TELUS Co. (TU) Position Decreased by Allianz Asset Management AG
Allianz Asset Management AG decreased its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 59.8% during the fourth quarter, Holdings Channel reports. The firm owned 29,711 shares of the company’s stock after selling 44,130 shares during the period. Allianz Asset Management AG’s holdings in TELUS were worth $948,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the stock. Credit Agricole S A increased its position in shares of TELUS by 2.5% in the fourth quarter. Credit Agricole S A now owns 78,318 shares of the company’s stock valued at $2,495,000 after buying an additional 1,890 shares during the period. Letko Brosseau & Associates Inc. increased its position in shares of TELUS by 2.4% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 10,460,282 shares of the company’s stock valued at $333,043,000 after buying an additional 245,800 shares during the period. Aviva PLC increased its position in shares of TELUS by 8.0% in the fourth quarter. Aviva PLC now owns 98,791 shares of the company’s stock valued at $3,135,000 after buying an additional 7,278 shares during the period. FMR LLC increased its position in shares of TELUS by 0.6% in the fourth quarter. FMR LLC now owns 23,181,817 shares of the company’s stock valued at $738,109,000 after buying an additional 127,742 shares during the period. Finally, Federated Investors Inc. PA increased its position in shares of TELUS by 12.4% in the fourth quarter. Federated Investors Inc. PA now owns 201,597 shares of the company’s stock valued at $6,421,000 after buying an additional 22,265 shares during the period. 54.15% of the stock is owned by hedge funds and other institutional investors.
TELUS Co. (NYSE:TU) opened at 31.97 on Tuesday. The company has a market capitalization of $18.86 billion, a P/E ratio of 20.94 and a beta of 0.89. The company has a 50-day moving average of $32.75 and a 200-day moving average of $32.39. TELUS Co. has a 1-year low of $30.31 and a 1-year high of $34.12.
TELUS (NYSE:TU) last issued its quarterly earnings data on Thursday, February 9th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.04. TELUS had a return on equity of 19.03% and a net margin of 9.58%. The business earned $3.30 billion during the quarter, compared to analysts’ expectations of $3.22 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up 2.7% on a year-over-year basis. Equities analysts expect that TELUS Co. will post $2.04 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 10th will be paid a $0.3668 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This represents a $1.47 dividend on an annualized basis and a dividend yield of 4.59%. TELUS’s payout ratio is currently 91.67%.
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Several brokerages have recently commented on TU. Zacks Investment Research raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Friday. Barclays PLC reaffirmed an “overweight” rating and set a $38.00 price objective (up from $36.00) on shares of TELUS in a research note on Thursday, February 16th. National Bank Financial raised shares of TELUS from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, February 7th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $47.00 price objective on shares of TELUS in a research note on Monday, February 6th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $40.33.
TELUS Company Profile
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol, television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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