TELUS Co. (NYSE:TU) Stake Lowered by Federated Hermes Inc.

Federated Hermes Inc. reduced its position in TELUS Co. (NYSE:TU - Free Report) TSE: T by 6.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,216,405 shares of the Wireless communications provider's stock after selling 156,932 shares during the period. Federated Hermes Inc. owned about 0.15% of TELUS worth $33,556,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TU. Blue Trust Inc. grew its position in shares of TELUS by 60.4% in the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider's stock valued at $41,000 after purchasing an additional 954 shares during the period. Gulf International Bank UK Ltd grew its position in shares of TELUS by 39.8% in the first quarter. Gulf International Bank UK Ltd now owns 2,752 shares of the Wireless communications provider's stock valued at $44,000 after purchasing an additional 784 shares during the period. UniSuper Management Pty Ltd purchased a new stake in shares of TELUS in the first quarter valued at $58,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of TELUS in the first quarter valued at $71,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of TELUS in the second quarter valued at $123,000. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Stock Down 0.2 %

Shares of TU traded down $0.04 during midday trading on Friday, reaching $16.93. 2,574,249 shares of the company were exchanged, compared to its average volume of 1,989,696. The stock has a 50-day moving average price of $16.11 and a 200-day moving average price of $16.17. The company has a market cap of $25.09 billion, a price-to-earnings ratio of 43.41, a P/E/G ratio of 2.58 and a beta of 0.74. TELUS Co. has a 1-year low of $14.63 and a 1-year high of $19.14. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.46.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.16 by $0.09. TELUS had a return on equity of 8.50% and a net margin of 3.87%. The business had revenue of $3.64 billion for the quarter, compared to analysts' expectations of $3.70 billion. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Research analysts expect that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be issued a $0.284 dividend. This is a positive change from TELUS's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 6.71%. The ex-dividend date of this dividend is Tuesday, September 10th. TELUS's payout ratio is currently 294.88%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on TU. StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a report on Friday, September 6th. Canaccord Genuity Group cut TELUS from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, TELUS presently has a consensus rating of "Hold" and a consensus target price of $27.33.

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.