Cumberland Partners Ltd Has $404,000 Position in TELUS Co. (NYSE:TU)

Cumberland Partners Ltd raised its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 10.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,670 shares of the Wireless communications provider’s stock after buying an additional 2,256 shares during the period. Cumberland Partners Ltd’s holdings in TELUS were worth $404,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. VisionPoint Advisory Group LLC raised its holdings in shares of TELUS by 80.8% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider’s stock valued at $27,000 after purchasing an additional 739 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in shares of TELUS during the 4th quarter valued at $33,000. CVA Family Office LLC bought a new position in shares of TELUS during the 4th quarter valued at $49,000. CWM LLC raised its holdings in shares of TELUS by 104.3% during the 4th quarter. CWM LLC now owns 3,891 shares of the Wireless communications provider’s stock valued at $69,000 after purchasing an additional 1,986 shares in the last quarter. Finally, Sequoia Financial Advisors LLC bought a new position in shares of TELUS during the 3rd quarter valued at $172,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. StockNews.com downgraded shares of TELUS from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. downgraded shares of TELUS from an “overweight” rating to a “neutral” rating in a report on Thursday, January 4th. BMO Capital Markets dropped their target price on shares of TELUS from $27.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Finally, Scotiabank restated a “sector perform” rating and set a $26.00 price objective (down previously from $28.00) on shares of TELUS in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, TELUS has a consensus rating of “Hold” and an average target price of $27.72.

TELUS Price Performance

NYSE:TU traded down $0.19 on Wednesday, reaching $16.02. The stock had a trading volume of 1,665,345 shares, compared to its average volume of 2,471,986. The company has a market capitalization of $23.65 billion, a P/E ratio of 37.71, a price-to-earnings-growth ratio of 1.96 and a beta of 0.72. TELUS Co. has a 1-year low of $15.35 and a 1-year high of $21.28. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 1.35. The stock has a fifty day moving average price of $16.70 and a 200-day moving average price of $17.28.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Friday, February 9th. The Wireless communications provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.24 billion. TELUS had a net margin of 4.18% and a return on equity of 7.81%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.17 earnings per share. Research analysts forecast that TELUS Co. will post 0.76 EPS for the current year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were given a dividend of $0.2793 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.97%. This is a positive change from TELUS’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, March 8th. TELUS’s dividend payout ratio is presently 258.14%.

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.