Envestnet Asset Management Inc. Reduces Stock Position in TELUS Co. (NYSE:TU)

Envestnet Asset Management Inc. reduced its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 15.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 398,602 shares of the Wireless communications provider’s stock after selling 75,339 shares during the quarter. Envestnet Asset Management Inc.’s holdings in TELUS were worth $5,405,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Versant Capital Management Inc grew its position in shares of TELUS by 195,100.0% in the 4th quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider’s stock worth $26,000 after acquiring an additional 1,951 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in TELUS by 1,756.0% in the fourth quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider’s stock worth $65,000 after purchasing an additional 4,548 shares during the period. Blueshift Asset Management LLC bought a new stake in TELUS during the fourth quarter valued at $142,000. Triasima Portfolio Management inc. acquired a new stake in shares of TELUS during the fourth quarter worth $146,000. Finally, Leo Wealth LLC bought a new position in shares of TELUS in the 4th quarter worth about $279,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TU shares. Cormark lowered shares of TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Bank of America cut TELUS from a “buy” rating to a “neutral” rating in a research report on Friday, March 21st. Finally, StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, TELUS presently has an average rating of “Hold”.

TELUS Price Performance

Shares of NYSE:TU opened at $15.16 on Tuesday. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. The firm’s 50 day moving average is $14.88 and its two-hundred day moving average is $14.92. The firm has a market capitalization of $22.95 billion, a P/E ratio of 30.94, a PEG ratio of 5.18 and a beta of 0.70. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $17.27.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. TELUS had a return on equity of 9.07% and a net margin of 4.85%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same period last year, the firm earned $0.10 EPS. Analysts anticipate that TELUS Co. will post 0.71 earnings per share for the current year.

TELUS Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were given a $0.2829 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a yield of 7.46%. TELUS’s dividend payout ratio is presently 226.53%.

About TELUS

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.