Envestnet Asset Management Inc. Has $5.41 Million Position in TELUS Co. (NYSE:TU)

Envestnet Asset Management Inc. trimmed its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 15.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 398,602 shares of the Wireless communications provider's stock after selling 75,339 shares during the quarter. Envestnet Asset Management Inc.'s holdings in TELUS were worth $5,405,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc boosted its holdings in TELUS by 195,100.0% during the fourth quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider's stock valued at $26,000 after acquiring an additional 1,951 shares during the period. Avior Wealth Management LLC lifted its position in shares of TELUS by 1,756.0% during the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock worth $65,000 after purchasing an additional 4,548 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in TELUS during the 4th quarter valued at approximately $142,000. Triasima Portfolio Management inc. acquired a new stake in TELUS in the 4th quarter valued at approximately $146,000. Finally, Leo Wealth LLC bought a new position in TELUS in the 4th quarter worth approximately $279,000. 49.40% of the stock is currently owned by institutional investors.

TELUS Price Performance

NYSE TU traded down $0.06 on Thursday, hitting $15.04. 1,746,222 shares of the company were exchanged, compared to its average volume of 2,857,760. TELUS Co. has a 1-year low of $13.24 and a 1-year high of $17.27. The firm has a 50 day moving average of $14.87 and a two-hundred day moving average of $14.92. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. The company has a market cap of $22.77 billion, a P/E ratio of 30.69, a P/E/G ratio of 5.18 and a beta of 0.70.

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 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. TELUS had a net margin of 4.85% and a return on equity of 9.07%. The business had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.64 billion. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, equities analysts predict that TELUS Co. will post 0.71 EPS for the current year.

TELUS Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were issued a $0.2829 dividend. This represents a $1.13 annualized dividend and a yield of 7.52%. The ex-dividend date of this dividend was Tuesday, March 11th. TELUS's dividend payout ratio is 226.53%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TU. Bank of America cut TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Cormark lowered shares of TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. Finally, StockNews.com upgraded shares of TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold".

About TELUS

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.