financial Group Inc.'s holdings in Texas Pacific Land were worth $5,750,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Hemington Wealth Management raised its stake in shares of Texas Pacific Land by 66.7% during the 1st quarter. Hemington Wealth Management now owns 20 shares of the financial services provider's stock worth $26,000 after purchasing an additional 8 shares during the period. Golden State Wealth Management LLC increased its holdings in Texas Pacific Land by 110.0% during the first quarter. Golden State Wealth Management LLC now owns 21 shares of the financial services provider's stock worth $28,000 after buying an additional 11 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in Texas Pacific Land in the first quarter worth about $28,000. Allworth Financial LP raised its position in Texas Pacific Land by 42.1% in the first quarter. Allworth Financial LP now owns 27 shares of the financial services provider's stock worth $36,000 after acquiring an additional 8 shares during the period. Finally, GW&K Investment Management LLC boosted its stake in Texas Pacific Land by 237.5% in the first quarter. GW&K Investment Management LLC now owns 27 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 19 shares during the last quarter. Institutional investors own 59.94% of the company's stock.

Texas Pacific Land Price Performance

Shares of Texas Pacific Land stock traded up $37.06 on Wednesday, reaching $937.18. 92,718 shares of the company traded hands, compared to its average volume of 128,156. The company has a 50 day moving average of $948.22 and a 200 day moving average of $1,148.14. Texas Pacific Land Corporation has a 52 week low of $766.51 and a 52 week high of $1,769.14. The firm has a market capitalization of $21.55 billion, a PE ratio of 46.72 and a beta of 1.19.

Texas Pacific Land (NYSE:TPL - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The financial services provider reported $5.05 EPS for the quarter, missing analysts' consensus estimates of $5.48 by ($0.43). Texas Pacific Land had a return on equity of 39.47% and a net margin of 62.16%.The company had revenue of $187.54 million during the quarter, compared to the consensus estimate of $198.00 million.

Texas Pacific Land Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $1.60 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $6.40 annualized dividend and a dividend yield of 0.7%. Texas Pacific Land's dividend payout ratio is presently 31.90%.

Insider Buying and Selling at Texas Pacific Land

In other news, Director Eric L. Oliver acquired 100 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was bought at an average price of $881.27 per share, with a total value of $88,127.00. Following the acquisition, the director owned 393,600 shares in the company, valued at $346,867,872. The trade was a 0.03% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In the last ninety days, insiders acquired 260 shares of company stock worth $245,052. 6.50% of the stock is currently owned by corporate insiders.

About Texas Pacific Land

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.