Northern Trust Corp Sells 9,238 Shares of TELUS Corporation $TU

Northern Trust Corp lessened its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 1.2% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 770,287 shares of the Wireless communications provider’s stock after selling 9,238 shares during the period. Northern Trust Corp owned about 0.05% of TELUS worth $11,046,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC raised its holdings in TELUS by 71.9% during the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock worth $33,000 after acquiring an additional 971 shares in the last quarter. NBC Securities Inc. raised its holdings in TELUS by 112,425.0% during the first quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider’s stock worth $64,000 after acquiring an additional 4,497 shares in the last quarter. Trust Co. of Vermont raised its holdings in TELUS by 10.5% during the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider’s stock worth $121,000 after acquiring an additional 800 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in TELUS during the first quarter worth about $134,000. Finally, TD Private Client Wealth LLC raised its holdings in TELUS by 175.4% during the first quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider’s stock worth $149,000 after acquiring an additional 6,624 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TU shares. National Bankshares reiterated a “sector perform” rating on shares of TELUS in a report on Monday, May 12th. Scotiabank reiterated an “outperform” rating on shares of TELUS in a report on Tuesday, July 15th. Finally, Canaccord Genuity Group upped their target price on TELUS from $20.25 to $21.50 and gave the stock a “hold” rating in a report on Monday, May 12th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $21.50.

TELUS Price Performance

Shares of NYSE TU opened at $16.43 on Friday. The firm has a market cap of $25.05 billion, a P/E ratio of 35.71, a price-to-earnings-growth ratio of 4.84 and a beta of 0.72. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. TELUS Corporation has a 1-year low of $13.24 and a 1-year high of $17.26. The business’s 50 day moving average is $16.31 and its 200-day moving average is $15.67.

TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. TELUS had a return on equity of 9.10% and a net margin of 4.67%.TELUS’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the business posted $0.25 EPS. Equities research analysts predict that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a dividend of $0.3019 per share. This is an increase from TELUS’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend is Wednesday, September 10th. TELUS’s dividend payout ratio (DPR) is currently 263.04%.

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.