Shell Asset Management Co. Sells 41,067 Shares of TELUS Co. (NYSE:TU)

Shell Asset Management Co. lowered its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 19.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 172,170 shares of the Wireless communications provider’s stock after selling 41,067 shares during the quarter. Shell Asset Management Co.’s holdings in TELUS were worth $3,079,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. VisionPoint Advisory Group LLC lifted its holdings in TELUS by 80.8% during the third quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider’s stock valued at $27,000 after purchasing an additional 739 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in TELUS during the fourth quarter worth about $33,000. CVA Family Office LLC bought a new position in TELUS in the 4th quarter worth about $49,000. CWM LLC raised its holdings in shares of TELUS by 104.3% in the 4th quarter. CWM LLC now owns 3,891 shares of the Wireless communications provider’s stock valued at $69,000 after acquiring an additional 1,986 shares in the last quarter. Finally, Optiver Holding B.V. increased its position in shares of TELUS by 8,333.0% in the fourth quarter. Optiver Holding B.V. now owns 8,433 shares of the Wireless communications provider’s stock worth $150,000 after purchasing an additional 8,333 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Stock Down 0.9 %

NYSE TU traded down $0.15 during trading hours on Friday, reaching $16.56. 1,693,545 shares of the company’s stock traded hands, compared to its average volume of 1,942,505. The firm has a market cap of $24.44 billion, a PE ratio of 42.46, a PEG ratio of 2.39 and a beta of 0.73. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.75 and a quick ratio of 0.70. TELUS Co. has a 52-week low of $15.35 and a 52-week high of $19.66. The firm has a 50-day simple moving average of $16.23 and a 200 day simple moving average of $17.15.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Thursday, May 9th. The Wireless communications provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The firm had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.73 billion. TELUS had a return on equity of 7.90% and a net margin of 3.73%. Sell-side analysts anticipate that TELUS Co. will post 0.76 EPS for the current fiscal year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be issued a dividend of $0.282 per share. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents a $1.13 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date of this dividend is Monday, June 10th. TELUS’s dividend payout ratio is presently 284.62%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Scotiabank restated a “sector perform” rating and issued a $26.00 target price (down previously from $28.00) on shares of TELUS in a research report on Monday, March 25th. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, BMO Capital Markets reduced their price objective on TELUS from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.72.

TELUS Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.