Quantinno Capital Management LP Increases Stock Holdings in Thomson Reuters Corp $TRI

Quantinno Capital Management LP boosted its stake in Thomson Reuters Corp (NASDAQ:TRI) by 88.3% in the first quarter, Holdings Channel reports. The fund owned 90,480 shares of the company’s stock after buying an additional 42,428 shares during the quarter. Quantinno Capital Management LP’s holdings in Thomson Reuters were worth $8,141,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of TRI. Empowered Funds LLC acquired a new position in shares of Thomson Reuters during the fourth quarter worth $30,000. Timmons Wealth Management LLC acquired a new stake in Thomson Reuters during the 4th quarter valued at $42,000. Montag A & Associates Inc. purchased a new stake in Thomson Reuters during the 4th quarter worth $43,000. J.Safra Asset Management Corp purchased a new stake in Thomson Reuters during the 4th quarter worth $56,000. Finally, Fifth Third Bancorp lifted its holdings in Thomson Reuters by 135.8% in the 1st quarter. Fifth Third Bancorp now owns 823 shares of the company’s stock worth $74,000 after buying an additional 474 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Argus began coverage on Thomson Reuters in a research note on Wednesday, April 22nd. They set a “hold” rating for the company. Bank of America cut their price target on Thomson Reuters from $115.00 to $98.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 19th. Barclays restated an “overweight” rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a research note on Friday, May 8th. Weiss Ratings lowered Thomson Reuters from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, June 23rd. Finally, Scotiabank set a $138.00 target price on Thomson Reuters and gave the company a “sector outperform” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $143.92.

Thomson Reuters Stock Up 7.4%

TRI stock opened at $109.15 on Wednesday. The firm has a market cap of $47.55 billion, a price-to-earnings ratio of 31.76, a PEG ratio of 1.51 and a beta of 0.75. Thomson Reuters Corp has a 1-year low of $76.28 and a 1-year high of $204.07. The firm has a fifty day moving average price of $88.27 and a two-hundred day moving average price of $93.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.60 and a quick ratio of 0.60.

Thomson Reuters (NASDAQ:TRI) last posted its quarterly earnings results on Tuesday, May 5th. The company reported $1.23 EPS for the quarter, beating the consensus estimate of $1.18 by $0.05. The business had revenue of $2.04 billion during the quarter, compared to analyst estimates of $2 billion. Thomson Reuters had a net margin of 19.93% and a return on equity of 14.99%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.12 EPS. Research analysts predict that Thomson Reuters Corp will post 4.44 EPS for the current year.

Thomson Reuters 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.