Clearbridge Investments LLC Sells 143,958 Shares of TELUS Co. (NYSE:TU)

Clearbridge Investments LLC lessened its holdings in TELUS Co. (NYSE:TU - Free Report) TSE: T by 2.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,177,634 shares of the Wireless communications provider's stock after selling 143,958 shares during the period. Clearbridge Investments LLC owned about 0.41% of TELUS worth $83,769,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in TELUS by 195,100.0% during the 4th quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider's stock worth $26,000 after acquiring an additional 1,951 shares during the last quarter. Avior Wealth Management LLC lifted its position in shares of TELUS by 1,756.0% during the fourth quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock valued at $65,000 after purchasing an additional 4,548 shares in the last quarter. Blueshift Asset Management LLC purchased a new position in TELUS during the fourth quarter worth about $142,000. Triasima Portfolio Management inc. bought a new stake in TELUS in the 4th quarter worth about $146,000. Finally, 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. Institutional investors own 49.40% of the company's stock.

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TELUS Stock Performance

Shares of TU traded down $0.05 during mid-day trading on Friday, hitting $14.49. The stock had a trading volume of 8,443,491 shares, compared to its average volume of 2,762,863. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. The firm has a market cap of $21.94 billion, a P/E ratio of 29.57, a PEG ratio of 5.18 and a beta of 0.70. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $17.27. The business has a fifty day moving average price of $14.89 and a 200-day moving average price of $15.11.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, equities research analysts expect that TELUS Co. will post 0.71 EPS for the current year.

TELUS Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.2829 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a yield of 7.81%. TELUS's payout ratio is 226.53%.

Wall Street Analyst Weigh In

TU has been the topic of a number of research analyst reports. Cormark downgraded TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. StockNews.com raised TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Bank of America lowered TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. Morgan Stanley assumed coverage on shares of TELUS in a report on Monday, December 16th. They issued an "equal weight" rating on the stock. Finally, National Bank Financial downgraded shares of TELUS from an "outperform" rating to a "sector perform" rating in a report on Friday, December 13th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, TELUS currently has a consensus rating of "Hold".

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.