TD Waterhouse Canada Inc. Acquires 171,375 Shares of Thomson Reuters Corp $TRI

Key Points

• TD Waterhouse Canada increased its Thomson Reuters stake by 13.2%, acquiring 171,375 shares to hold 1.47 million shares worth approximately $143.3 million. Institutional investors and hedge funds collectively own 17.31% of the company.
• Thomson Reuters reported quarterly revenue of $1.93 billion and adjusted earnings of $0.99 per share, exceeding analyst estimates, while revenue grew 9.5% year over year.
• Shares recently traded at $109.01, and the company maintains a quarterly dividend of $0.655 per share, representing a 2.4% yield. Analysts have a consensus “Moderate Buy” rating with an average price target of $130.97.

TD Waterhouse Canada Inc. increased its holdings in Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 13.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,468,484 shares of the company's stock after acquiring an additional 171,375 shares during the period. TD Waterhouse Canada Inc. owned approximately 0.34% of Thomson Reuters worth $143,304,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Triasima Portfolio Management inc. acquired a new position in Thomson Reuters in the third quarter valued at about $2,613,000. Assenagon Asset Management S.A. boosted its stake in Thomson Reuters by 17.6% during the third quarter. Assenagon Asset Management S.A. now owns 4,997 shares of the company's stock worth $487,000 after buying an additional 748 shares during the period. Ninety One UK Ltd purchased a new position in Thomson Reuters during the third quarter worth about $391,000. Burkett Asset Management Ltd increased its position in shares of Thomson Reuters by 1.6% during the third quarter. Burkett Asset Management Ltd now owns 15,627 shares of the company's stock valued at $1,525,000 after acquiring an additional 253 shares during the last quarter. Finally, GK Wealth Management LLC acquired a new stake in shares of Thomson Reuters during the third quarter valued at about $53,000. Institutional investors and hedge funds own 17.31% of the company's stock.

Thomson Reuters Trading Up 1.0%

TRI traded up $1.12 during mid-day trading on Friday, hitting $109.01. 3,078,569 shares of the stock were exchanged, compared to its average volume of 1,436,176. The firm's fifty day moving average is $102.14 and its two-hundred day moving average is $93.85. Thomson Reuters Corp has a 1-year low of $76.28 and a 1-year high of $164.30. The company has a market cap of $47.23 billion, a PE ratio of 29.02, a PEG ratio of 2.07 and a beta of 0.75. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.03. The company had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.89 billion. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%. Thomson Reuters's revenue was up 9.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. Equities analysts forecast that Thomson Reuters Corp will post 4.48 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a dividend of $0.6550 per share. This represents a $2.62 annualized dividend and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, August 19th. Thomson Reuters's dividend payout ratio is currently 69.68%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TRI shares. Canaccord Genuity Group reduced their price target on shares of Thomson Reuters from $134.00 to $132.50 and set a "buy" rating on the stock in a research note on Thursday, August 6th. Royal Bank Of Canada increased their price objective on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an "outperform" rating in a research report on Thursday, August 6th. TD Securities reaffirmed a "buy" rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Wells Fargo & Company set a $85.00 target price on shares of Thomson Reuters and gave the company an "equal weight" rating in a report on Tuesday, June 30th. Finally, Scotiabank reiterated a "sector outperform" rating and issued a $135.00 target price on shares of Thomson Reuters in a report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Thomson Reuters presently has a consensus rating of "Moderate Buy" and a consensus price target of $130.97.

Thomson Reuters Company Profile

Thomson Reuters Corporation is a global content and technology company that provides trusted information, software, and services to professionals and organizations. Its offerings are designed to support legal, tax, accounting, corporate, government, and media customers with research, workflow management, compliance, and decision-making.

The company serves legal professionals through products such as Westlaw, Practical Law, and CoCounsel, its generative artificial intelligence legal assistant.

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