TELUS Co. (NYSE:TU) Stock Position Cut by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 3.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,699,885 shares of the Wireless communications provider's stock after selling 66,926 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.11% of TELUS worth $23,050,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Groupama Asset Managment increased its position in shares of TELUS by 684.4% in the 4th quarter. Groupama Asset Managment now owns 66,966 shares of the Wireless communications provider's stock worth $908,000 after purchasing an additional 58,429 shares during the last quarter. Headlands Technologies LLC bought a new stake in TELUS in the fourth quarter valued at about $374,000. Geode Capital Management LLC raised its stake in TELUS by 29.8% during the fourth quarter. Geode Capital Management LLC now owns 3,032,404 shares of the Wireless communications provider's stock valued at $42,389,000 after buying an additional 696,744 shares in the last quarter. Wellington Management Group LLP lifted its holdings in TELUS by 52.1% during the 4th quarter. Wellington Management Group LLP now owns 390,142 shares of the Wireless communications provider's stock worth $5,287,000 after buying an additional 133,636 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its holdings in TELUS by 1,532.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 20,410 shares of the Wireless communications provider's stock worth $284,000 after buying an additional 19,160 shares during the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Stock Performance

Shares of TU traded up $0.15 during midday trading on Friday, hitting $14.57. 4,639,881 shares of the stock traded hands, compared to its average volume of 2,849,616. The business's 50 day moving average price is $14.83 and its two-hundred day moving average price is $15.00. The firm has a market capitalization of $22.05 billion, a PE ratio of 29.72, a price-to-earnings-growth ratio of 5.18 and a beta of 0.70. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. TELUS Co. has a 1-year low of $13.24 and a 1-year high of $17.27.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. TELUS had a net margin of 4.85% and a return on equity of 9.07%. The firm had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same period in the previous year, the business posted $0.10 EPS. Equities research analysts predict that TELUS Co. will post 0.71 EPS for the current fiscal year.

TELUS Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were given a $0.2829 dividend. This represents a $1.13 annualized dividend and a yield of 7.77%. The ex-dividend date of this dividend was Tuesday, March 11th. TELUS's dividend payout ratio is currently 226.53%.

Analysts Set New Price Targets

Several research firms recently issued reports on TU. Morgan Stanley started coverage on TELUS in a research report on Monday, December 16th. They set an "equal weight" rating on the stock. Cormark cut shares of TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. Bank of America lowered shares of TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. National Bank Financial lowered shares of TELUS from an "outperform" rating to a "sector perform" rating in a research note on Friday, December 13th. Finally, StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold".

TELUS 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.