TELUS Co. (NYSE:TU) Stock Position Reduced by Cerity Partners LLC

Cerity Partners LLC trimmed its position in TELUS Co. (NYSE:TU) (TSE:T) by 12.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,191 shares of the Wireless communications provider’s stock after selling 5,150 shares during the quarter. Cerity Partners LLC’s holdings in TELUS were worth $521,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of TELUS by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider’s stock valued at $349,841,000 after purchasing an additional 903,921 shares during the last quarter. Norges Bank bought a new position in TELUS during the 4th quarter worth $70,212,000. Scheer Rowlett & Associates Investment Management Ltd. increased its position in TELUS by 5.2% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,403,521 shares of the Wireless communications provider’s stock worth $46,088,000 after buying an additional 169,577 shares during the period. Geode Capital Management LLC lifted its stake in TELUS by 29.8% in the fourth quarter. Geode Capital Management LLC now owns 3,032,404 shares of the Wireless communications provider’s stock valued at $42,389,000 after buying an additional 696,744 shares during the last quarter. Finally, Mufg Securities Canada LTD. boosted its holdings in shares of TELUS by 68.9% during the fourth quarter. Mufg Securities Canada LTD. now owns 2,236,163 shares of the Wireless communications provider’s stock valued at $30,299,000 after acquiring an additional 912,277 shares during the period. 49.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Cormark downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Bank of America downgraded 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 report on Monday, February 10th. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, TELUS has an average rating of “Hold”.

TELUS Trading Up 1.0 %

Shares of NYSE:TU opened at $15.16 on Tuesday. TELUS Co. has a twelve month low of $13.24 and a twelve month high of $17.27. 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 has a market cap of $22.95 billion, a P/E ratio of 30.94, a P/E/G ratio of 5.18 and a beta of 0.70. The company has a 50 day moving average of $14.88 and a 200-day moving average of $14.92.

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

TELUS Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th were paid a $0.2829 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.13 annualized dividend and a dividend yield of 7.46%. TELUS’s dividend payout ratio is currently 226.53%.

TELUS 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.