Connor Clark & Lunn Investment Management Ltd. Trims Stake in TELUS Co. (NYSE:TU)

Connor Clark & Lunn Investment Management Ltd. trimmed its position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 4.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,755,771 shares of the Wireless communications provider's stock after selling 245,558 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.39% of TELUS worth $96,553,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TU. Fairscale Capital LLC purchased a new position in shares of TELUS during the 2nd quarter worth about $27,000. Blue Trust Inc. grew its stake in shares of TELUS by 60.4% during the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider's stock worth $41,000 after purchasing an additional 954 shares during the period. UniSuper Management Pty Ltd acquired a new position in shares of TELUS during the 1st quarter worth about $58,000. Acadian Asset Management LLC bought a new stake in shares of TELUS during the second quarter worth approximately $123,000. Finally, Trust Co. of Vermont boosted its stake in shares of TELUS by 19.0% in the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider's stock valued at $128,000 after purchasing an additional 1,218 shares in the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Stock Up 0.1 %

Shares of NYSE TU traded up $0.01 during mid-day trading on Wednesday, reaching $15.51. The company had a trading volume of 2,209,084 shares, compared to its average volume of 2,302,215. The stock has a market cap of $23.14 billion, a P/E ratio of 32.99, a PEG ratio of 2.17 and a beta of 0.75. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The firm has a 50 day simple moving average of $16.17 and a two-hundred day simple moving average of $16.09. TELUS Co. has a 52-week low of $14.63 and a 52-week high of $19.14.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm's revenue for the quarter was up 1.8% compared to the same quarter last year. Sell-side analysts predict that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a $0.297 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This is an increase from TELUS's previous quarterly dividend of $0.28. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.66%. TELUS's dividend payout ratio (DPR) is 253.19%.

Analysts Set New Price Targets

TU has been the topic of a number of analyst reports. Scotiabank upgraded shares of TELUS from a "sector perform" rating to a "sector outperform" rating in a report on Monday, October 28th. StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a research note on Friday, September 6th. Finally, Canaccord Genuity Group downgraded shares of TELUS from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, TELUS presently has an average rating of "Hold" and a consensus price target of $26.00.

TELUS Company Profile

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.