TELUS Corporation $TU Position Increased by PensionDanmark Pensionsforsikringsaktieselskab

PensionDanmark Pensionsforsikringsaktieselskab boosted its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 76.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 199,076 shares of the Wireless communications provider’s stock after purchasing an additional 86,268 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in TELUS were worth $2,133,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of Nova Scotia lifted its holdings in shares of TELUS by 20.4% during the 1st quarter. Bank of Nova Scotia now owns 21,108,090 shares of the Wireless communications provider’s stock valued at $271,237,000 after buying an additional 3,571,734 shares during the last quarter. K.J. Harrison & Partners Inc increased its holdings in TELUS by 307.9% in the fourth quarter. K.J. Harrison & Partners Inc now owns 222,192 shares of the Wireless communications provider’s stock worth $2,933,000 after buying an additional 167,714 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in TELUS by 21.5% in the first quarter. The Manufacturers Life Insurance Company now owns 24,075,122 shares of the Wireless communications provider’s stock worth $309,159,000 after buying an additional 4,258,557 shares during the last quarter. Letko Brosseau & Associates Inc. raised its position in TELUS by 2.2% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 6,775,387 shares of the Wireless communications provider’s stock valued at $89,416,000 after acquiring an additional 148,325 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in TELUS by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 29,470,046 shares of the Wireless communications provider’s stock valued at $388,415,000 after acquiring an additional 916,459 shares in the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on TU. TD Securities reissued a “buy” rating on shares of TELUS in a research report on Monday, August 3rd. Barclays set a $11.00 price target on shares of TELUS and gave the company an “equal weight” rating in a report on Tuesday, August 4th. Bank of America reaffirmed an “underperform” rating on shares of TELUS in a research note on Tuesday, August 4th. Royal Bank Of Canada cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Tuesday, August 4th. Finally, Desjardins downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 4th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $15.33.

TELUS Stock Down 1.4%

TU stock opened at $9.58 on Tuesday. The stock has a market capitalization of $15.08 billion, a price-to-earnings ratio of -23.37, a price-to-earnings-growth ratio of 9.55 and a beta of 0.64. The company has a 50-day moving average of $10.85 and a two-hundred day moving average of $12.29. TELUS Corporation has a 52-week low of $9.20 and a 52-week high of $16.72. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.67 and a quick ratio of 0.62.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.04). TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%.The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. As a group, equities research analysts anticipate that TELUS Corporation will post 0.57 EPS for the current year.

TELUS Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.1875 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 7.8%. TELUS’s payout ratio is -295.12%.

TELUS Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.