Guardian Capital LP reduced its stake in shares of Thomson Reuters Corp (NYSE:TRI) (TSE:TRI) by 16.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,540,633 shares of the business services provider’s stock after selling 299,338 shares during the period. Thomson Reuters accounts for about 1.0% of Guardian Capital LP’s portfolio, making the stock its 29th largest holding. Guardian Capital LP owned approximately 0.22% of Thomson Reuters worth $70,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently modified their holdings of TRI. ETF Managers Group LLC acquired a new position in shares of Thomson Reuters during the 2nd quarter worth approximately $127,000. Omnia Family Wealth LLC boosted its holdings in shares of Thomson Reuters by 0.3% during the 2nd quarter. Omnia Family Wealth LLC now owns 3,538 shares of the business services provider’s stock worth $164,000 after purchasing an additional 10 shares during the last quarter. Beach Investment Management LLC. acquired a new position in shares of Thomson Reuters during the 2nd quarter worth approximately $203,000. Boothbay Fund Management LLC acquired a new position in shares of Thomson Reuters during the 3rd quarter worth approximately $216,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Thomson Reuters by 44.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,900 shares of the business services provider’s stock worth $227,000 after purchasing an additional 1,497 shares during the last quarter. Institutional investors and hedge funds own 24.56% of the company’s stock.
Several brokerages have recently weighed in on TRI. Zacks Investment Research cut Thomson Reuters from a “buy” rating to a “hold” rating in a report on Wednesday, October 4th. Piper Jaffray Companies restated a “hold” rating and set a $50.00 target price on shares of Thomson Reuters in a report on Tuesday, September 19th. Berenberg Bank set a $37.00 target price on Thomson Reuters and gave the stock a “sell” rating in a report on Thursday, October 5th. Scotiabank upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating and boosted their target price for the stock from $47.00 to $55.00 in a report on Tuesday, October 17th. Finally, Morgan Stanley lowered their target price on Thomson Reuters from $52.00 to $49.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Thomson Reuters has a consensus rating of “Hold” and an average price target of $51.23.
Thomson Reuters Corp (NYSE:TRI) traded up $0.09 on Tuesday, reaching $44.35. The company had a trading volume of 466,000 shares, compared to its average volume of 1,123,650. Thomson Reuters Corp has a 12-month low of $42.22 and a 12-month high of $48.61. The firm has a market capitalization of $31,493.63, a PE ratio of 17.63, a PEG ratio of 2.16 and a beta of 0.71. The company has a quick ratio of 0.63, a current ratio of 0.63 and a debt-to-equity ratio of 0.41.
Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings data on Wednesday, November 1st. The business services provider reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.10. Thomson Reuters had a return on equity of 13.91% and a net margin of 27.20%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.82 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. equities analysts predict that Thomson Reuters Corp will post 2.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 16th will be issued a $0.345 dividend. This represents a $1.38 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Wednesday, November 15th. Thomson Reuters’s dividend payout ratio is presently 33.09%.
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About Thomson Reuters
Thomson Reuters Corp (Thomson Reuters) is a Canada-based provider of news and information for professional markets. The Company is organized in three business units: Financial & Risk, Legal, and Tax & Accounting. The Financial & Risk unit is a provider of critical news, information and analytics, enabling transactions and connecting communities of trading, investment, financial and corporate professionals.
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