First Trust Direct Indexing L.P. Boosts Position in Thomson Reuters Co. (NYSE:TRI)

First Trust Direct Indexing L.P. grew its holdings in shares of Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 15.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,137 shares of the business services provider’s stock after purchasing an additional 690 shares during the period. First Trust Direct Indexing L.P.’s holdings in Thomson Reuters were worth $876,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Blair William & Co. IL increased its holdings in Thomson Reuters by 3.0% in the 2nd quarter. Blair William & Co. IL now owns 2,286 shares of the business services provider’s stock valued at $385,000 after purchasing an additional 66 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Thomson Reuters by 1.0% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 7,430 shares of the business services provider’s stock worth $1,252,000 after buying an additional 74 shares during the period. Sivia Capital Partners LLC grew its stake in shares of Thomson Reuters by 4.8% in the second quarter. Sivia Capital Partners LLC now owns 1,646 shares of the business services provider’s stock valued at $277,000 after buying an additional 75 shares in the last quarter. Avitas Wealth Management LLC raised its holdings in shares of Thomson Reuters by 0.4% during the 2nd quarter. Avitas Wealth Management LLC now owns 20,811 shares of the business services provider’s stock valued at $3,508,000 after buying an additional 79 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in Thomson Reuters by 76.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 184 shares of the business services provider’s stock worth $28,000 after acquiring an additional 80 shares in the last quarter. Institutional investors and hedge funds own 17.31% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on TRI. JPMorgan Chase & Co. increased their price objective on shares of Thomson Reuters from $163.00 to $164.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. National Bank Financial raised shares of Thomson Reuters from a “sector perform” rating to an “outperform” rating in a research note on Monday, September 9th. Scotiabank raised shares of Thomson Reuters from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $164.00 to $182.00 in a research report on Tuesday, August 27th. Finally, Royal Bank of Canada raised their target price on Thomson Reuters from $168.00 to $171.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 23rd. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $173.73.

Thomson Reuters Stock Performance

Shares of TRI stock opened at $164.81 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $74.14 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 5.60 and a beta of 0.73. Thomson Reuters Co. has a one year low of $122.78 and a one year high of $176.03. The company’s 50-day simple moving average is $168.83 and its 200-day simple moving average is $166.17.

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

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.