Clean Yield Group Sells 8,776 Shares of TELUS Co. (NYSE:TU)

Clean Yield Group trimmed its stake in TELUS Co. (NYSE:TU) (TSE:T) by 4.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 207,723 shares of the Wireless communications provider’s stock after selling 8,776 shares during the period. Clean Yield Group’s holdings in TELUS were worth $2,979,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. First Affirmative Financial Network grew its position in TELUS by 8.6% in the first quarter. First Affirmative Financial Network now owns 41,070 shares of the Wireless communications provider’s stock valued at $589,000 after acquiring an additional 3,244 shares during the period. Vest Financial LLC grew its position in TELUS by 49.1% in the first quarter. Vest Financial LLC now owns 95,944 shares of the Wireless communications provider’s stock valued at $1,376,000 after acquiring an additional 31,604 shares during the period. AEGON ASSET MANAGEMENT UK Plc grew its position in TELUS by 1.4% in the first quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,031,897 shares of the Wireless communications provider’s stock valued at $14,783,000 after acquiring an additional 14,697 shares during the period. NBC Securities Inc. grew its position in TELUS by 112,425.0% in the first 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 during the period. Finally, Investors Research Corp grew its position in TELUS by 21.6% in the first quarter. Investors Research Corp now owns 81,856 shares of the Wireless communications provider’s stock valued at $1,174,000 after acquiring an additional 14,550 shares during the period. 49.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TU. Cormark cut TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. Wall Street Zen upgraded TELUS from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Canaccord Genuity Group increased their target price on TELUS from $20.25 to $21.50 and gave the stock a “hold” rating in a report on Monday, May 12th. Bank of America cut TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of TELUS in a research note on Monday, May 12th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, TELUS presently has a consensus rating of “Hold” and a consensus price target of $21.50.

TELUS Trading Down 0.4%

Shares of TU opened at $16.34 on Friday. TELUS Co. has a 12-month low of $13.24 and a 12-month high of $17.27. The stock’s fifty day simple moving average is $15.31 and its 200-day simple moving average is $14.89. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $24.73 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 10th will be issued a $0.2989 dividend. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 7.32%. The ex-dividend date of this dividend is Tuesday, June 10th. TELUS’s dividend payout ratio is 201.75%.

TELUS 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.