TELUS Co. (NYSE:TU) Shares Sold by Stifel Financial Corp

Stifel Financial Corp trimmed its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 38.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,262 shares of the Wireless communications provider's stock after selling 50,068 shares during the period. Stifel Financial Corp's holdings in TELUS were worth $1,330,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TU. 1832 Asset Management L.P. grew its stake in TELUS by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider's stock valued at $578,253,000 after acquiring an additional 2,365,753 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of TELUS by 9.9% in the second quarter. Fiera Capital Corp now owns 16,670,713 shares of the Wireless communications provider's stock valued at $252,468,000 after purchasing an additional 1,501,742 shares in the last quarter. TD Asset Management Inc grew its position in shares of TELUS by 3.0% in the second quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider's stock valued at $631,310,000 after purchasing an additional 1,208,720 shares during the last quarter. FMR LLC increased its stake in shares of TELUS by 192.0% during the 3rd quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider's stock worth $22,257,000 after purchasing an additional 872,235 shares in the last quarter. Finally, Toronto Dominion Bank raised its position in shares of TELUS by 5.4% during the 2nd 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 last quarter. Hedge funds and other institutional investors own 49.40% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on TU. StockNews.com downgraded TELUS from a "hold" rating to a "sell" rating in a research report on Thursday, November 21st. National Bank Financial lowered TELUS from an "outperform" rating to a "sector perform" rating in a research note on Friday, December 13th. Morgan Stanley started coverage on shares of TELUS in a research note on Monday, December 16th. They issued an "equal weight" rating for the company. Finally, Scotiabank raised shares of TELUS from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, October 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $26.00.

TELUS Trading Up 0.8 %

Shares of TU traded up $0.11 during mid-day trading on Friday, hitting $13.86. The company had a trading volume of 4,457,324 shares, compared to its average volume of 2,412,308. TELUS Co. has a 1-year low of $13.60 and a 1-year high of $18.55. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 1.50. The business's 50-day simple moving average is $15.49 and its 200-day simple moving average is $15.88. The stock has a market cap of $20.79 billion, a PE ratio of 29.49, a P/E/G ratio of 2.10 and a beta of 0.73.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its quarterly earnings data on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, beating 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 analysts' expectations of $3.69 billion. During the same period in the previous year, the company earned $0.19 EPS. The business's quarterly revenue was up 1.8% compared to the same quarter last year. Sell-side analysts forecast 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 Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a $0.297 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 8.57%. This is an increase from TELUS's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, December 11th. TELUS's dividend payout ratio (DPR) is 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.