Westerkirk Capital Inc. reduced its holdings in shares of TELUS Corporation (NYSE:TU – Free Report) (TSE:T) by 93.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,337 shares of the Wireless communications provider’s stock after selling 59,200 shares during the quarter. Westerkirk Capital Inc.’s holdings in TELUS were worth $57,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the business. Franklin Resources Inc. lifted its stake in shares of TELUS by 6.6% during the 4th quarter. Franklin Resources Inc. now owns 450,954 shares of the Wireless communications provider’s stock valued at $5,944,000 after buying an additional 27,776 shares in the last quarter. Manchester Capital Management LLC lifted its stake in shares of TELUS by 320.0% during the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after buying an additional 1,712 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of TELUS by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 4,217,227 shares of the Wireless communications provider’s stock valued at $55,541,000 after buying an additional 471,886 shares in the last quarter. Syon Capital LLC purchased a new stake in shares of TELUS during the 4th quarter valued at approximately $145,000. Finally, Capital World Investors lifted its stake in TELUS by 1.2% in the 4th quarter. Capital World Investors now owns 243,262 shares of the Wireless communications provider’s stock worth $3,206,000 after purchasing an additional 2,973 shares in the last quarter. 49.40% of the stock is currently owned by hedge funds and other institutional investors.
TELUS Stock Performance
NYSE TU opened at $12.28 on Wednesday. TELUS Corporation has a 1 year low of $11.69 and a 1 year high of $16.74. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.67 and a quick ratio of 0.63. The stock has a market capitalization of $19.32 billion, a PE ratio of 27.90, a P/E/G ratio of 11.96 and a beta of 0.61. The company’s 50 day simple moving average is $12.45 and its two-hundred day simple moving average is $13.05.
TELUS Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.4184 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.67 annualized dividend and a dividend yield of 13.6%. TELUS’s dividend payout ratio (DPR) is 279.55%.
Analyst Ratings Changes
TU has been the topic of several recent analyst reports. Bank of America upgraded shares of TELUS from a “neutral” rating to a “buy” rating and increased their target price for the stock from $14.50 to $16.00 in a research note on Tuesday, March 10th. Wall Street Zen upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. TD Securities upgraded shares of TELUS from a “buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Scotiabank cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, April 10th. Finally, Weiss Ratings cut shares of TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.33.
Read Our Latest Report on TELUS
TELUS Company Profile
TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.
Beyond core connectivity, TELUS has expanded into health and digital services.
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