TELUS Corporation $TU Shares Sold by Gold Investment Management Ltd.

Gold Investment Management Ltd. lowered its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 1.3% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 111,827 shares of the Wireless communications provider’s stock after selling 1,527 shares during the quarter. Gold Investment Management Ltd.’s holdings in TELUS were worth $1,796,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of TELUS by 52.1% during the fourth quarter. Wellington Management Group LLP now owns 390,142 shares of the Wireless communications provider’s stock valued at $5,287,000 after purchasing an additional 133,636 shares during the period. NBC Securities Inc. raised its stake in shares of TELUS by 112,425.0% in the 1st quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider’s stock valued at $64,000 after acquiring an additional 4,497 shares in the last quarter. Vest Financial LLC grew its holdings in shares of TELUS by 49.1% during the 1st quarter. Vest Financial LLC now owns 95,944 shares of the Wireless communications provider’s stock worth $1,376,000 after purchasing an additional 31,604 shares in the last quarter. First Affirmative Financial Network boosted its stake in TELUS by 8.6% in the 1st quarter. First Affirmative Financial Network now owns 41,070 shares of the Wireless communications provider’s stock valued at $589,000 after buying an additional 3,244 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in TELUS by 71.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock valued at $33,000 after purchasing an additional 971 shares during the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Price Performance

Shares of NYSE TU opened at $15.83 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $24.29 billion, a PE ratio of 34.40, a PEG ratio of 4.60 and a beta of 0.71. The stock’s 50 day moving average price is $16.15 and its 200-day moving average price is $15.73. TELUS Corporation has a twelve month low of $13.24 and a twelve month high of $16.77.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). TELUS had a net margin of 4.67% and a return on equity of 9.10%. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the firm earned $0.25 EPS. The company’s revenue was up 2.2% compared to the same quarter last year. On average, equities analysts anticipate that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th were paid a $0.3019 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This is an increase from TELUS’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a yield of 7.6%. TELUS’s payout ratio is currently 263.04%.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reissued an “outperform” rating on shares of TELUS in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $21.50.

About TELUS

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.