Trust Co. of Vermont Trims Holdings in TELUS Corporation $TU

Trust Co. of Vermont trimmed its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 7.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,757 shares of the Wireless communications provider’s stock after selling 666 shares during the period. Trust Co. of Vermont’s holdings in TELUS were worth $125,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TU. Community Bank & Trust Waco Texas raised its stake in TELUS by 5.6% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 50,333 shares of the Wireless communications provider’s stock valued at $808,000 after purchasing an additional 2,671 shares during the period. Truist Financial Corp grew its holdings in TELUS by 3.5% during the 2nd quarter. Truist Financial Corp now owns 39,397 shares of the Wireless communications provider’s stock valued at $633,000 after buying an additional 1,331 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in shares of TELUS by 272.1% during the second quarter. Public Employees Retirement System of Ohio now owns 396,131 shares of the Wireless communications provider’s stock valued at $6,361,000 after buying an additional 289,662 shares during the last quarter. Golden State Equity Partners bought a new stake in shares of TELUS during the second quarter valued at approximately $161,000. Finally, Walter Public Investments Inc. lifted its holdings in shares of TELUS by 2.0% in the second quarter. Walter Public Investments Inc. now owns 38,584 shares of the Wireless communications provider’s stock worth $620,000 after buying an additional 765 shares in the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analysts Set New Price Targets

Separately, Scotiabank reissued an “outperform” rating on shares of TELUS in a report on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $21.50.

TELUS Stock Down 1.5%

Shares of NYSE TU opened at $15.59 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. TELUS Corporation has a 12-month low of $13.24 and a 12-month high of $16.74. The firm’s 50-day moving average price is $16.13 and its 200-day moving average price is $15.74. The stock has a market capitalization of $23.92 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 4.62 and a beta of 0.71.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). TELUS had a return on equity of 9.10% and a net margin of 4.67%.The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the firm earned $0.25 earnings per share. The company’s revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts anticipate that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th were issued a dividend of $0.3019 per share. This represents a $1.21 annualized dividend and a yield of 7.7%. The ex-dividend date was Wednesday, September 10th. This is a boost from TELUS’s previous quarterly dividend of $0.30. TELUS’s payout ratio is currently 263.04%.

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 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.