Anson Funds Management LP Sells 50,000 Shares of TELUS Corporation $TU

Anson Funds Management LP trimmed its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 33.3% during the 1st quarter, Holdings Channel reports. The institutional investor owned 100,000 shares of the Wireless communications provider’s stock after selling 50,000 shares during the quarter. Anson Funds Management LP’s holdings in TELUS were worth $1,435,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. D.A. Davidson & CO. bought a new stake in TELUS during the first quarter worth approximately $206,000. Ameriprise Financial Inc. increased its position in shares of TELUS by 25.6% during the 4th quarter. Ameriprise Financial Inc. now owns 528,246 shares of the Wireless communications provider’s stock valued at $7,249,000 after purchasing an additional 107,806 shares during the last quarter. Northern Trust Corp raised its holdings in TELUS by 41.9% during the 4th quarter. Northern Trust Corp now owns 779,525 shares of the Wireless communications provider’s stock valued at $10,570,000 after buying an additional 230,234 shares during the period. Bank of New York Mellon Corp lifted its position in TELUS by 39.7% in the first quarter. Bank of New York Mellon Corp now owns 651,054 shares of the Wireless communications provider’s stock worth $9,336,000 after buying an additional 185,020 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in TELUS by 14.0% during the first quarter. Principal Financial Group Inc. now owns 64,200 shares of the Wireless communications provider’s stock worth $921,000 after buying an additional 7,900 shares during the period. Institutional investors own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Scotiabank reissued an “outperform” rating on shares of TELUS in a research note on Tuesday, July 15th. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $21.50.

TELUS Stock Performance

Shares of TELUS stock opened at $15.84 on Thursday. TELUS Corporation has a 52 week low of $13.24 and a 52 week high of $17.26. The company has a market capitalization of $24.31 billion, a PE ratio of 34.42, a price-to-earnings-growth ratio of 4.78 and a beta of 0.72. The stock’s fifty day moving average is $16.33 and its two-hundred day moving average is $15.70. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). TELUS had a return on equity of 9.10% and a net margin of 4.67%.The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the company posted $0.25 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, analysts expect that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.3019 per share. This is a boost from TELUS’s previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a dividend yield of 7.6%. The ex-dividend date of this dividend is Wednesday, September 10th. TELUS’s payout ratio is presently 263.04%.

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.