Cwm LLC Reduces Stake in TELUS Co. (NYSE:TU)

Cwm LLC lowered its holdings in TELUS Co. (NYSE:TU – Get Rating) (TSE:T) by 43.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,376 shares of the Wireless communications provider’s stock after selling 1,070 shares during the quarter. Cwm LLC’s holdings in TELUS were worth $27,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mackenzie Financial Corp raised its position in shares of TELUS by 19.3% in the 3rd quarter. Mackenzie Financial Corp now owns 55,063,043 shares of the Wireless communications provider’s stock worth $1,092,183,000 after acquiring an additional 8,888,682 shares in the last quarter. Fiera Capital Corp raised its position in shares of TELUS by 21.8% in the 2nd quarter. Fiera Capital Corp now owns 13,351,134 shares of the Wireless communications provider’s stock worth $297,463,000 after acquiring an additional 2,385,725 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of TELUS by 13.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,592,592 shares of the Wireless communications provider’s stock worth $302,731,000 after acquiring an additional 1,595,430 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of TELUS by 31.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 6,548,065 shares of the Wireless communications provider’s stock worth $145,534,000 after acquiring an additional 1,564,937 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of TELUS by 55.4% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 4,212,143 shares of the Wireless communications provider’s stock worth $93,618,000 after acquiring an additional 1,501,062 shares in the last quarter. Hedge funds and other institutional investors own 51.42% of the company’s stock.

TELUS Price Performance

NYSE:TU opened at $21.26 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.17. The business’s 50-day simple moving average is $20.62 and its two-hundred day simple moving average is $21.37. The stock has a market cap of $29.49 billion, a PE ratio of 18.65, a P/E/G ratio of 1.99 and a beta of 0.70. TELUS Co. has a 52 week low of $18.85 and a 52 week high of $27.50.

TELUS (NYSE:TU – Get Rating) (TSE:T) last posted its quarterly earnings results on Friday, November 4th. The Wireless communications provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.01. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.51 billion. TELUS had a return on equity of 9.76% and a net margin of 11.04%. As a group, analysts forecast that TELUS Co. will post 0.92 EPS for the current fiscal year.

TELUS Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Friday, December 9th were issued a $0.258 dividend. The ex-dividend date was Thursday, December 8th. This represents a $1.03 annualized dividend and a dividend yield of 4.85%. TELUS’s dividend payout ratio (DPR) is 92.11%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. CIBC raised TELUS from a “neutral” rating to an “outperform” rating in a research report on Thursday, January 12th. BMO Capital Markets cut their target price on TELUS from C$35.00 to C$33.00 in a research note on Tuesday, January 3rd. National Bank Financial cut their target price on TELUS from C$34.00 to C$31.00 in a research note on Thursday, January 12th. StockNews.com started coverage on TELUS in a research note on Wednesday, October 12th. They set a “sell” rating on the stock. Finally, Scotiabank increased their target price on TELUS from C$31.50 to C$32.00 in a research note on Monday, November 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, TELUS has a consensus rating of “Hold” and a consensus target price of $32.06.

TELUS Profile

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TELUS Corp. is a telecommunications company, which engages in the provision of telecommunication services and products primarily for wireless and wireline voice and data. It operates through the following segments: TELUS Technology Solutions (TTech) and Digitally-led Customer ExperiencesTELUS International (DLCX).