Federated Hermes Inc. decreased its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 10.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,074,640 shares of the Wireless communications provider's stock after selling 233,693 shares during the period. Federated Hermes Inc. owned approximately 0.14% of TELUS worth $28,132,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in TU. FMR LLC boosted its position in 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 acquiring an additional 872,235 shares during the last quarter. Wellington Management Group LLP grew its position in TELUS by 69.2% in the third quarter. Wellington Management Group LLP now owns 256,506 shares of the Wireless communications provider's stock valued at $4,308,000 after purchasing an additional 104,939 shares in the last quarter. Orion Portfolio Solutions LLC increased its stake in TELUS by 25.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,270 shares of the Wireless communications provider's stock valued at $256,000 after buying an additional 3,110 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in TELUS during the 3rd quarter worth about $1,509,000. Finally, Barclays PLC boosted its stake in shares of TELUS by 38.5% during the 3rd quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider's stock worth $7,839,000 after buying an additional 129,934 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have weighed in on TU. Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Morgan Stanley initiated coverage on shares of TELUS in a research report on Monday, December 16th. They set an "equal weight" rating on the stock. StockNews.com raised shares of TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Bank of America cut shares of TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold".
Read Our Latest Stock Report on TELUS
TELUS Stock Performance
TU traded up $0.15 during trading on Monday, hitting $14.73. The stock had a trading volume of 537,956 shares, compared to its average volume of 3,961,857. The company has a 50 day moving average price of $14.83 and a 200-day moving average price of $14.99. The firm has a market cap of $22.30 billion, a price-to-earnings ratio of 30.06, a P/E/G ratio of 5.18 and a beta of 0.70. TELUS Co. has a one year low of $13.24 and a one year high of $17.26. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61.
TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings results 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 net margin of 4.85% and a return on equity of 9.07%. The business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the business posted $0.10 EPS. As a group, research analysts predict that TELUS Co. will post 0.71 EPS for the current 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 paid a $0.2829 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.13 annualized dividend and a dividend yield of 7.68%. TELUS's dividend payout ratio is 226.53%.
TELUS Profile
(
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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