Moors & Cabot Inc. Reduces Position in Thomson Reuters Co. (NYSE:TRI)

Moors & Cabot Inc. lowered its position in Thomson Reuters Co. (NYSE:TRI) (TSE:TRI) by 3.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 2,428 shares of the business services provider’s stock after selling 98 shares during the period. Moors & Cabot Inc.’s holdings in Thomson Reuters were worth $420,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Rhumbline Advisers boosted its stake in Thomson Reuters by 1.5% during the 1st quarter. Rhumbline Advisers now owns 4,456 shares of the business services provider’s stock worth $770,000 after purchasing an additional 68 shares during the period. SBI Securities Co. Ltd. raised its holdings in shares of Thomson Reuters by 41.3% in the first quarter. SBI Securities Co. Ltd. now owns 236 shares of the business services provider’s stock valued at $41,000 after buying an additional 69 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Thomson Reuters by 25.7% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 411 shares of the business services provider’s stock worth $71,000 after buying an additional 84 shares during the period. Sara Bay Financial grew its holdings in shares of Thomson Reuters by 3.3% during the first quarter. Sara Bay Financial now owns 3,275 shares of the business services provider’s stock worth $560,000 after buying an additional 104 shares during the last quarter. Finally, Spire Wealth Management increased its position in Thomson Reuters by 5.3% in the 1st quarter. Spire Wealth Management now owns 2,074 shares of the business services provider’s stock valued at $358,000 after acquiring an additional 105 shares during the period. 17.31% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. JPMorgan Chase & Co. increased their price objective on Thomson Reuters from $177.00 to $178.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Bank of America started coverage on shares of Thomson Reuters in a research report on Thursday, April 10th. They issued a “neutral” rating and a $180.00 price objective on the stock. Scotiabank reissued a “sector perform” rating and issued a $188.00 price objective on shares of Thomson Reuters in a research note on Friday, May 2nd. Royal Bank Of Canada raised their target price on shares of Thomson Reuters from $185.00 to $215.00 and gave the stock a “sector perform” rating in a research note on Monday, July 28th. Finally, CIBC boosted their price target on shares of Thomson Reuters from $174.00 to $201.00 and gave the stock an “outperformer” rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Thomson Reuters currently has an average rating of “Hold” and an average target price of $193.00.

Thomson Reuters Price Performance

TRI stock opened at $203.82 on Tuesday. The firm has a 50 day moving average of $199.62 and a 200-day moving average of $184.60. The company has a market cap of $91.85 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 5.67 and a beta of 0.77. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of 0.15. Thomson Reuters Co. has a 12-month low of $150.01 and a 12-month high of $218.42.

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.