TD Waterhouse Canada Inc. Decreases Stock Holdings in Thomson Reuters Corp $TRI

Key Points

• TD Waterhouse Canada reduced its Thomson Reuters stake by 3.6% in the second quarter, selling 48,614 shares and retaining 1.30 million shares valued at approximately $110.3 million. Institutional and hedge fund investors own 17.31% of the company.
• Thomson Reuters reported quarterly earnings of $0.99 per share and revenue of $1.93 billion, beating analyst expectations; revenue increased 9.5% year over year. Shares were recently up 5.6% to $111.76.
• The company declared a quarterly dividend of $0.655 per share, equal to an annualized $2.62 payout and a 2.3% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $131.57.

TD Waterhouse Canada Inc. lowered its holdings in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,297,109 shares of the company's stock after selling 48,614 shares during the quarter. TD Waterhouse Canada Inc. owned 0.30% of Thomson Reuters worth $110,279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. TD Asset Management Inc raised its position in shares of Thomson Reuters by 0.7% during the 4th quarter. TD Asset Management Inc now owns 4,664,372 shares of the company's stock valued at $616,342,000 after buying an additional 33,418 shares in the last quarter. TLT Family Holdco ULC bought a new position in shares of Thomson Reuters in the 2nd quarter valued at about $865,442,000. SEG Family Corp. purchased a new position in Thomson Reuters in the second quarter worth about $659,930,000. Morgan Stanley grew its position in Thomson Reuters by 31.2% in the fourth quarter. Morgan Stanley now owns 2,802,312 shares of the company's stock worth $369,597,000 after acquiring an additional 665,743 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Thomson Reuters by 9.9% during the fourth quarter. Invesco Ltd. now owns 2,476,965 shares of the company's stock worth $326,687,000 after acquiring an additional 223,722 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Thomson Reuters Stock Up 5.6%

Shares of NASDAQ TRI opened at $111.76 on Friday. Thomson Reuters Corp has a 1 year low of $76.28 and a 1 year high of $180.00. The firm has a 50-day simple moving average of $97.89 and a two-hundred day simple moving average of $92.99. The company has a market cap of $48.68 billion, a P/E ratio of 29.75, a PEG ratio of 2.04 and a beta of 0.74. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.51 and a quick ratio of 0.51.

Thomson Reuters (NASDAQ:TRI - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.03. Thomson Reuters had a return on equity of 15.82% and a net margin of 21.22%.The firm had revenue of $1.93 billion for the quarter, compared to analysts' expectations of $1.89 billion. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The company's quarterly revenue was up 9.5% on a year-over-year basis. Research analysts anticipate that Thomson Reuters Corp will post 4.45 earnings per share for the current year.

Thomson Reuters Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $0.655 per share. This represents a $2.62 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, August 19th. Thomson Reuters's dividend payout ratio (DPR) is 69.68%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TRI. Barclays restated an "overweight" rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research report on Friday, May 8th. Canaccord Genuity Group cut their target price on Thomson Reuters from $134.00 to $132.50 and set a "buy" rating on the stock in a research report on Thursday, August 6th. Wells Fargo & Company set a $85.00 price target on Thomson Reuters and gave the company an "equal weight" rating in a report on Tuesday, June 30th. Bank of America lowered their price target on Thomson Reuters from $115.00 to $98.00 and set a "neutral" rating for the company in a research report on Tuesday, May 19th. Finally, Royal Bank Of Canada lifted their price objective on shares of Thomson Reuters from $121.00 to $124.00 and gave the stock an "outperform" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $131.57.

Thomson Reuters Company Profile

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada's Thomson Corporation (founded in 1934) and the UK's Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.

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