Meiji Yasuda Asset Management Co Ltd. Sells 474 Shares of Texas Pacific Land Co. (NYSE:TPL)

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in Texas Pacific Land Co. (NYSE:TPL) by 64.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 259 shares of the financial services provider’s stock after selling 474 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Texas Pacific Land were worth $286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. PKS Advisory Services LLC purchased a new position in shares of Texas Pacific Land during the fourth quarter worth approximately $322,000. Dudley Capital Management LLC purchased a new position in Texas Pacific Land during the 4th quarter worth $234,000. Prudential Financial Inc. raised its position in Texas Pacific Land by 449.3% during the 4th quarter. Prudential Financial Inc. now owns 21,313 shares of the financial services provider’s stock valued at $23,571,000 after purchasing an additional 17,433 shares in the last quarter. CMC Financial Group purchased a new stake in shares of Texas Pacific Land in the 4th quarter worth $472,000. Finally, Vanguard Group Inc. grew its position in shares of Texas Pacific Land by 12.5% during the 4th quarter. Vanguard Group Inc. now owns 2,350,380 shares of the financial services provider’s stock worth $2,599,426,000 after buying an additional 260,278 shares in the last quarter. Hedge funds and other institutional investors own 59.94% of the company’s stock.

Texas Pacific Land Price Performance

TPL stock opened at $1,307.86 on Friday. Texas Pacific Land Co. has a 1-year low of $555.71 and a 1-year high of $1,769.14. The business has a 50-day moving average price of $1,348.93 and a 200 day moving average price of $1,239.36. The company has a market capitalization of $30.06 billion, a P/E ratio of 66.32 and a beta of 1.69.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 19th. The financial services provider reported $5.14 earnings per share for the quarter. The firm had revenue of $185.78 million during the quarter. Texas Pacific Land had a net margin of 64.32% and a return on equity of 40.23%.

Texas Pacific Land Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $1.60 dividend. This represents a $6.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend was Monday, March 3rd. Texas Pacific Land’s payout ratio is 32.45%.

Insider Buying and Selling

In other news, CFO Chris Steddum sold 214 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total value of $281,193.86. Following the sale, the chief financial officer now directly owns 3,502 shares in the company, valued at approximately $4,601,592.98. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $1,271.52, for a total transaction of $1,462,248.00. Following the completion of the transaction, the vice president now directly owns 1,393 shares in the company, valued at approximately $1,771,227.36. The trade was a 45.22 % decrease in their position. The disclosure for this sale can be found here. Insiders purchased 68 shares of company stock worth $91,008 in the last three months. 6.50% of the stock is owned by insiders.

Texas Pacific Land Profile

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.