Guardian Capital LP Trims Stock Holdings in Thomson Reuters Co. $TRI

Guardian Capital LP lowered its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 95.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,265 shares of the business services provider’s stock after selling 156,920 shares during the period. Guardian Capital LP’s holdings in Thomson Reuters were worth $1,284,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. STF Management LP purchased a new position in shares of Thomson Reuters in the third quarter valued at $948,000. AustralianSuper Pty Ltd bought a new position in Thomson Reuters in the 3rd quarter worth about $19,964,000. Victory Capital Management Inc. boosted its stake in Thomson Reuters by 161.2% in the 3rd quarter. Victory Capital Management Inc. now owns 289,747 shares of the business services provider’s stock worth $45,006,000 after purchasing an additional 178,831 shares during the period. 111 Capital purchased a new position in Thomson Reuters during the 3rd quarter valued at about $2,019,000. Finally, Rafferty Asset Management LLC purchased a new position in Thomson Reuters during the 3rd quarter valued at about $11,702,000. 17.31% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TRI. Canadian Imperial Bank of Commerce set a $183.00 price target on Thomson Reuters and gave the company an “outperformer” rating in a research report on Friday, January 16th. BMO Capital Markets set a $165.00 price objective on shares of Thomson Reuters in a research report on Friday, February 6th. Canaccord Genuity Group reduced their price objective on shares of Thomson Reuters from $174.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. UBS Group set a $131.50 target price on shares of Thomson Reuters in a report on Friday, February 6th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Thomson Reuters from $160.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, February 6th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Thomson Reuters has an average rating of “Moderate Buy” and a consensus price target of $156.42.

Thomson Reuters Stock Performance

NYSE:TRI opened at $111.46 on Friday. The stock has a market cap of $49.60 billion, a P/E ratio of 22.79, a PEG ratio of 5.67 and a beta of 0.81. The company has a quick ratio of 0.94, a current ratio of 1.02 and a debt-to-equity ratio of 0.15. The business’s 50-day moving average price is $109.24 and its two-hundred day moving average price is $137.06. Thomson Reuters Co. has a twelve month low of $79.71 and a twelve month high of $218.42.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Thursday, February 5th. The business services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.Thomson Reuters’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.01 earnings per share. As a group, equities analysts predict that Thomson Reuters Co. will post 3.89 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 17th will be given a dividend of $0.655 per share. The ex-dividend date is Tuesday, February 17th. This is a boost from Thomson Reuters’s previous quarterly dividend of $0.60. This represents a $2.62 annualized dividend and a yield of 2.4%. Thomson Reuters’s dividend payout ratio (DPR) is presently 78.68%.

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.