Thomson Reuters Co. (NYSE:TRI) is Triasima Portfolio Management inc.’s 8th Largest Position

Triasima Portfolio Management inc. grew its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 17.0% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 207,167 shares of the business services provider’s stock after buying an additional 30,026 shares during the quarter. Thomson Reuters makes up about 3.2% of Triasima Portfolio Management inc.’s portfolio, making the stock its 8th largest holding. Triasima Portfolio Management inc.’s holdings in Thomson Reuters were worth $34,905,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in Thomson Reuters in the 2nd quarter valued at about $25,000. EverSource Wealth Advisors LLC grew its position in shares of Thomson Reuters by 76.9% in the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 80 shares in the last quarter. Gold Investment Management Ltd. acquired a new stake in shares of Thomson Reuters in the fourth quarter valued at approximately $41,000. Principal Securities Inc. purchased a new position in Thomson Reuters during the fourth quarter worth approximately $48,000. Finally, Northwest Investment Counselors LLC acquired a new position in Thomson Reuters during the first quarter worth $78,000. 17.31% of the stock is currently owned by hedge funds and other institutional investors.

Thomson Reuters Trading Down 1.0 %

Shares of TRI stock traded down $1.76 during trading hours on Friday, hitting $166.24. The company had a trading volume of 183,012 shares, compared to its average volume of 319,291. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $74.74 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 6.04 and a beta of 0.73. The company’s fifty day moving average is $164.81 and its 200 day moving average is $162.69. Thomson Reuters Co. has a fifty-two week low of $117.46 and a fifty-two week high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last released its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. The company had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.75 billion. During the same period in the prior year, the firm earned $0.84 earnings per share. The firm’s revenue was up 5.6% compared to the same quarter last year. Research analysts expect that Thomson Reuters Co. will post 3.72 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.146 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.58 annualized dividend and a dividend yield of 0.35%. Thomson Reuters’s dividend payout ratio is presently 41.14%.

Analysts Set New Price Targets

A number of analysts have issued reports on TRI shares. Scotiabank raised Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their target price for the stock from $164.00 to $182.00 in a research note on Tuesday, August 27th. Royal Bank of Canada cut their price objective on shares of Thomson Reuters from $170.00 to $168.00 and set a “sector perform” rating for the company in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their target price on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Nine equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Thomson Reuters currently has a consensus rating of “Hold” and an average target price of $173.45.

About Thomson Reuters

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.