PCJ Investment Counsel Ltd. Decreases Holdings in Thomson Reuters Co. $TRI

PCJ Investment Counsel Ltd. decreased its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,560 shares of the business services provider’s stock after selling 386 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in Thomson Reuters were worth $1,521,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. raised its holdings in Thomson Reuters by 772.2% during the first quarter. Cullen Frost Bankers Inc. now owns 157 shares of the business services provider’s stock worth $27,000 after purchasing an additional 139 shares in the last quarter. Curio Wealth LLC lifted its stake in Thomson Reuters by 16,200.0% in the second quarter. Curio Wealth LLC now owns 163 shares of the business services provider’s stock valued at $33,000 after buying an additional 162 shares during the last quarter. Westside Investment Management Inc. purchased a new stake in Thomson Reuters in the second quarter valued at approximately $34,000. Ameritas Advisory Services LLC purchased a new stake in Thomson Reuters in the 2nd quarter valued at $37,000. Finally, SBI Securities Co. Ltd. increased its stake in Thomson Reuters by 41.3% in the first quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 69 shares during the period. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Trading Down 1.0%

NYSE:TRI opened at $137.57 on Friday. Thomson Reuters Co. has a 1 year low of $136.28 and a 1 year high of $218.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.94 and a current ratio of 1.02. The stock has a fifty day moving average price of $160.16 and a two-hundred day moving average price of $180.80. The stock has a market capitalization of $61.45 billion, a price-to-earnings ratio of 28.13, a PEG ratio of 5.67 and a beta of 0.74.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last posted its quarterly earnings results on Tuesday, November 4th. The business services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. Thomson Reuters had a net margin of 30.45% and a return on equity of 14.62%. The business had revenue of $1.80 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same period in the prior year, the company posted $0.80 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Thomson Reuters has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Thomson Reuters Co. will post 3.89 earnings per share for the current fiscal year.

Thomson Reuters Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 18th will be paid a $0.595 dividend. This represents a $2.38 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Tuesday, November 18th. Thomson Reuters’s dividend payout ratio (DPR) is presently 61.18%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wells Fargo & Company upgraded shares of Thomson Reuters from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $187.00 to $212.00 in a research note on Tuesday, September 9th. JPMorgan Chase & Co. decreased their price objective on Thomson Reuters from $178.00 to $160.00 and set a “neutral” rating for the company in a research report on Wednesday. Huber Research upgraded Thomson Reuters to an “overweight” rating in a research note on Monday, October 20th. Morgan Stanley set a $172.00 price target on Thomson Reuters in a research note on Tuesday. Finally, The Goldman Sachs Group set a $186.00 price objective on shares of Thomson Reuters and gave the company a “buy” rating in a research note on Wednesday, October 15th. Ten investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $195.27.

Thomson Reuters Company 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.