Clean Yield Group Has $4.31 Million Position in TELUS Co. (NYSE:TU)

Clean Yield Group lowered its position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 19.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 256,910 shares of the Wireless communications provider's stock after selling 63,386 shares during the quarter. TELUS accounts for approximately 1.4% of Clean Yield Group's investment portfolio, making the stock its 23rd largest position. Clean Yield Group's holdings in TELUS were worth $4,311,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Canada Pension Plan Investment Board increased its holdings in shares of TELUS by 11.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,252,092 shares of the Wireless communications provider's stock valued at $20,050,000 after buying an additional 126,488 shares in the last quarter. Toronto Dominion Bank raised its position in shares of TELUS by 5.4% during the second quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider's stock worth $188,835,000 after purchasing an additional 636,845 shares during the period. Vanguard Group Inc. lifted its holdings in shares of TELUS by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 22,834,015 shares of the Wireless communications provider's stock valued at $406,217,000 after purchasing an additional 1,044,988 shares during the last quarter. Van ECK Associates Corp acquired a new position in shares of TELUS in the 1st quarter valued at $1,991,000. Finally, Virtu Financial LLC purchased a new position in TELUS in the 4th quarter worth about $376,000. 49.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TU has been the subject of several research analyst reports. Canaccord Genuity Group downgraded TELUS from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. StockNews.com raised shares of TELUS from a "sell" rating to a "hold" rating in a research report on Friday, September 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $26.00.

TELUS Stock Performance

TU traded down $0.10 on Tuesday, hitting $16.16. The company had a trading volume of 1,244,707 shares, compared to its average volume of 2,096,042. TELUS Co. has a 1-year low of $14.63 and a 1-year high of $19.14. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.61. The company's fifty day moving average price is $16.43 and its 200 day moving average price is $16.12. The stock has a market cap of $23.95 billion, a price-to-earnings ratio of 41.44, a price-to-earnings-growth ratio of 2.49 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. The business had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.70 billion. TELUS had a net margin of 3.87% and a return on equity of 8.50%. During the same quarter last year, the company posted $0.14 earnings per share. Equities analysts predict that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were paid a $0.284 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $1.14 dividend on an annualized basis and a yield of 7.03%. This is a boost from TELUS's previous quarterly dividend of $0.28. TELUS's payout ratio is presently 294.88%.

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.