Caisse DE Depot ET Placement DU Quebec Lowers Position in Thomson Reuters Co. $TRI

Key Points

• Caisse DE Depot ET Placement DU Quebec has reduced its stake in Thomson Reuters Co. by 40.3%, holding 23,580 shares worth approximately $4.07 million after selling 15,900 shares in the first quarter.
• Thomson Reuters reported a quarterly revenue of $1.81 billion, surpassing analysts' expectations, and had earnings per share of $0.87, beating estimates of $0.83.
• The company declared a quarterly dividend of $0.595 per share, which is scheduled to be paid on September 10, representing an annual yield of 1.3%.

Caisse DE Depot ET Placement DU Quebec cut its stake in Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 40.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,580 shares of the business services provider's stock after selling 15,900 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in Thomson Reuters were worth $4,069,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TRI. Brighton Jones LLC bought a new stake in shares of Thomson Reuters in the fourth quarter worth approximately $448,000. Dimensional Fund Advisors LP grew its stake in shares of Thomson Reuters by 2.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 218,090 shares of the business services provider's stock worth $34,979,000 after acquiring an additional 5,446 shares during the period. Northern Trust Corp grew its stake in shares of Thomson Reuters by 50.9% in the fourth quarter. Northern Trust Corp now owns 202,554 shares of the business services provider's stock worth $32,486,000 after acquiring an additional 68,314 shares during the period. Schonfeld Strategic Advisors LLC grew its stake in shares of Thomson Reuters by 261.9% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 54,540 shares of the business services provider's stock worth $8,747,000 after acquiring an additional 39,470 shares during the period. Finally, Jane Street Group LLC grew its stake in shares of Thomson Reuters by 68.6% in the fourth quarter. Jane Street Group LLC now owns 18,211 shares of the business services provider's stock worth $2,921,000 after acquiring an additional 7,410 shares during the period. 17.31% of the stock is currently owned by institutional investors.

Thomson Reuters Price Performance

NYSE:TRI traded down $0.65 during trading hours on Monday, hitting $177.61. 1,132,455 shares of the stock traded hands, compared to its average volume of 894,063. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a 1 year low of $151.60 and a 1 year high of $218.42. The company has a market cap of $80.04 billion, a price-to-earnings ratio of 36.32, a price-to-earnings-growth ratio of 5.67 and a beta of 0.77. The stock has a 50 day moving average price of $192.48 and a 200 day moving average price of $185.55.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings results on Wednesday, August 6th. The business services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter in the previous year, the firm earned $0.85 earnings per share. The company's revenue for the quarter was up 2.6% on a year-over-year basis. Sell-side analysts forecast that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th will be issued a dividend of $0.595 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $2.38 annualized dividend and a yield of 1.3%. Thomson Reuters's payout ratio is currently 65.75%.

Wall Street Analysts Forecast Growth

TRI has been the subject of a number of research analyst reports. National Bankshares reiterated an "outperform" rating on shares of Thomson Reuters in a research note on Thursday, July 10th. CIBC upgraded shares of Thomson Reuters from a "neutral" rating to an "outperform" rating in a research report on Tuesday, August 19th. Scotiabank upgraded shares of Thomson Reuters from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $188.00 to $200.00 in a research report on Wednesday, August 6th. TD Securities upgraded shares of Thomson Reuters from a "hold" rating to a "buy" rating and boosted their target price for the company from $275.00 to $285.00 in a research report on Thursday. Finally, Canaccord Genuity Group boosted their target price on shares of Thomson Reuters from $181.00 to $182.00 and gave the company a "hold" rating in a research report on Thursday, August 7th. Six investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $201.90.

Thomson Reuters 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.