Thomson Reuters Corp $TRI Position Trimmed by Louisbourg Investments Inc.

Key Points

• Louisbourg Investments cut its Thomson Reuters position by 20.7% in the third quarter, selling 18,471 shares and retaining 70,964 shares valued at approximately $6.9 million.
• Analysts maintain a “Moderate Buy” consensus on TRI, with 11 Buy ratings and six Holds and an average price target of $130.90, above the reported share price of $112.82.
• Thomson Reuters exceeded quarterly expectations with EPS of $0.99 and revenue of $1.93 billion; revenue rose 9.5% year over year. The company also paid a quarterly dividend of $0.655 per share, representing a 2.3% annualized yield.

Louisbourg Investments Inc. reduced its position in Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 20.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,964 shares of the company's stock after selling 18,471 shares during the quarter. Thomson Reuters accounts for approximately 1.2% of Louisbourg Investments Inc.'s holdings, making the stock its 29th biggest holding. Louisbourg Investments Inc.'s holdings in Thomson Reuters were worth $6,926,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in TRI. Net Worth Advisory Group bought a new position in Thomson Reuters in the third quarter worth approximately $329,000. TD Waterhouse Canada Inc. raised its position in Thomson Reuters by 13.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 1,468,484 shares of the company's stock valued at $143,304,000 after purchasing an additional 171,375 shares in the last quarter. Triasima Portfolio Management inc. bought a new stake in Thomson Reuters during the 3rd quarter valued at $2,613,000. Assenagon Asset Management S.A. raised its position in Thomson Reuters by 17.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 4,997 shares of the company's stock valued at $487,000 after purchasing an additional 748 shares in the last quarter. Finally, Ninety One UK Ltd bought a new stake in Thomson Reuters during the 3rd quarter valued at $391,000. Institutional investors own 17.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TRI shares. Barclays cut their price target on Thomson Reuters from $140.00 to $130.00 and set an "overweight" rating on the stock in a research note on Tuesday, September 8th. Morgan Stanley set a $110.00 price objective on Thomson Reuters and gave the company an "equal weight" rating in a report on Tuesday, October 13th. Royal Bank Of Canada upped 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. Scotiabank reiterated a "sector outperform" rating and set a $135.00 target price on shares of Thomson Reuters in a report on Thursday, August 6th. Finally, Scotia cut their target price on shares of Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating on the stock in a research report on Thursday, August 6th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $130.90.

Thomson Reuters Price Performance

Shares of TRI stock opened at $112.82 on Wednesday. Thomson Reuters Corp has a fifty-two week low of $76.28 and a fifty-two week high of $164.30. The firm has a market capitalization of $48.88 billion, a price-to-earnings ratio of 25.95, a PEG ratio of 2.07 and a beta of 0.75. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51. The stock's 50-day simple moving average is $102.38 and its 200-day simple moving average is $94.14.

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, topping analysts' consensus estimates of $0.96 by $0.03. The company had revenue of $1.93 billion during the quarter, compared to analysts' expectations of $1.89 billion. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. Thomson Reuters's revenue for the quarter was up 9.5% on a year-over-year basis. During the same period last year, the business earned $0.87 EPS. As a group, equities analysts forecast that Thomson Reuters Corp will post 4.48 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.6550 per share. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.3%. Thomson Reuters's dividend payout ratio (DPR) is presently 69.68%.

About Thomson Reuters

Thomson Reuters is a global provider of information, software and technology solutions for professionals and institutions. The company serves customers in the legal, tax, accounting, audit, corporate, government, risk and compliance sectors, as well as the media industry. Its offerings combine authoritative content with workflow tools, data analytics and artificial intelligence.

Key products and services include Westlaw and Practical Law for legal research and practice management; Checkpoint and ONESOURCE for tax and accounting professionals; Confirmation for audit-related workflows; and CoCounsel, an AI-assisted legal technology platform.

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