TELUS Co. (NYSE:TU) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 0.2% in the 4th quarter, HoldingsChannel reports. The fund owned 1,397,374 shares of the Wireless communications provider’s stock after selling 3,200 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in TELUS were worth $24,949,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triasima Portfolio Management inc. grew its holdings in TELUS by 1,824.2% during the 4th quarter. Triasima Portfolio Management inc. now owns 788,077 shares of the Wireless communications provider’s stock worth $14,050,000 after acquiring an additional 747,120 shares in the last quarter. Ingalls & Snyder LLC grew its holdings in TELUS by 5.8% during the 4th quarter. Ingalls & Snyder LLC now owns 18,180 shares of the Wireless communications provider’s stock worth $323,000 after acquiring an additional 1,000 shares in the last quarter. VAUGHAN & Co SECURITIES INC. grew its holdings in TELUS by 43.0% during the 4th quarter. VAUGHAN & Co SECURITIES INC. now owns 42,493 shares of the Wireless communications provider’s stock worth $756,000 after acquiring an additional 12,781 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in TELUS during the 4th quarter worth approximately $33,000. Finally, International Assets Investment Management LLC acquired a new position in TELUS during the 4th quarter worth approximately $298,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on TU shares. Scotiabank restated a “sector perform” rating and issued a $26.00 target price (down previously from $28.00) on shares of TELUS in a report on Monday, March 25th. JPMorgan Chase & Co. cut shares of TELUS from an “overweight” rating to a “neutral” rating in a report on Thursday, January 4th. StockNews.com cut shares of TELUS from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Finally, BMO Capital Markets lowered their target price on shares of TELUS from $27.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, TELUS has a consensus rating of “Hold” and a consensus price target of $27.72.

TELUS Stock Up 0.9 %

Shares of NYSE:TU opened at $15.92 on Monday. The stock has a market cap of $23.50 billion, a P/E ratio of 37.02, a P/E/G ratio of 1.94 and a beta of 0.72. The firm has a fifty day moving average price of $16.75 and a 200 day moving average price of $17.28. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.62. TELUS Co. has a 1-year low of $15.35 and a 1-year high of $21.34.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, February 9th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.24 billion. TELUS had a net margin of 4.18% and a return on equity of 7.81%. TELUS’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. Sell-side analysts predict that TELUS Co. will post 0.76 EPS for the current year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a $0.2793 dividend. This is a boost from TELUS’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 7.02%. The ex-dividend date was Friday, March 8th. TELUS’s payout ratio is currently 258.14%.

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.