TD Waterhouse Canada Inc. Cuts Stock Position in Thomson Reuters Co. $TRI

Key Points

• TD Waterhouse Canada Inc. reduced its stake in Thomson Reuters by 14.1% in Q3, selling 33,224 shares and ending the quarter with 202,084 shares valued at about $30.88 million.
• Thomson Reuters topped Q3 expectations with $0.85 EPS versus $0.81 expected and reported revenue of $1.80 billion, up 3.4% year-over-year.
• The company pays a quarterly dividend of $0.595 (annualized $2.38, roughly a 2.0% yield), and analysts carry a Moderate Buy consensus with an average price target of $188.55.

TD Waterhouse Canada Inc. decreased its stake in shares of Thomson Reuters Co. (NYSE:TRI - Free Report) TSE: TRI by 14.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 202,084 shares of the business services provider's stock after selling 33,224 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Thomson Reuters were worth $30,877,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. AustralianSuper Pty Ltd bought a new position in shares of Thomson Reuters during the third quarter valued at $19,964,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Thomson Reuters during the 3rd quarter valued at about $18,088,000. J. Safra Sarasin Holding AG purchased a new stake in Thomson Reuters during the 3rd quarter valued at about $868,000. Intact Investment Management Inc. bought a new stake in Thomson Reuters during the 3rd quarter valued at about $3,485,000. Finally, Cullen Frost Bankers Inc. raised its holdings in Thomson Reuters by 50.0% in the third quarter. Cullen Frost Bankers Inc. now owns 249 shares of the business services provider's stock worth $39,000 after buying an additional 83 shares during the last quarter. 17.31% of the stock is owned by institutional investors.

Thomson Reuters Price Performance

Shares of Thomson Reuters stock opened at $117.28 on Thursday. The stock has a market cap of $52.19 billion, a P/E ratio of 23.98, a P/E/G ratio of 5.67 and a beta of 0.80. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The stock's fifty day moving average is $129.67 and its 200 day moving average is $155.43. Thomson Reuters Co. has a one year low of $116.86 and a one year high of $218.42.

Thomson Reuters (NYSE:TRI - Get Free Report) TSE: TRI last issued its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.85 EPS for the quarter, topping analysts' consensus estimates of $0.81 by $0.04. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.The business had revenue of $1.80 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same quarter in the prior year, the business posted $0.80 earnings per share. The business's quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current year.

Thomson Reuters Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th were paid a dividend of $0.595 per share. The ex-dividend date was Tuesday, November 18th. This represents a $2.38 dividend on an annualized basis and a dividend yield of 2.0%. Thomson Reuters's payout ratio is 61.18%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TRI. Huber Research upgraded shares of Thomson Reuters to an "overweight" rating in a report on Monday, October 20th. Canaccord Genuity Group set a $174.00 target price on Thomson Reuters and gave the company a "buy" rating in a research note on Tuesday, November 4th. Scotiabank reissued an "outperform" rating and issued a $189.00 target price (down previously from $200.00) on shares of Thomson Reuters in a report on Wednesday, November 5th. Morgan Stanley set a $165.00 price target on Thomson Reuters and gave the company an "equal weight" rating in a report on Wednesday, December 17th. Finally, The Goldman Sachs Group set a $186.00 price objective on Thomson Reuters and gave the company a "buy" rating in a research report on Wednesday, October 15th. Ten research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $188.55.

Thomson Reuters Company Profile

Thomson Reuters NYSE: TRI is a multinational information and media company that provides content, technology and services to professionals in the legal, tax & accounting, compliance, risk, corporate and media sectors. Headquartered in Toronto, Canada, the company combines news and editorial content from the Reuters news agency with specialist workflow platforms and databases designed to support decision-making and regulatory compliance across industries worldwide.

The company's product portfolio spans legal research and workflow tools, tax and accounting software, regulatory and risk management solutions, and real-time news and data services.

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