Burgundy Asset Management Ltd. Makes New Investment in Thomson Reuters Co. (NYSE:TRI)

Burgundy Asset Management Ltd. bought a new position in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,593 shares of the business services provider’s stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TRI. Rothschild Investment LLC acquired a new stake in Thomson Reuters during the second quarter worth $25,000. EverSource Wealth Advisors LLC boosted its position in shares of Thomson Reuters by 76.9% during the first quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after buying an additional 80 shares during the period. Gold Investment Management Ltd. purchased a new position in shares of Thomson Reuters during the fourth quarter worth $41,000. Principal Securities Inc. purchased a new position in shares of Thomson Reuters during the fourth quarter worth $48,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Thomson Reuters during the second quarter worth $73,000. Institutional investors and hedge funds own 17.31% of the company’s stock.

Thomson Reuters Stock Up 0.1 %

Shares of NYSE TRI opened at $168.25 on Thursday. The company has a market capitalization of $75.66 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 5.82 and a beta of 0.73. 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 business has a 50-day moving average of $165.27 and a two-hundred day moving average of $163.42. Thomson Reuters Co. has a 1 year low of $117.46 and a 1 year high of $176.03.

Thomson Reuters (NYSE:TRI) (TSE:TRI) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.03. The company had revenue of $1.74 billion during the quarter, compared to the consensus estimate of $1.75 billion. Thomson Reuters had a return on equity of 15.22% and a net margin of 33.65%. Thomson Reuters’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. On average, analysts forecast that Thomson Reuters Co. will post 3.71 earnings per share for the current fiscal year.

Thomson Reuters Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.146 per share. This represents a $0.58 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Thursday, August 15th. Thomson Reuters’s dividend payout ratio (DPR) is 41.14%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on Thomson Reuters from $163.00 to $164.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Royal Bank of Canada lowered their price target on 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. Scotiabank upgraded Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and raised their price target for the stock from $164.00 to $182.00 in a research report on Tuesday, August 27th. Finally, National Bank Financial upgraded Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research report on Monday, September 9th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $173.45.

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.