Commonwealth Equity Services LLC Reduces Holdings in Thomson Reuters Co. (NYSE:TRI)

Posted by Defense World Staff on May 23rd, 2023

Commonwealth Equity Services LLC decreased its holdings in shares of Thomson Reuters Co. (NYSE:TRI – Get Rating) (TSE:TRI) by 3.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 7,682 shares of the business services provider’s stock after selling 257 shares during the period. Commonwealth Equity Services LLC’s holdings in Thomson Reuters were worth $876,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Canada Pension Plan Investment Board boosted its position in Thomson Reuters by 3,557.3% in the third quarter. Canada Pension Plan Investment Board now owns 407,500 shares of the business services provider’s stock valued at $42,053,000 after buying an additional 396,358 shares during the last quarter. K.J. Harrison & Partners Inc purchased a new stake in Thomson Reuters in the fourth quarter valued at approximately $3,268,065,000. Park Avenue Securities LLC boosted its position in Thomson Reuters by 12.4% in the fourth quarter. Park Avenue Securities LLC now owns 2,833 shares of the business services provider’s stock valued at $323,000 after buying an additional 313 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Thomson Reuters by 12.3% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 594,367 shares of the business services provider’s stock valued at $67,854,000 after buying an additional 65,177 shares during the last quarter. Finally, AlphaCrest Capital Management LLC lifted its holdings in Thomson Reuters by 8.8% in the third quarter. AlphaCrest Capital Management LLC now owns 27,811 shares of the business services provider’s stock valued at $2,854,000 after acquiring an additional 2,251 shares during the period. Hedge funds and other institutional investors own 20.84% of the company’s stock.

Thomson Reuters Stock Performance

Shares of NYSE TRI opened at $126.11 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $59.39 billion, a price-to-earnings ratio of 52.33, a PEG ratio of 3.12 and a beta of 0.58. The stock’s fifty day simple moving average is $127.52 and its 200 day simple moving average is $120.47. Thomson Reuters Co. has a 52-week low of $94.56 and a 52-week high of $133.55.

Thomson Reuters (NYSE:TRI – Get Rating) (TSE:TRI) last released its quarterly earnings data on Tuesday, May 2nd. The business services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.04. The firm had revenue of $1.74 billion during the quarter, compared to analysts’ expectations of $1.73 billion. Thomson Reuters had a return on equity of 10.55% and a net margin of 17.20%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.66 earnings per share. As a group, sell-side analysts forecast that Thomson Reuters Co. will post 3.31 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, May 18th will be issued a dividend of $0.362 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $1.45 annualized dividend and a yield of 1.15%. Thomson Reuters’s dividend payout ratio (DPR) is currently 81.33%.

Analyst Ratings Changes

Several research analysts recently commented on the company. TD Securities downgraded Thomson Reuters from a “buy” rating to a “hold” rating in a research note on Thursday, February 16th. BMO Capital Markets boosted their target price on Thomson Reuters from $161.00 to $182.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 14th. StockNews.com started coverage on Thomson Reuters in a research note on Thursday, May 18th. They set a “hold” rating for the company. Credit Suisse Group lifted their price target on Thomson Reuters from $138.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 4th. Finally, Morgan Stanley lifted their price target on Thomson Reuters from $111.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, February 10th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Thomson Reuters presently has a consensus rating of “Hold” and an average target price of $139.73.

Thomson Reuters Company Profile

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Thomson Reuters Corp. engages in the provision of news and information for professional markets. It operates through the following segments: Legal Professionals, Corporates, Tax and Accounting Professionals, Reuters News, and Global Print. The Legal Professionals segment provides research and workflow products to law firms and government.