Telus Corp. (TU) Stake Cut by Bank of New York Mellon Corp
Bank of New York Mellon Corp lowered its position in Telus Corp. (NYSE:TU) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 254,787 shares of the company’s stock after selling 696 shares during the period. Bank of New York Mellon Corp’s holdings in Telus Corp. were worth $8,204,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of TU. Bank of Montreal Can purchased a new position in Telus Corp. during the second quarter valued at $608,248,000. Beutel Goodman & Co Ltd. increased its position in Telus Corp. by 1.6% in the second quarter. Beutel Goodman & Co Ltd. now owns 11,932,227 shares of the company’s stock valued at $381,567,000 after buying an additional 183,325 shares during the period. CIBC World Markets Inc. increased its position in Telus Corp. by 0.4% in the second quarter. CIBC World Markets Inc. now owns 10,108,944 shares of the company’s stock valued at $325,508,000 after buying an additional 43,668 shares during the period. Montrusco Bolton Investments Inc. increased its position in Telus Corp. by 179.3% in the second quarter. Montrusco Bolton Investments Inc. now owns 2,979,926 shares of the company’s stock valued at $95,453,000 after buying an additional 1,912,830 shares during the period. Finally, USS Investment Management Ltd increased its position in Telus Corp. by 362.2% in the first quarter. USS Investment Management Ltd now owns 2,760,772 shares of the company’s stock valued at $90,116,000 after buying an additional 2,163,439 shares during the period. Institutional investors own 53.01% of the company’s stock.
Telus Corp. (NYSE:TU) traded down 0.59% during midday trading on Friday, reaching $31.82. The company’s stock had a trading volume of 171,643 shares. Telus Corp. has a 52 week low of $24.34 and a 52 week high of $34.12. The firm’s 50-day moving average price is $33.25 and its 200-day moving average price is $32.11. The stock has a market capitalization of $18.84 billion, a PE ratio of 17.29 and a beta of 0.95.
Telus Corp. (NYSE:TU) last released its earnings results on Friday, August 5th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Telus Corp. had a return on equity of 19.92% and a net margin of 11.26%. The company had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.19 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. On average, analysts anticipate that Telus Corp. will post $2.01 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Friday, September 9th will be given a dividend of $0.3505 per share. This represents a $1.40 annualized dividend and a yield of 4.41%. The ex-dividend date is Wednesday, September 7th. Telus Corp.’s payout ratio is 78.33%.
Several equities analysts have recently weighed in on TU shares. Zacks Investment Research downgraded Telus Corp. from a “hold” rating to a “sell” rating in a research report on Monday, August 29th. Desjardins upgraded Telus Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, August 11th. Canaccord Genuity restated a “hold” rating on shares of Telus Corp. in a research report on Friday, August 5th. Barclays PLC raised their target price on Telus Corp. from $36.00 to $37.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. Finally, TheStreet upgraded Telus Corp. from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Eight equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $40.67.
About Telus Corp.
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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