Korea Investment CORP reduced its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 12.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,417 shares of the Wireless communications provider’s stock after selling 3,767 shares during the period. Korea Investment CORP’s holdings in TELUS Corporation were worth $948,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TU. Raymond James Financial Services Advisors Inc. raised its holdings in TELUS Corporation by 1.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 24,907 shares of the Wireless communications provider’s stock valued at $860,000 after buying an additional 237 shares during the period. Financial Counselors Inc. boosted its holdings in TELUS Corporation by 3.6% in the second quarter. Financial Counselors Inc. now owns 6,840 shares of the Wireless communications provider’s stock worth $236,000 after purchasing an additional 240 shares during the period. Creative Planning boosted its holdings in TELUS Corporation by 2.9% in the second quarter. Creative Planning now owns 11,796 shares of the Wireless communications provider’s stock worth $407,000 after purchasing an additional 333 shares during the period. DORCHESTER WEALTH MANAGEMENT Co boosted its holdings in shares of TELUS Corporation by 0.4% during the second quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 148,508 shares of the Wireless communications provider’s stock valued at $5,123,000 after acquiring an additional 605 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of TELUS Corporation by 6.4% during the second quarter. Janney Montgomery Scott LLC now owns 10,114 shares of the Wireless communications provider’s stock valued at $349,000 after acquiring an additional 611 shares during the period. Institutional investors and hedge funds own 51.02% of the company’s stock.

A number of brokerages recently weighed in on TU. Zacks Investment Research cut shares of TELUS Corporation from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Scotiabank raised TELUS Corporation from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, October 25th. Barclays PLC lifted their price target on TELUS Corporation from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 14th. BMO Capital Markets boosted their price target on TELUS Corporation from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. Finally, BidaskClub raised TELUS Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. One investment analyst has rated the stock with a sell rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $43.50.

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Shares of TELUS Corporation (TU) opened at $36.60 on Tuesday. TELUS Corporation has a 1-year low of $30.31 and a 1-year high of $37.26. The company has a quick ratio of 0.47, a current ratio of 0.54 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $21,633.48, a P/E ratio of 18.49, a P/E/G ratio of 2.17 and a beta of 0.92.

TELUS Corporation (NYSE:TU) (TSE:T) last posted its earnings results on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.05). TELUS Corporation had a return on equity of 18.75% and a net margin of 9.55%. The company had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm posted $0.70 earnings per share. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. analysts predict that TELUS Corporation will post 2.09 earnings per share for the current year.

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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