Scotia Capital Inc. lessened its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 8.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,722,270 shares of the Wireless communications provider's stock after selling 1,658,361 shares during the quarter. TELUS accounts for about 1.3% of Scotia Capital Inc.'s investment portfolio, making the stock its 23rd largest holding. Scotia Capital Inc. owned approximately 1.18% of TELUS worth $240,005,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in the business. Bank of Nova Scotia boosted its holdings in TELUS by 28.3% in the 4th quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider's stock worth $409,662,000 after acquiring an additional 6,659,564 shares during the period. Vanguard Group Inc. boosted its stake in shares of TELUS by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider's stock valued at $349,841,000 after purchasing an additional 903,921 shares during the period. Invesco Ltd. increased its stake in TELUS by 3.1% during the 4th quarter. Invesco Ltd. now owns 10,993,662 shares of the Wireless communications provider's stock worth $149,074,000 after buying an additional 326,531 shares during the period. Norges Bank acquired a new position in TELUS in the 4th quarter worth $70,212,000. Finally, Scheer Rowlett & Associates Investment Management Ltd. boosted its position in TELUS by 5.2% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,403,521 shares of the Wireless communications provider's stock valued at $46,088,000 after buying an additional 169,577 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company's stock.
TELUS Stock Performance
NYSE:TU traded down $0.21 during trading hours on Tuesday, reaching $14.61. 1,209,317 shares of the stock were exchanged, compared to its average volume of 2,846,362. The stock has a market capitalization of $22.12 billion, a P/E ratio of 29.82, a P/E/G ratio of 5.18 and a beta of 0.70. The firm has a 50 day simple moving average of $14.84 and a 200-day simple moving average of $14.97. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $17.27.
TELUS (NYSE:TU - Get Free Report) TSE: T last announced its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. TELUS had a return on equity of 9.07% and a net margin of 4.85%. The firm had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.64 billion. During the same period last year, the business posted $0.10 earnings per share. As a group, sell-side analysts forecast that TELUS Co. will post 0.71 earnings per share for the current fiscal year.
TELUS Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were given a dividend of $0.2829 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.74%. The ex-dividend date was Tuesday, March 11th. TELUS's dividend payout ratio is presently 226.53%.
Analyst Ratings Changes
TU has been the topic of several recent analyst reports. Morgan Stanley assumed coverage on TELUS in a research note on Monday, December 16th. They issued an "equal weight" rating on the stock. Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Bank of America downgraded shares of TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. Finally, StockNews.com raised shares of TELUS from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, TELUS has a consensus rating of "Hold".
Get Our Latest Analysis on TELUS
About TELUS
(
Free Report)
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.
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