Bank of Nova Scotia Trust Co. Cuts Stock Holdings in Thomson Reuters Co. (NYSE:TRI)

Key Points

• Bank of Nova Scotia Trust Co. reduced its holdings in Thomson Reuters (NYSE:TRI) by 2.4%, now owning 63,947 shares valued at approximately $11 million.
• During the fourth quarter, several hedge funds increased their stakes in Thomson Reuters, with Geode Capital Management boosting its position by 74.3%.
• Thomson Reuters reported $1.12 EPS for the latest quarter, exceeding analysts' expectations, despite revenue slightly falling short at $1.90 billion.

Bank of Nova Scotia Trust Co. lessened its position in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,947 shares of the business services provider's stock after selling 1,600 shares during the period. Thomson Reuters makes up approximately 1.2% of Bank of Nova Scotia Trust Co.'s investment portfolio, making the stock its 29th largest position. Bank of Nova Scotia Trust Co.'s holdings in Thomson Reuters were worth $11,049,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Cullen Frost Bankers Inc. increased its holdings in shares of Thomson Reuters by 772.2% during the first quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider's stock worth $27,000 after buying an additional 139 shares in the last quarter. Investment Management Corp VA ADV acquired a new position in shares of Thomson Reuters during the fourth quarter worth $29,000. SBI Securities Co. Ltd. increased its holdings in shares of Thomson Reuters by 41.3% during the first quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider's stock worth $41,000 after buying an additional 69 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Thomson Reuters by 25.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider's stock worth $71,000 after buying an additional 84 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in shares of Thomson Reuters by 42.8% during the first quarter. Fifth Third Bancorp now owns 484 shares of the business services provider's stock worth $84,000 after buying an additional 145 shares in the last quarter. Institutional investors own 17.31% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. TD Securities restated a "hold" rating on shares of Thomson Reuters in a report on Tuesday, July 15th. Wall Street Zen downgraded Thomson Reuters from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. National Bankshares restated an "outperform" rating on shares of Thomson Reuters in a report on Thursday, July 10th. Barclays increased their price objective on Thomson Reuters from $200.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Bank of America started coverage on Thomson Reuters in a report on Thursday, April 10th. They issued a "neutral" rating and a $180.00 price objective for the company. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $193.00.

Thomson Reuters Stock Up 1.4%

TRI traded up $2.74 during midday trading on Monday, reaching $203.82. The company's stock had a trading volume of 661,600 shares, compared to its average volume of 823,069. The firm has a market capitalization of $91.85 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 5.67 and a beta of 0.77. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a 1 year low of $150.01 and a 1 year high of $218.42. The stock's 50-day moving average is $199.44 and its 200-day moving average is $184.29.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its earnings results on Thursday, May 1st. The business services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.07. The firm had revenue of $1.90 billion for the quarter, compared to the consensus estimate of $1.94 billion. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business's revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.11 earnings per share. As a group, research analysts expect that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Company Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.