Thomson Reuters Corp $TRI Stock: Value Partners Investments Inc. Lowers Stake

Value Partners Investments Inc. reduced its stake in Thomson Reuters Corp (NASDAQ:TRI) by 73.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,236 shares of the company’s stock after selling 6,136 shares during the quarter. Value Partners Investments Inc.’s holdings in Thomson Reuters were worth $218,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TRI. Bank of America Corp DE boosted its holdings in Thomson Reuters by 48.7% in the first quarter. Bank of America Corp DE now owns 1,627,069 shares of the company’s stock valued at $146,404,000 after acquiring an additional 532,803 shares during the last quarter. TD Waterhouse Canada Inc. increased its position in Thomson Reuters by 13.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,468,484 shares of the company’s stock valued at $143,304,000 after purchasing an additional 171,375 shares during the period. First Trust Advisors LP increased its position in Thomson Reuters by 33.3% during the 1st quarter. First Trust Advisors LP now owns 1,588,756 shares of the company’s stock valued at $142,956,000 after purchasing an additional 397,150 shares during the period. The Manufacturers Life Insurance Company raised its holdings in Thomson Reuters by 65.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,500,365 shares of the company’s stock worth $135,297,000 after purchasing an additional 591,642 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in Thomson Reuters during the 2nd quarter worth approximately $107,223,000. 17.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TRI. Scotia dropped their price target on shares of Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Thursday, August 6th. Weiss Ratings raised shares of Thomson Reuters from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday. Canaccord Genuity Group decreased their price objective on shares of Thomson Reuters from $134.00 to $132.50 and set a “buy” rating for the company in a research report on Thursday, August 6th. Morgan Stanley set a $110.00 target price on shares of Thomson Reuters and gave the stock an “equal weight” rating in a research note on Tuesday, October 13th. Finally, Scotiabank restated a “sector outperform” rating and issued a $135.00 target price on shares of Thomson Reuters in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Thomson Reuters currently has an average rating of “Moderate Buy” and a consensus target price of $130.97.

Thomson Reuters Trading Down 0.7%

Shares of Thomson Reuters stock traded down $0.78 on Monday, hitting $108.23. 1,774,960 shares of the company’s stock traded hands, compared to its average volume of 2,161,199. Thomson Reuters Corp has a one year low of $76.28 and a one year high of $164.30. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51. The company has a fifty day moving average of $102.14 and a two-hundred day moving average of $93.86. The company has a market capitalization of $46.89 billion, a price-to-earnings ratio of 28.81, a price-to-earnings-growth ratio of 2.09 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI) last released its earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.96 by $0.03. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.89 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.87 earnings per share. As a group, sell-side analysts expect that Thomson Reuters Corp will post 4.48 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th were issued a dividend of $0.6550 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date was Wednesday, August 19th. Thomson Reuters’s dividend payout ratio is presently 69.68%.

About Thomson Reuters

Thomson Reuters is a global provider of information, software and technology solutions for professionals and institutions. The company serves customers in the legal, tax, accounting, audit, corporate, government, risk and compliance sectors, as well as the media industry. Its offerings combine authoritative content with workflow tools, data analytics and artificial intelligence.

Key products and services include Westlaw and Practical Law for legal research and practice management; Checkpoint and ONESOURCE for tax and accounting professionals; Confirmation for audit-related workflows; and CoCounsel, an AI-assisted legal technology platform.