TELUS Co. (NYSE:TU) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its holdings in TELUS Co. (NYSE:TUFree Report) (TSE:T) by 27.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,186 shares of the Wireless communications provider’s stock after selling 18,988 shares during the quarter. Truist Financial Corp’s holdings in TELUS were worth $775,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of TU. Fairscale Capital LLC bought a new stake in shares of TELUS in the 2nd quarter worth approximately $27,000. Blue Trust Inc. increased its holdings in shares of TELUS by 60.4% in the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock valued at $41,000 after buying an additional 954 shares in the last quarter. Gulf International Bank UK Ltd lifted its position in shares of TELUS by 39.8% during the 1st quarter. Gulf International Bank UK Ltd now owns 2,752 shares of the Wireless communications provider’s stock valued at $44,000 after acquiring an additional 784 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of TELUS during the 1st quarter worth $58,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of TELUS in the 1st quarter worth $71,000. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Stock Down 0.4 %

Shares of TELUS stock opened at $16.13 on Tuesday. TELUS Co. has a 1 year low of $14.63 and a 1 year high of $19.14. The company has a market cap of $23.81 billion, a P/E ratio of 41.36, a P/E/G ratio of 2.43 and a beta of 0.74. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.46. The stock has a 50-day moving average price of $16.42 and a 200 day moving average price of $16.13.

TELUS (NYSE:TUGet Free Report) (TSE:T) last posted its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. TELUS had a net margin of 3.87% and a return on equity of 8.50%. The business had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, analysts expect that TELUS Co. will post 0.73 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were paid a $0.284 dividend. The ex-dividend date was Tuesday, September 10th. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.04%. TELUS’s dividend payout ratio is 294.87%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Canaccord Genuity Group lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.00.

View Our Latest Stock Analysis on TELUS

TELUS Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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