TD Waterhouse Canada Inc. Trims Stock Position in Thomson Reuters Corp $TRI

TD Waterhouse Canada Inc. cut its stake in shares of Thomson Reuters Corp (NASDAQ:TRI) by 3.6% during the second quarter, HoldingsChannel.com reports. The fund owned 1,297,109 shares of the company’s stock after selling 48,614 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in Thomson Reuters were worth $110,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in Thomson Reuters by 10.5% during the 4th quarter. Bank of New York Mellon Corp now owns 493,071 shares of the company’s stock valued at $65,031,000 after purchasing an additional 46,680 shares in the last quarter. Alberta Investment Management Corp bought a new position in shares of Thomson Reuters during the 2nd quarter worth $38,770,000. Vest Financial LLC grew its position in shares of Thomson Reuters by 95.2% during the 2nd quarter. Vest Financial LLC now owns 93,557 shares of the company’s stock worth $7,641,000 after buying an additional 45,618 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Thomson Reuters by 0.7% during the fourth quarter. TD Asset Management Inc now owns 4,664,372 shares of the company’s stock valued at $616,342,000 after buying an additional 33,418 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Thomson Reuters by 44,306.9% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 154,536 shares of the company’s stock valued at $12,621,000 after buying an additional 154,188 shares during the period. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Trading Up 5.6%

TRI opened at $111.76 on Friday. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. The firm has a market cap of $48.68 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 2.04 and a beta of 0.74. Thomson Reuters Corp has a 12 month low of $76.28 and a 12 month high of $180.00. The stock has a fifty day moving average price of $97.89 and a 200-day moving average price of $92.99.

Thomson Reuters (NASDAQ:TRI) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.03. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $1.89 billion. During the same quarter last year, the company earned $0.87 earnings per share. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Thomson Reuters Corp will post 4.45 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, August 19th. Thomson Reuters’s dividend payout ratio is presently 69.68%.

Analyst Ratings Changes

A number of research firms recently weighed in on TRI. Scotiabank reaffirmed a “sector outperform” rating and issued a $135.00 price objective on shares of Thomson Reuters in a research note on Thursday, August 6th. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Royal Bank Of Canada raised their target price on shares of Thomson Reuters from $121.00 to $124.00 and gave the company an “outperform” rating in a research report on Thursday, August 6th. Barclays restated an “overweight” rating and issued a $130.00 price target (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. Finally, Canaccord Genuity Group lowered their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Thomson Reuters has a consensus rating of “Moderate Buy” and a consensus target price of $131.57.

Thomson Reuters Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.