Canada Pension Plan Investment Board Invests $107.22 Million in Thomson Reuters Corp $TRI

Canada Pension Plan Investment Board bought a new position in shares of Thomson Reuters Corp (NASDAQ:TRI) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,314,063 shares of the company’s stock, valued at approximately $107,223,000.

A number of other large investors have also added to or reduced their stakes in the business. Legal & General Group Plc bought a new position in Thomson Reuters during the second quarter worth $74,310,000. The Manufacturers Life Insurance Company bought a new position in shares of Thomson Reuters in the second quarter valued at about $102,215,000. ICONIQ Capital LLC acquired a new stake in shares of Thomson Reuters during the 2nd quarter worth about $1,033,000. Cibc World Market Inc. acquired a new stake in shares of Thomson Reuters during the 2nd quarter worth about $100,711,000. Finally, Sanctuary Advisors LLC bought a new stake in shares of Thomson Reuters during the 2nd quarter worth about $663,000. Institutional investors own 17.31% of the company’s stock.

Thomson Reuters Trading Down 1.8%

Shares of Thomson Reuters stock opened at $102.45 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a 50-day moving average of $94.57 and a 200-day moving average of $92.26. Thomson Reuters Corp has a 52-week low of $76.28 and a 52-week high of $180.00. The stock has a market cap of $44.63 billion, a PE ratio of 27.27, a PEG ratio of 1.53 and a beta of 0.75.

Thomson Reuters (NASDAQ:TRI) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.03. Thomson Reuters had a net margin of 21.22% and a return on equity of 15.82%. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.89 billion. During the same period last year, the firm earned $0.87 earnings per share. Thomson Reuters’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Thomson Reuters Corp will post 4.45 EPS for the current year.

Thomson Reuters Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 19th will be given a dividend of $0.655 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Wednesday, August 19th. Thomson Reuters’s dividend payout ratio is presently 69.68%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TRI shares. Canaccord Genuity Group decreased their price target on shares of Thomson Reuters from $134.00 to $132.50 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Scotia cut their price objective on shares of Thomson Reuters from $138.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Thursday, August 6th. Barclays restated an “overweight” rating and set a $130.00 price objective (down from $170.00) on shares of Thomson Reuters in a report on Friday, May 8th. Wells Fargo & Company set a $85.00 target price on Thomson Reuters and gave the company an “equal weight” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings upgraded Thomson Reuters from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.83.

About Thomson Reuters

Thomson Reuters is a global provider of information and technology solutions for professional markets, including financial services, legal, tax and accounting, and media industries. The company delivers a range of data, analytics and software tools designed to help customers make informed decisions, manage risk and stay compliant with evolving regulations. Its key offerings include the Eikon financial data platform, Westlaw legal research service, Checkpoint tax and accounting solution, and Reuters News, which supplies real‐time journalism to media organizations worldwide.

Formed in 2008 through the merger of Canada’s Thomson Corporation (founded in 1934) and the UK’s Reuters Group (established in 1851), Thomson Reuters has built on a legacy of journalistic integrity and information innovation.