Contravisory Investment Management Inc. Decreases Stake in Thomson Reuters Co. (NYSE:TRI)

Contravisory Investment Management Inc. cut its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 5.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,906 shares of the business services provider’s stock after selling 178 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Thomson Reuters were worth $466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of TRI. Asset Dedication LLC raised its holdings in shares of Thomson Reuters by 125.0% during the third quarter. Asset Dedication LLC now owns 234 shares of the business services provider’s stock valued at $40,000 after purchasing an additional 130 shares during the last quarter. Clean Yield Group bought a new position in shares of Thomson Reuters during the 3rd quarter valued at $42,000. Ashton Thomas Securities LLC purchased a new position in shares of Thomson Reuters in the 3rd quarter worth $47,000. Exchange Traded Concepts LLC increased its position in Thomson Reuters by 104.4% during the third quarter. Exchange Traded Concepts LLC now owns 327 shares of the business services provider’s stock valued at $56,000 after acquiring an additional 167 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Thomson Reuters by 67.6% in the third quarter. Nisa Investment Advisors LLC now owns 496 shares of the business services provider’s stock worth $85,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 17.31% of the company’s stock.

Thomson Reuters Trading Up 2.0 %

Shares of Thomson Reuters stock opened at $157.55 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.16. The firm has a market cap of $70.89 billion, a price-to-earnings ratio of 31.01, a PEG ratio of 4.89 and a beta of 0.72. Thomson Reuters Co. has a twelve month low of $145.27 and a twelve month high of $176.03. The business has a 50-day moving average price of $163.60 and a 200-day moving average price of $165.54.

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

Thomson Reuters Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Thursday, November 21st were given a $0.54 dividend. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.16 annualized dividend and a yield of 1.37%. This is a positive change from Thomson Reuters’s previous quarterly dividend of $0.15. Thomson Reuters’s dividend payout ratio (DPR) is currently 42.52%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TRI. Wells Fargo & Company started coverage on shares of Thomson Reuters in a research note on Tuesday, November 26th. They issued an “equal weight” rating and a $165.00 price objective on the stock. CIBC increased their price target on shares of Thomson Reuters from $164.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday, January 3rd. StockNews.com raised shares of Thomson Reuters from a “sell” rating to a “hold” rating in a research report on Wednesday, January 8th. Scotiabank lifted their target price on Thomson Reuters from $182.00 to $187.00 and gave the company a “sector outperform” rating in a research report on Wednesday, November 6th. Finally, Royal Bank of Canada upped their price target on Thomson Reuters from $171.00 to $173.00 and gave the stock a “sector perform” rating in a research report on Wednesday, November 6th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $176.10.

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.