CIBC Asset Management Inc cut its position in TELUS Co. (NYSE:TU - Free Report) TSE: T by 6.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,718,784 shares of the Wireless communications provider's stock after selling 1,380,520 shares during the period. TELUS accounts for 0.8% of CIBC Asset Management Inc's holdings, making the stock its 29th largest position. CIBC Asset Management Inc owned about 1.25% of TELUS worth $253,756,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Barclays PLC boosted its stake in shares of TELUS by 38.5% in the third quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider's stock worth $7,839,000 after acquiring an additional 129,934 shares during the last quarter. Ontario Teachers Pension Plan Board boosted its stake in shares of TELUS by 159.6% in the third quarter. Ontario Teachers Pension Plan Board now owns 140,539 shares of the Wireless communications provider's stock worth $2,360,000 after acquiring an additional 86,393 shares during the last quarter. FMR LLC lifted its position in TELUS by 192.0% during the third quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider's stock worth $22,257,000 after buying an additional 872,235 shares in the last quarter. Entropy Technologies LP purchased a new position in TELUS during the third quarter worth approximately $945,000. Finally, Nicola Wealth Management LTD. lifted its position in TELUS by 35.7% during the third quarter. Nicola Wealth Management LTD. now owns 1,060,819 shares of the Wireless communications provider's stock worth $17,801,000 after buying an additional 279,000 shares in the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.
TELUS Trading Up 1.1 %
NYSE:TU traded up $0.17 on Thursday, reaching $15.41. The company's stock had a trading volume of 2,882,936 shares, compared to its average volume of 3,794,463. TELUS Co. has a 12-month low of $13.24 and a 12-month high of $18.16. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. The firm has a market cap of $23.11 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 5.07 and a beta of 0.75. The stock has a 50 day moving average price of $14.19 and a 200 day moving average price of $15.42.
TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a return on equity of 9.07% and a net margin of 4.85%. During the same quarter in the previous year, the business earned $0.10 EPS. On average, equities analysts anticipate that TELUS Co. will post 0.71 EPS for the current fiscal year.
TELUS Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be issued a $0.2829 dividend. The ex-dividend date is Tuesday, March 11th. This represents a $1.13 annualized dividend and a dividend yield of 7.34%. TELUS's dividend payout ratio is presently 232.65%.
Analysts Set New Price Targets
TU has been the topic of a number of analyst reports. Morgan Stanley initiated coverage on TELUS in a research report on Monday, December 16th. They set an "equal weight" rating on the stock. National Bank Financial downgraded TELUS from an "outperform" rating to a "sector perform" rating in a research report on Friday, December 13th. StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Scotiabank upgraded TELUS from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $26.00.
View Our Latest Report on TELUS
About TELUS
(
Free Report)
TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.
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