Mackenzie Financial Corp Has $635.45 Million Position in TELUS Co. (NYSE:TU)

Mackenzie Financial Corp cut its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 16.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,971,863 shares of the Wireless communications provider's stock after selling 8,020,199 shares during the quarter. TELUS accounts for 0.9% of Mackenzie Financial Corp's portfolio, making the stock its 22nd largest holding. Mackenzie Financial Corp owned 2.84% of TELUS worth $635,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Fairscale Capital LLC acquired a new stake in shares of TELUS in the second quarter worth $27,000. Blue Trust Inc. boosted 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 worth $41,000 after buying an additional 954 shares during the period. Gulf International Bank UK Ltd boosted 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 worth $44,000 after buying an additional 784 shares during the period. UniSuper Management Pty Ltd acquired a new stake in shares of TELUS in the first quarter worth $58,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of TELUS in the first quarter worth $71,000. 49.40% of the stock is owned by institutional investors.

TELUS Stock Up 0.7 %

Shares of NYSE:TU traded up $0.11 during midday trading on Friday, hitting $16.77. 1,524,121 shares of the stock were exchanged, compared to its average volume of 2,261,000. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.61 and a current ratio of 0.66. TELUS Co. has a 52-week low of $14.63 and a 52-week high of $19.14. The business's fifty day simple moving average is $16.32 and its two-hundred day simple moving average is $16.14. The company has a market capitalization of $24.85 billion, a PE ratio of 43.00, a P/E/G ratio of 2.53 and a beta of 0.74.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share (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 during the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the company earned $0.14 earnings per share. As a group, research analysts predict that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be issued a dividend of $0.284 per share. 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 6.77%. The ex-dividend date is Tuesday, September 10th. TELUS's dividend payout ratio (DPR) is 294.88%.

Wall Street Analysts Forecast Growth

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

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.