Nordea Investment Management AB Has $994,000 Stake in TELUS Co. (NYSE:TU)

Nordea Investment Management AB lessened its stake in TELUS Co. (NYSE:TU - Free Report) TSE: T by 84.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,753 shares of the Wireless communications provider's stock after selling 344,418 shares during the period. Nordea Investment Management AB's holdings in TELUS were worth $994,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in TU. Capital Research Global Investors increased its position in TELUS by 215.8% during the 4th quarter. Capital Research Global Investors now owns 22,214,210 shares of the Wireless communications provider's stock worth $395,314,000 after purchasing an additional 15,179,110 shares during the period. TD Asset Management Inc increased its position in TELUS by 18.4% during the 4th quarter. TD Asset Management Inc now owns 40,669,392 shares of the Wireless communications provider's stock worth $727,275,000 after purchasing an additional 6,334,692 shares during the period. Clearbridge Investments LLC acquired a new position in TELUS during the 4th quarter worth approximately $109,327,000. Norges Bank acquired a new position in TELUS during the 4th quarter worth approximately $82,775,000. Finally, The Manufacturers Life Insurance Company increased its position in TELUS by 15.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider's stock worth $511,646,000 after purchasing an additional 3,860,487 shares during the period. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Price Performance

Shares of TU traded up $0.14 on Friday, reaching $15.54. The stock had a trading volume of 1,775,013 shares, compared to its average volume of 2,334,923. TELUS Co. has a twelve month low of $14.63 and a twelve month high of $19.51. The company has a quick ratio of 0.70, a current ratio of 0.75 and a debt-to-equity ratio of 1.42. The firm has a 50-day moving average of $15.96 and a 200 day moving average of $16.72. The firm has a market capitalization of $22.94 billion, a PE ratio of 39.85, a PEG ratio of 2.29 and a beta of 0.73.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its earnings results on Thursday, May 9th. The Wireless communications provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. TELUS had a return on equity of 7.90% and a net margin of 3.73%. The firm had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.73 billion. Sell-side analysts expect that TELUS Co. will post 0.75 EPS for the current year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Monday, June 10th were paid a $0.282 dividend. The ex-dividend date was Monday, June 10th. This represents a $1.13 dividend on an annualized basis and a yield of 7.26%. This is a positive change from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio is presently 292.32%.

Analyst Ratings Changes

Several research firms have issued reports on TU. StockNews.com cut TELUS from a "hold" rating to a "sell" rating in a research report on Friday, June 14th. Scotiabank restated a "sector perform" rating and issued a $26.00 price target (down previously from $28.00) on shares of TELUS in a report on Monday, March 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $27.72.

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.