Thomson Reuters Corp $TRI Stock: Davis Rea LTD. Reduces Position

Davis Rea LTD. cut its position in Thomson Reuters Corp (NASDAQ:TRI) by 7.7% during the third quarter, Holdings Channel reports. The firm owned 114,455 shares of the company’s stock after selling 9,557 shares during the period. Thomson Reuters makes up approximately 3.2% of Davis Rea LTD.’s portfolio, making the stock its 11th largest position. Davis Rea LTD.’s holdings in Thomson Reuters were worth $11,140,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Bank of America Corp DE lifted its holdings in shares of Thomson Reuters by 48.7% during the first quarter. Bank of America Corp DE now owns 1,627,069 shares of the company’s stock worth $146,404,000 after purchasing an additional 532,803 shares during the period. First Trust Advisors LP lifted its stake in Thomson Reuters by 33.3% during the 1st quarter. First Trust Advisors LP now owns 1,588,756 shares of the company’s stock valued at $142,956,000 after acquiring an additional 397,150 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Thomson Reuters by 65.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,500,365 shares of the company’s stock valued at $135,297,000 after acquiring an additional 591,642 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Thomson Reuters in the 2nd quarter valued at $107,223,000. Finally, Cibc World Market Inc. acquired a new stake in shares of Thomson Reuters in the second quarter worth $100,711,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Stock Performance

TRI traded up $0.89 on Tuesday, reaching $105.14. The stock had a trading volume of 740,391 shares, compared to its average volume of 2,162,137. Thomson Reuters Corp has a 12-month low of $76.28 and a 12-month high of $164.30. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.12. The business’s 50-day moving average price is $101.79 and its two-hundred day moving average price is $93.41. The company has a market cap of $45.55 billion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 1.98 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI) last posted its earnings results on Wednesday, August 5th. The company reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.03. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period in the prior year, the company posted $0.87 EPS. The company’s revenue for the quarter was up 9.5% on a year-over-year basis. Sell-side analysts forecast that Thomson Reuters Corp will post 4.48 earnings per share for the current year.

Thomson Reuters Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Investors of record on Wednesday, August 19th were issued a $0.6550 dividend. The ex-dividend date of this dividend was Wednesday, August 19th. This represents a $2.62 dividend on an annualized basis and a yield of 2.5%. Thomson Reuters’s dividend payout ratio is presently 69.68%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TRI shares. Royal Bank Of Canada increased their price target on Thomson Reuters from $121.00 to $124.00 and gave the stock an “outperform” rating in a research report on Thursday, August 6th. TD Securities reissued a “buy” rating on shares of Thomson Reuters in a report on Thursday, August 6th. Scotia lowered 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. Canaccord Genuity Group dropped their target price on Thomson Reuters from $134.00 to $132.50 and set a “buy” rating on the stock in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $130.97.

Thomson Reuters Company Profile

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.