M&G Investment Management Ltd. Lowers Position in TELUS Co. (NYSE:TU)

M&G Investment Management Ltd. lowered its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 241,589 shares of the Wireless communications provider’s stock after selling 6,174 shares during the period. M&G Investment Management Ltd.’s holdings in TELUS were worth $4,806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV raised its holdings in shares of TELUS by 4.3% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 14,186 shares of the Wireless communications provider’s stock valued at $283,000 after buying an additional 579 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of TELUS by 4.0% during the 1st quarter. Rockefeller Capital Management L.P. now owns 161,777 shares of the Wireless communications provider’s stock valued at $3,224,000 after buying an additional 6,201 shares in the last quarter. Fiera Capital Corp raised its holdings in shares of TELUS by 9.2% during the 1st quarter. Fiera Capital Corp now owns 10,013,550 shares of the Wireless communications provider’s stock valued at $199,427,000 after buying an additional 844,640 shares in the last quarter. Achmea Investment Management B.V. raised its holdings in shares of TELUS by 16.6% during the 1st quarter. Achmea Investment Management B.V. now owns 41,181 shares of the Wireless communications provider’s stock valued at $820,000 after buying an additional 5,868 shares in the last quarter. Finally, Cumberland Partners Ltd raised its holdings in shares of TELUS by 3.0% during the 1st quarter. Cumberland Partners Ltd now owns 125,039 shares of the Wireless communications provider’s stock valued at $2,491,000 after buying an additional 3,644 shares in the last quarter. 51.43% of the stock is currently owned by institutional investors.

Shares of TU stock opened at $22.66 on Friday. The company has a market cap of $29.39 billion, a price-to-earnings ratio of 32.84, a P/E/G ratio of 3.02 and a beta of 0.68. TELUS Co. has a fifty-two week low of $16.22 and a fifty-two week high of $23.28. The stock has a 50 day simple moving average of $21.46. The company has a current ratio of 0.84, a quick ratio of 0.78 and a debt-to-equity ratio of 1.11.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, May 7th. The Wireless communications provider reported $0.21 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.02). The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.16 billion. TELUS had a return on equity of 9.81% and a net margin of 7.41%. On average, research analysts forecast that TELUS Co. will post 0.9 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 2nd. Investors of record on Thursday, June 10th will be given a dividend of $0.2594 per share. The ex-dividend date is Wednesday, June 9th. This is a positive change from TELUS’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a dividend yield of 4.58%. TELUS’s payout ratio is currently 84.81%.

A number of brokerages recently weighed in on TU. National Bank Financial reissued an “outperform” rating on shares of TELUS in a report on Thursday, April 1st. Desjardins restated a “buy” rating on shares of TELUS in a research report on Thursday, March 18th. Scotiabank raised their price target on TELUS from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 2nd. Credit Suisse Group started coverage on TELUS in a research report on Monday, March 1st. They set a “neutral” rating and a $33.00 price target on the stock. Finally, BMO Capital Markets raised their price target on TELUS from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, February 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. TELUS presently has a consensus rating of “Buy” and an average price target of $28.33.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Wireless and Wireline segments. The Wireless segment offers a range of telecommunications products and services. Its wireless products and services include network revenue comprising data and voice; and equipment sales from mobile technologies.

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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