TELUS Corporation $TU Shares Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. lowered its position in TELUS Corporation (NYSE:TU) (TSE:T) by 46.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 475,273 shares of the Wireless communications provider’s stock after selling 410,195 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in TELUS were worth $7,487,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TU. Walter Public Investments Inc. lifted its position in shares of TELUS by 1.9% during the 3rd quarter. Walter Public Investments Inc. now owns 39,334 shares of the Wireless communications provider’s stock worth $619,000 after purchasing an additional 750 shares during the last quarter. B. Riley Wealth Advisors Inc. increased its holdings in shares of TELUS by 7.0% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 11,483 shares of the Wireless communications provider’s stock valued at $181,000 after acquiring an additional 755 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of TELUS by 35.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock worth $46,000 after acquiring an additional 759 shares in the last quarter. Blue Trust Inc. raised its position in shares of TELUS by 23.8% during the 3rd quarter. Blue Trust Inc. now owns 3,994 shares of the Wireless communications provider’s stock worth $63,000 after acquiring an additional 767 shares in the last quarter. Finally, Cetera Investment Advisers lifted its stake in TELUS by 1.9% during the second quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock worth $739,000 after purchasing an additional 841 shares during the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on TU. Wall Street Zen cut shares of TELUS from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Scotiabank reiterated an “outperform” rating on shares of TELUS in a research note on Tuesday, February 17th. National Bank Financial reissued an “outperform” rating on shares of TELUS in a research report on Thursday, December 4th. Citigroup raised TELUS to a “buy” rating in a report on Thursday, December 4th. Finally, Barclays cut their target price on TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $18.17.

TELUS Stock Performance

NYSE:TU opened at $13.47 on Thursday. The company has a debt-to-equity ratio of 1.65, a current ratio of 0.86 and a quick ratio of 0.81. The firm has a market cap of $20.84 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.60 and a beta of 0.67. The firm’s fifty day moving average price is $13.49 and its 200 day moving average price is $14.49. TELUS Corporation has a 1-year low of $12.54 and a 1-year high of $16.74.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.85 billion. TELUS had a return on equity of 8.42% and a net margin of 5.42%.During the same quarter last year, the business posted $0.25 EPS. On average, sell-side analysts expect that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.4184 per share. This represents a $1.67 dividend on an annualized basis and a dividend yield of 12.4%. The ex-dividend date of this dividend is Wednesday, March 11th. TELUS’s dividend payout ratio is 230.77%.

About TELUS

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.