TELUS Corporation $TU Stock Position Lowered by Fiera Capital Corp

Fiera Capital Corp trimmed its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 0.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 16,141,814 shares of the Wireless communications provider’s stock after selling 129,093 shares during the period. Fiera Capital Corp owned 1.06% of TELUS worth $259,198,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Achmea Investment Management B.V. raised its position in TELUS by 2,950.8% during the second quarter. Achmea Investment Management B.V. now owns 34,901 shares of the Wireless communications provider’s stock valued at $560,000 after buying an additional 33,757 shares during the period. Goldman Sachs Group Inc. boosted its position in TELUS by 196.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 11,836,479 shares of the Wireless communications provider’s stock worth $169,735,000 after acquiring an additional 7,840,264 shares during the period. Bank of New York Mellon Corp grew its stake in TELUS by 39.7% during the 1st quarter. Bank of New York Mellon Corp now owns 651,054 shares of the Wireless communications provider’s stock valued at $9,336,000 after acquiring an additional 185,020 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of TELUS by 14.0% in the 1st quarter. Principal Financial Group Inc. now owns 64,200 shares of the Wireless communications provider’s stock valued at $921,000 after purchasing an additional 7,900 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of TELUS by 43.4% in the first quarter. American Century Companies Inc. now owns 171,551 shares of the Wireless communications provider’s stock worth $2,461,000 after purchasing an additional 51,886 shares in the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Stock Performance

TU stock opened at $14.69 on Thursday. The firm has a 50 day moving average of $15.40 and a two-hundred day moving average of $15.86. TELUS Corporation has a 12 month low of $13.24 and a 12 month high of $16.74. The company has a market capitalization of $22.54 billion, a price-to-earnings ratio of 26.70, a P/E/G ratio of 6.22 and a beta of 0.71. The company has a quick ratio of 0.81, a current ratio of 0.76 and a debt-to-equity ratio of 1.47.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.77 billion. TELUS had a net margin of 5.71% and a return on equity of 8.76%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.28 EPS. As a group, equities analysts anticipate that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be issued a dividend of $0.4184 per share. The ex-dividend date of this dividend is Thursday, December 11th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 11.4%. This is a positive change from TELUS’s previous quarterly dividend of $0.30. TELUS’s payout ratio is currently 220.00%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TU shares. Barclays lowered their price objective on shares of TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday. Weiss Ratings reissued a “hold (c-)” rating on shares of TELUS in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $17.75.

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.