TELUS Corporation $TU Shares Sold by Lincluden Management Ltd.

Lincluden Management Ltd. reduced its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 1.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,912,479 shares of the Wireless communications provider’s stock after selling 30,113 shares during the quarter. TELUS accounts for 3.4% of Lincluden Management Ltd.’s investment portfolio, making the stock its 11th largest position. Lincluden Management Ltd. owned 0.13% of TELUS worth $30,687,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in TU. Farther Finance Advisors LLC lifted its holdings in shares of TELUS by 71.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock worth $33,000 after acquiring an additional 971 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of TELUS by 26.1% in the 2nd quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock worth $52,000 after acquiring an additional 667 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of TELUS by 10.5% in the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider’s stock worth $121,000 after acquiring an additional 800 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of TELUS in the 1st quarter worth approximately $134,000. Finally, TD Private Client Wealth LLC lifted its holdings in shares of TELUS by 175.4% in the 1st quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider’s stock worth $149,000 after acquiring an additional 6,624 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Price Performance

TELUS stock opened at $15.24 on Friday. The firm has a market cap of $23.39 billion, a PE ratio of 33.13, a price-to-earnings-growth ratio of 4.52 and a beta of 0.71. TELUS Corporation has a 52-week low of $13.24 and a 52-week high of $16.74. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72. The company’s 50 day moving average is $16.04 and its two-hundred day moving average is $15.79.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (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 business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the company earned $0.25 earnings per share. TELUS’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts expect that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th were given a $0.3019 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 7.9%. This is a boost from TELUS’s previous quarterly dividend of $0.30. TELUS’s payout ratio is currently 263.04%.

Analyst Upgrades and Downgrades

TU has been the topic of several recent analyst reports. Scotiabank restated an “outperform” rating on shares of TELUS in a report on Tuesday, July 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of TELUS in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, TELUS presently has a consensus rating of “Hold” and an average target price of $21.50.

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.