Wellington Shields Capital Management LLC Acquires New Stake in Thomson Reuters Co. $TRI

Wellington Shields Capital Management LLC acquired a new stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,000 shares of the business services provider’s stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. PFG Investments LLC increased its holdings in shares of Thomson Reuters by 2.2% in the 2nd quarter. PFG Investments LLC now owns 2,660 shares of the business services provider’s stock worth $535,000 after purchasing an additional 57 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Thomson Reuters by 1.5% in the 1st quarter. Rhumbline Advisers now owns 4,456 shares of the business services provider’s stock worth $770,000 after purchasing an additional 68 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Thomson Reuters by 41.3% in the 1st quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider’s stock worth $41,000 after purchasing an additional 69 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Thomson Reuters by 0.8% in the 2nd quarter. Signaturefd LLC now owns 8,426 shares of the business services provider’s stock worth $1,695,000 after purchasing an additional 70 shares in the last quarter. Finally, DAVENPORT & Co LLC increased its holdings in shares of Thomson Reuters by 3.6% in the 2nd quarter. DAVENPORT & Co LLC now owns 2,362 shares of the business services provider’s stock worth $474,000 after purchasing an additional 82 shares in the last quarter. Institutional investors own 17.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. CIBC set a $198.00 target price on Thomson Reuters and gave the stock an “outperform” rating in a report on Wednesday, October 29th. National Bankshares reissued an “outperform” rating on shares of Thomson Reuters in a report on Thursday, July 10th. Huber Research raised Thomson Reuters to an “overweight” rating in a report on Monday, October 20th. Canaccord Genuity Group lifted their price objective on Thomson Reuters from $181.00 to $182.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Finally, TD Securities raised Thomson Reuters from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $275.00 to $285.00 in a report on Thursday, August 28th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $200.00.

Thomson Reuters Stock Performance

Shares of TRI opened at $155.72 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.02 and a quick ratio of 0.94. Thomson Reuters Co. has a one year low of $149.47 and a one year high of $218.42. The firm has a market capitalization of $69.55 billion, a P/E ratio of 31.84, a PEG ratio of 5.67 and a beta of 0.74. The business has a fifty day moving average of $162.93 and a 200 day moving average of $181.90.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last issued its quarterly earnings data on Wednesday, August 6th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.83 by $0.04. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.79 billion. Thomson Reuters had a return on equity of 14.62% and a net margin of 30.45%.Thomson Reuters’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.85 earnings per share. As a group, sell-side analysts anticipate that Thomson Reuters Co. will post 3.89 EPS for the current year.

Thomson Reuters Profile

Thomson Reuters Corporation engages in the provision of business information services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in five segments: Legal Professionals, Corporates, Tax & Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment offers research and workflow products focusing on legal research and integrated legal workflow solutions that combine content, tools, and analytics to law firms and governments.