Thomson Reuters Corp $TRI Stock: Davis Rea LTD. Trims Stake

Key Points

• Davis Rea LTD. reduced its Thomson Reuters stake by 7.7% in the third quarter, selling 9,557 shares and retaining 114,455 shares valued at approximately $11.14 million.
• Analysts maintain a generally positive outlook, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $130.97.
• Thomson Reuters exceeded quarterly earnings and revenue estimates, reporting $0.99 in EPS and $1.93 billion in revenue, while year-over-year revenue grew 9.5%; the company also pays a $2.62 annualized dividend yielding about 2.5%.

Davis Rea LTD. trimmed its position in shares of Thomson Reuters Corp (NASDAQ:TRI - Free Report) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 114,455 shares of the company's stock after selling 9,557 shares during the quarter. Thomson Reuters comprises about 3.2% of Davis Rea LTD.'s investment portfolio, making the stock its 11th largest holding. Davis Rea LTD.'s holdings in Thomson Reuters were worth $11,140,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TRI. Continuum Advisory LLC bought a new position in shares of Thomson Reuters during the 2nd quarter worth approximately $45,000. Western Wealth Management LLC purchased a new stake in Thomson Reuters during the first quarter valued at approximately $48,000. GK Wealth Management LLC acquired a new stake in Thomson Reuters in the third quarter valued at approximately $53,000. SBI Securities Co. Ltd. boosted its stake in Thomson Reuters by 66.9% in the second quarter. SBI Securities Co. Ltd. now owns 786 shares of the company's stock valued at $64,000 after acquiring an additional 315 shares in the last quarter. Finally, Fifth Third Bancorp grew its holdings in Thomson Reuters by 135.8% in the first quarter. Fifth Third Bancorp now owns 823 shares of the company's stock worth $74,000 after purchasing an additional 474 shares during the last quarter. 17.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Weiss Ratings raised Thomson Reuters from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, August 24th. Scotiabank reiterated a "sector outperform" rating and set a $135.00 price objective on shares of Thomson Reuters in a report on Thursday, August 6th. TD Securities reissued a "buy" rating on shares of Thomson Reuters in a research report on Thursday, August 6th. Scotia dropped their target price on Thomson Reuters from $138.00 to $135.00 and set a "sector outperform" rating on the stock in a research note on Thursday, August 6th. Finally, Royal Bank Of Canada upped their target price on Thomson Reuters from $121.00 to $124.00 and gave the company an "outperform" rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $130.97.

Thomson Reuters Stock Performance

Shares of Thomson Reuters stock traded up $0.89 during midday trading on Tuesday, hitting $105.14. The company had a trading volume of 740,391 shares, compared to its average volume of 2,162,137. The stock has a market cap of $45.55 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 1.98 and a beta of 0.75. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $101.79 and a 200 day simple moving average of $93.41. Thomson Reuters Corp has a 12-month low of $76.28 and a 12-month high of $164.30.

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, analysts predict that Thomson Reuters Corp will post 4.48 earnings per share for the current fiscal year.

Thomson Reuters Dividend Announcement

The business 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. This represents a $2.62 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Wednesday, August 19th. Thomson Reuters's payout ratio is presently 69.68%.

About Thomson Reuters

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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