Montrusco Bolton Investments Inc. Lowers Stake in Thomson Reuters Co. (NYSE:TRI)

Montrusco Bolton Investments Inc. lowered its stake in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 35.0% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 36,046 shares of the business services provider’s stock after selling 19,436 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Thomson Reuters were worth $6,155,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its position in shares of Thomson Reuters by 23.8% during the 1st quarter. Janus Henderson Group PLC now owns 16,770 shares of the business services provider’s stock worth $2,612,000 after purchasing an additional 3,223 shares during the period. &PARTNERS purchased a new position in shares of Thomson Reuters during the 2nd quarter worth approximately $278,000. Aigen Investment Management LP lifted its holdings in Thomson Reuters by 87.4% during the 3rd quarter. Aigen Investment Management LP now owns 7,326 shares of the business services provider’s stock worth $1,250,000 after buying an additional 3,417 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Thomson Reuters by 87.1% during the 2nd quarter. Toronto Dominion Bank now owns 505,050 shares of the business services provider’s stock worth $85,136,000 after buying an additional 235,145 shares in the last quarter. Finally, EFG Asset Management Americas Corp. lifted its holdings in Thomson Reuters by 65.4% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 16,500 shares of the business services provider’s stock worth $2,781,000 after buying an additional 6,525 shares in the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Price Performance

Shares of TRI opened at $161.20 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $167.38 and its 200-day simple moving average is $167.25. The firm has a market capitalization of $72.53 billion, a price-to-earnings ratio of 31.73, a PEG ratio of 5.47 and a beta of 0.73. Thomson Reuters Co. has a twelve month low of $138.09 and a twelve month high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its earnings results on Tuesday, November 5th. The business services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. Thomson Reuters had a net margin of 32.12% and a return on equity of 14.85%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period last year, the firm posted $0.82 EPS. Equities analysts forecast that Thomson Reuters Co. will post 3.69 EPS for the current fiscal year.

Thomson Reuters Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Thursday, November 21st will be given a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 1.34%. This is an increase from Thomson Reuters’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, November 21st. Thomson Reuters’s dividend payout ratio (DPR) is 42.52%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a report on Wednesday, November 6th. StockNews.com lowered shares of Thomson Reuters from a “hold” rating to a “sell” rating in a report on Friday. National Bank Financial upgraded shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a report on Monday, September 9th. Scotiabank increased their target price on shares of Thomson Reuters from $182.00 to $187.00 and gave the stock a “sector outperform” rating in a report on Wednesday, November 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $176.33.

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.