TELUS Corporation $TU Shares Sold by Bayforest Capital Ltd

Bayforest Capital Ltd reduced its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 71.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,937 shares of the Wireless communications provider’s stock after selling 7,324 shares during the quarter. Bayforest Capital Ltd’s holdings in TELUS were worth $42,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in TU. Farther Finance Advisors LLC boosted its position in shares of TELUS by 71.9% during the 1st 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. boosted its position in shares of TELUS by 112,425.0% in the 1st quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider’s stock valued at $64,000 after purchasing an additional 4,497 shares during the period. Trust Co. of Vermont boosted its position in shares of TELUS by 10.5% in the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider’s stock valued at $121,000 after purchasing an additional 800 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in shares of TELUS in the 1st quarter valued at about $134,000. Finally, TD Private Client Wealth LLC boosted its position in shares of TELUS by 175.4% in the 1st quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider’s stock valued at $149,000 after purchasing an additional 6,624 shares during the period. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Stock Down 0.3%

Shares of NYSE TU opened at $15.96 on Friday. The stock has a market cap of $24.49 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 4.67 and a beta of 0.72. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72. TELUS Corporation has a 52-week low of $13.24 and a 52-week high of $17.26. The business has a 50-day moving average price of $16.32 and a 200 day moving average price of $15.70.

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

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.3019 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.21 annualized dividend and a yield of 7.6%. This is a boost from TELUS’s previous quarterly dividend of $0.30. TELUS’s dividend payout ratio (DPR) is currently 260.87%.

Wall Street Analyst Weigh In

Separately, Scotiabank reissued an “outperform” rating on shares of TELUS in a research report on Tuesday, July 15th. 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, TELUS currently has a consensus rating of “Hold” and an average target price of $21.50.

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.