Caisse DE Depot ET Placement DU Quebec Takes Position in TEGNA Inc. $TGNA

Key Points

• Caisse de Depot et Placement du Quebec has made a new $1.06 million investment in TEGNA Inc. by acquiring 58,000 shares during the latest quarter.
• TEGNA recently announced a quarterly dividend of $0.125 per share, representing an annualized yield of 2.4%, set to be paid on October 1st.
• The company's earnings report revealed an EPS of $0.44, surpassing analysts' estimates of $0.38, though revenue declined by 5% year-over-year.

Caisse DE Depot ET Placement DU Quebec bought a new stake in TEGNA Inc. (NYSE:TGNA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 58,000 shares of the company's stock, valued at approximately $1,057,000.

A number of other large investors also recently modified their holdings of the stock. Jane Street Group LLC lifted its holdings in shares of TEGNA by 193.0% in the first quarter. Jane Street Group LLC now owns 573,255 shares of the company's stock valued at $10,445,000 after purchasing an additional 377,578 shares in the last quarter. AlphaQuest LLC bought a new position in shares of TEGNA in the first quarter valued at approximately $383,000. Algert Global LLC lifted its holdings in shares of TEGNA by 26.4% in the first quarter. Algert Global LLC now owns 106,830 shares of the company's stock valued at $1,946,000 after purchasing an additional 22,310 shares in the last quarter. Fox Run Management L.L.C. bought a new position in shares of TEGNA in the first quarter valued at approximately $650,000. Finally, Neuberger Berman Group LLC lifted its holdings in shares of TEGNA by 9.3% in the first quarter. Neuberger Berman Group LLC now owns 23,320 shares of the company's stock valued at $425,000 after purchasing an additional 1,986 shares in the last quarter. Institutional investors own 92.19% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TGNA. Guggenheim restated a "neutral" rating and issued a $19.00 target price on shares of TEGNA in a report on Friday, August 22nd. Wells Fargo & Company reaffirmed an "overweight" rating and set a $22.00 price target (up from $21.00) on shares of TEGNA in a research report on Sunday, August 10th. JPMorgan Chase & Co. decreased their price target on TEGNA from $19.00 to $18.00 and set a "neutral" rating for the company in a research report on Wednesday, May 21st. Finally, Benchmark decreased their price target on TEGNA from $21.00 to $20.00 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.75.

TEGNA Stock Performance

NYSE:TGNA traded down $0.03 during trading hours on Tuesday, reaching $21.18. The stock had a trading volume of 2,186,697 shares, compared to its average volume of 2,002,613. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a 50 day simple moving average of $18.09 and a 200 day simple moving average of $17.41. TEGNA Inc. has a 12-month low of $13.44 and a 12-month high of $21.35. The stock has a market cap of $3.41 billion, a P/E ratio of 7.62 and a beta of 0.28.

TEGNA (NYSE:TGNA - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.06. TEGNA had a return on equity of 16.20% and a net margin of 14.99%.The business had revenue of $675.05 million during the quarter, compared to the consensus estimate of $673.92 million. During the same period last year, the business posted $0.50 earnings per share. The business's revenue for the quarter was down 5.0% on a year-over-year basis. TEGNA has set its Q3 2025 guidance at EPS. On average, research analysts forecast that TEGNA Inc. will post 3.02 EPS for the current fiscal year.

TEGNA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Friday, September 5th will be given a $0.125 dividend. The ex-dividend date is Friday, September 5th. This represents a $0.50 annualized dividend and a dividend yield of 2.4%. TEGNA's payout ratio is 17.99%.

TEGNA Profile

TEGNA Inc, a media company, provides broadcast advertising and marketing products and services for businesses. The company operates 47 television stations in 39 markets of the United States that produce local programming, such as news, sports, and entertainment. It offers local and national non-political advertising; political advertising; production of programming from third parties; production of advertising materials; and digital marketing services, as well as advertising services on the stations' Websites, tablets, and mobile products.