Rockefeller Capital Management L.P. Sells 32,966 Shares of TELUS Co. (NYSE:TU)

Rockefeller Capital Management L.P. cut its holdings in TELUS Co. (NYSE:TU - Free Report) TSE: T by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 238,358 shares of the Wireless communications provider's stock after selling 32,966 shares during the period. Rockefeller Capital Management L.P.'s holdings in TELUS were worth $4,000,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Gold Investment Management Ltd. increased its position in shares of TELUS by 0.7% during the second quarter. Gold Investment Management Ltd. now owns 93,275 shares of the Wireless communications provider's stock valued at $1,412,000 after buying an additional 641 shares during the period. Walter Public Investments Inc. grew its stake in TELUS by 1.8% during the second quarter. Walter Public Investments Inc. now owns 37,453 shares of the Wireless communications provider's stock valued at $567,000 after acquiring an additional 653 shares in the last quarter. Blue Trust Inc. increased its holdings in TELUS by 60.4% during the 2nd quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider's stock worth $41,000 after acquiring an additional 954 shares during the period. Trust Co. of Vermont lifted its stake in TELUS by 19.0% in the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider's stock worth $128,000 after purchasing an additional 1,218 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its holdings in TELUS by 2.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 77,198 shares of the Wireless communications provider's stock valued at $1,297,000 after purchasing an additional 1,500 shares during the period. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TU has been the topic of several research analyst reports. StockNews.com cut shares of TELUS from a "hold" rating to a "sell" rating in a report on Thursday, November 21st. Scotiabank upgraded TELUS from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, TELUS currently has an average rating of "Hold" and an average price target of $26.00.

TELUS Price Performance

TU stock traded down $0.04 during midday trading on Friday, reaching $15.72. The company had a trading volume of 2,923,050 shares, compared to its average volume of 2,332,884. The firm has a 50-day moving average price of $15.86 and a 200-day moving average price of $16.01. The company has a market capitalization of $23.58 billion, a P/E ratio of 33.43, a P/E/G ratio of 2.26 and a beta of 0.73. TELUS Co. has a 1 year low of $14.63 and a 1 year high of $19.01. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.63.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The company had revenue of $5.10 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period in the previous year, the business earned $0.19 earnings per share. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. On average, research analysts anticipate that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a dividend of $0.297 per share. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.56%. This is a boost from TELUS's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. TELUS's dividend payout ratio (DPR) is currently 253.19%.

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.