TELUS Corporation $TU Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. reduced its holdings in TELUS Corporation (NYSE:TU) (TSE:T) by 20.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 9,227,684 shares of the Wireless communications provider’s stock after selling 2,329,942 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in TELUS were worth $121,423,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Walter Public Investments Inc. increased its stake in TELUS by 1.9% in the third quarter. Walter Public Investments Inc. now owns 39,334 shares of the Wireless communications provider’s stock valued at $619,000 after purchasing an additional 750 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its stake in TELUS by 7.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 11,483 shares of the Wireless communications provider’s stock valued at $181,000 after purchasing an additional 755 shares during the last quarter. Farther Finance Advisors LLC increased its stake in TELUS by 35.0% in the third quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock valued at $46,000 after purchasing an additional 759 shares during the last quarter. Blue Trust Inc. increased its stake in TELUS by 23.8% in the third quarter. Blue Trust Inc. now owns 3,994 shares of the Wireless communications provider’s stock valued at $63,000 after purchasing an additional 767 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in TELUS by 1.9% in the second quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock valued at $739,000 after purchasing an additional 841 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on TU. Scotiabank lowered TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, April 10th. TD Securities lowered TELUS from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Bank of America upgraded TELUS from a “neutral” rating to a “buy” rating and upped their target price for the company from $14.50 to $16.00 in a research note on Tuesday, March 10th. Wall Street Zen lowered TELUS from a “hold” rating to a “sell” rating in a research note on Saturday, February 21st. Finally, Canaccord Genuity Group lowered TELUS from a “buy” rating to a “hold” rating in a research note on Thursday, April 9th. Three equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.63.

TELUS Stock Performance

Shares of NYSE:TU opened at $12.40 on Monday. The firm has a market capitalization of $19.20 billion, a PE ratio of 23.84, a P/E/G ratio of 1.86 and a beta of 0.68. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.86 and a quick ratio of 0.81. The business has a 50-day moving average of $13.21 and a two-hundred day moving average of $13.66. TELUS Corporation has a 12 month low of $11.69 and a 12 month high of $16.74.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.85 billion. TELUS had a return on equity of 8.42% and a net margin of 5.42%.During the same quarter in the prior year, the company earned $0.25 earnings per share. As a group, research analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th were paid a dividend of $0.4184 per share. The ex-dividend date was Wednesday, March 11th. This represents a $1.67 annualized dividend and a yield of 13.5%. TELUS’s dividend payout ratio is currently 236.54%.

About TELUS

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.