Fiera Capital Corp Sells 129,093 Shares of TELUS Corporation $TU

Fiera Capital Corp cut its holdings in TELUS Corporation (NYSE:TU) (TSE:T) by 0.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,141,814 shares of the Wireless communications provider’s stock after selling 129,093 shares during the period. Fiera Capital Corp’s holdings in TELUS were worth $259,198,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of TU. Blue Trust Inc. raised its stake in shares of TELUS by 26.1% in the second quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after purchasing an additional 667 shares in the last quarter. CWM LLC lifted its holdings in TELUS by 169.6% during the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock valued at $59,000 after purchasing an additional 2,301 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in TELUS during the first quarter worth about $134,000. Golden State Equity Partners bought a new stake in TELUS during the second quarter worth about $161,000. Finally, Private Advisor Group LLC increased its holdings in shares of TELUS by 13.7% during the first quarter. Private Advisor Group LLC now owns 13,190 shares of the Wireless communications provider’s stock worth $189,000 after buying an additional 1,590 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on TU shares. Weiss Ratings reissued a “hold (c-)” rating on shares of TELUS in a report on Thursday, October 30th. Barclays reduced their price objective on TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday. One research analyst has rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.75.

TELUS Stock Performance

TU stock opened at $14.69 on Thursday. The company has a 50 day moving average price of $15.40 and a 200 day moving average price of $15.86. TELUS Corporation has a fifty-two week low of $13.24 and a fifty-two week high of $16.74. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.76 and a quick ratio of 0.81. The stock has a market capitalization of $22.54 billion, a PE ratio of 26.70, a price-to-earnings-growth ratio of 6.22 and a beta of 0.71.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The firm had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.77 billion. TELUS had a net margin of 5.71% and a return on equity of 8.76%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 earnings per share. Analysts forecast that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 11th will be given a $0.4184 dividend. The ex-dividend date is Thursday, December 11th. This is a positive change from TELUS’s previous quarterly dividend of $0.30. This represents a $1.67 dividend on an annualized basis and a yield of 11.4%. TELUS’s dividend payout ratio is 220.00%.

About TELUS

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.