Rhumbline Advisers Cuts Stake in TELUS Corporation $TU

Rhumbline Advisers lessened its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,354 shares of the Wireless communications provider’s stock after selling 2,293 shares during the quarter. Rhumbline Advisers’ holdings in TELUS were worth $1,597,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake in shares of TELUS by 71.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock valued at $33,000 after purchasing an additional 971 shares during the last quarter. NBC Securities Inc. lifted its stake in shares of TELUS by 112,425.0% during the 1st 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 during the last quarter. Trust Co. of Vermont raised its position in TELUS by 10.5% during 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 in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in TELUS during the 1st quarter valued at $134,000. Finally, TD Private Client Wealth LLC increased its holdings 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 acquiring an additional 6,624 shares during the period. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Scotiabank restated an “outperform” rating on shares of TELUS in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $21.50.

TELUS Stock Performance

Shares of TU stock opened at $15.81 on Friday. The stock has a market cap of $24.26 billion, a PE ratio of 34.36, a price-to-earnings-growth ratio of 4.69 and a beta of 0.72. TELUS Corporation has a 52-week low of $13.24 and a 52-week high of $16.96. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72. The business has a 50-day simple moving average of $16.27 and a 200-day simple moving average of $15.71.

TELUS (NYSE:TU) (TSE:T) last released its quarterly 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 business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.63 billion. TELUS had a return on equity of 9.10% and a net margin of 4.67%.The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. On average, equities analysts expect that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.3019 per share. The ex-dividend date of this dividend is Wednesday, September 10th. 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 dividend yield of 7.6%. TELUS’s payout ratio is currently 260.87%.

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.