Letko Brosseau & Associates Inc. cut its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,167,132 shares of the Wireless communications provider’s stock after selling 199,555 shares during the quarter. TELUS Corporation makes up approximately 3.4% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 6th largest holding. Letko Brosseau & Associates Inc. owned 1.72% of TELUS Corporation worth $350,491,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TU. Franklin Resources Inc. lifted its holdings in TELUS Corporation by 73.8% during the second quarter. Franklin Resources Inc. now owns 6,976,282 shares of the Wireless communications provider’s stock valued at $240,943,000 after purchasing an additional 2,963,432 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in TELUS Corporation by 12.1% during the second quarter. Great West Life Assurance Co. Can now owns 7,486,696 shares of the Wireless communications provider’s stock valued at $257,825,000 after purchasing an additional 806,613 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in TELUS Corporation by 22.9% during the first quarter. Renaissance Technologies LLC now owns 4,216,748 shares of the Wireless communications provider’s stock valued at $136,967,000 after purchasing an additional 786,148 shares during the last quarter. Fiera Capital Corp lifted its holdings in TELUS Corporation by 34.6% during the second quarter. Fiera Capital Corp now owns 3,038,791 shares of the Wireless communications provider’s stock valued at $104,724,000 after purchasing an additional 781,503 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in TELUS Corporation by 1,203.4% during the second quarter. Swiss National Bank now owns 762,500 shares of the Wireless communications provider’s stock valued at $26,305,000 after purchasing an additional 704,000 shares during the last quarter. 51.05% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have recently issued reports on TU shares. Zacks Investment Research downgraded shares of TELUS Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Barclays PLC increased their price target on shares of TELUS Corporation from $38.00 to $41.00 and gave the stock an “overweight” rating in a report on Monday, August 14th. BMO Capital Markets increased their price target on shares of TELUS Corporation from $46.00 to $47.00 and gave the stock an “outperform” rating in a report on Monday, August 14th. Finally, BidaskClub downgraded shares of TELUS Corporation from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. TELUS Corporation presently has a consensus rating of “Buy” and an average price target of $43.50.

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Shares of TELUS Corporation (NYSE:TU) traded down 0.03% during midday trading on Thursday, hitting $35.96. 94,443 shares of the stock were exchanged. The stock has a market cap of $21.36 billion, a P/E ratio of 21.83 and a beta of 0.89. TELUS Corporation has a 52-week low of $30.31 and a 52-week high of $36.94. The firm’s 50 day moving average price is $35.96 and its 200-day moving average price is $34.08.

TELUS Corporation (NYSE:TU) (TSE:T) last released its quarterly earnings results on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.05). TELUS Corporation had a net margin of 9.55% and a return on equity of 18.75%. The firm had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the firm earned $0.70 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities research analysts expect that TELUS Corporation will post $2.21 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.3884 per share. The ex-dividend date of this dividend is Thursday, September 7th. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.32%. TELUS Corporation’s payout ratio is currently 100.00%.

About TELUS Corporation

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 (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.

Institutional Ownership by Quarter for TELUS Corporation (NYSE:TU)

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