Connor Clark & Lunn Investment Management Ltd. trimmed its position in TELUS Co. (NYSE:TU - Free Report) TSE: T by 46.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,089,646 shares of the Wireless communications provider's stock after selling 2,666,125 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.21% of TELUS worth $41,838,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of TU. Versant Capital Management Inc raised its holdings in TELUS by 195,100.0% in the fourth quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider's stock valued at $26,000 after buying an additional 1,951 shares during the period. Avior Wealth Management LLC raised its stake in shares of TELUS by 1,756.0% in the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock valued at $65,000 after acquiring an additional 4,548 shares during the period. Triasima Portfolio Management inc. acquired a new position in shares of TELUS during the 4th quarter valued at $146,000. Orion Portfolio Solutions LLC boosted its position in TELUS by 25.6% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,270 shares of the Wireless communications provider's stock worth $256,000 after purchasing an additional 3,110 shares during the period. Finally, Tidal Investments LLC acquired a new stake in TELUS in the 3rd quarter valued at $320,000. 49.40% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages have commented on TU. National Bank Financial cut TELUS from an "outperform" rating to a "sector perform" rating in a research note on Friday, December 13th. Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Morgan Stanley initiated coverage on shares of TELUS in a research report on Monday, December 16th. They issued an "equal weight" rating for the company. Finally, StockNews.com upgraded shares of TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $26.00.
Get Our Latest Report on TELUS
TELUS Stock Down 0.0 %
TU traded down $0.01 on Friday, reaching $15.00. The company's stock had a trading volume of 2,707,203 shares, compared to its average volume of 2,699,671. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. TELUS Co. has a 1 year low of $13.24 and a 1 year high of $17.27. The business's 50 day moving average is $14.76 and its 200 day moving average is $15.35. The stock has a market cap of $22.70 billion, a price-to-earnings ratio of 30.60, a price-to-earnings-growth ratio of 5.18 and a beta of 0.72.
TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same quarter last year, the company earned $0.10 earnings per share. As a group, research analysts forecast that TELUS Co. will post 0.71 EPS for the current fiscal year.
TELUS Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.2829 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.13 annualized dividend and a dividend yield of 7.55%. TELUS's payout ratio is 226.53%.
TELUS Company Profile
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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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