PCJ Investment Counsel Ltd. lowered its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 45.1% in the 3rd quarter, HoldingsChannel reports. The fund owned 549,874 shares of the Wireless communications provider’s stock after selling 451,030 shares during the quarter. TELUS comprises approximately 1.7% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 19th largest position. PCJ Investment Counsel Ltd.’s holdings in TELUS were worth $20,253,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. First Republic Investment Management Inc. increased its holdings in TELUS by 44.7% in the 3rd quarter. First Republic Investment Management Inc. now owns 30,686 shares of the Wireless communications provider’s stock valued at $1,130,000 after acquiring an additional 9,479 shares during the last quarter. Renaissance Technologies LLC increased its holdings in TELUS by 1.4% in the 3rd quarter. Renaissance Technologies LLC now owns 5,335,900 shares of the Wireless communications provider’s stock valued at $196,575,000 after acquiring an additional 73,300 shares during the last quarter. Riverhead Capital Management LLC increased its holdings in TELUS by 95.7% in the 3rd quarter. Riverhead Capital Management LLC now owns 4,500 shares of the Wireless communications provider’s stock valued at $164,000 after acquiring an additional 2,200 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in TELUS by 476.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 249,376 shares of the Wireless communications provider’s stock valued at $9,187,000 after acquiring an additional 206,136 shares during the last quarter. Finally, Bridgewater Associates LP increased its holdings in TELUS by 16.1% in the 3rd quarter. Bridgewater Associates LP now owns 300,160 shares of the Wireless communications provider’s stock valued at $11,056,000 after acquiring an additional 41,636 shares during the last quarter. 50.80% of the stock is owned by institutional investors.

Shares of TELUS stock traded down $0.55 during trading hours on Thursday, reaching $35.43. The company’s stock had a trading volume of 5,032 shares, compared to its average volume of 340,555. TELUS Co. has a one year low of $33.64 and a one year high of $38.20. The company has a quick ratio of 0.76, a current ratio of 0.83 and a debt-to-equity ratio of 1.31. The company has a market cap of $21.52 billion, a PE ratio of 17.42, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, November 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. TELUS had a net margin of 10.82% and a return on equity of 17.51%. The firm had revenue of $3.77 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the previous year, the firm posted $0.66 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts expect that TELUS Co. will post 2.17 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Tuesday, December 11th will be issued a $0.4158 dividend. The ex-dividend date is Monday, December 10th. This is an increase from TELUS’s previous quarterly dividend of $0.40. This represents a $1.66 dividend on an annualized basis and a dividend yield of 4.69%. TELUS’s payout ratio is 79.31%.

A number of brokerages have issued reports on TU. Desjardins reiterated a “buy” rating on shares of TELUS in a report on Sunday, October 21st. Zacks Investment Research restated a “sell” rating on shares of TELUS in a report on Saturday, November 17th. Barclays restated a “buy” rating and issued a $40.00 target price on shares of TELUS in a report on Sunday, November 11th. TD Securities restated a “buy” rating on shares of TELUS in a report on Friday, November 9th. Finally, Scotiabank downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. TELUS currently has a consensus rating of “Hold” and an average target price of $47.67.

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About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and security and cloud-based services; healthcare solutions; business process outsourcing; and security solutions.

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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