TELUS Corporation $TU Shares Sold by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc decreased its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 53.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 489,791 shares of the Wireless communications provider’s stock after selling 564,824 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in TELUS were worth $7,719,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of TU. Lorne Steinberg Wealth Management Inc. purchased a new stake in shares of TELUS in the third quarter valued at about $5,858,000. Intact Investment Management Inc. grew its stake in shares of TELUS by 9.6% in the 3rd quarter. Intact Investment Management Inc. now owns 2,432,862 shares of the Wireless communications provider’s stock valued at $38,323,000 after buying an additional 212,500 shares during the period. CIBC Asset Management Inc increased its holdings in shares of TELUS by 9.1% during the 3rd quarter. CIBC Asset Management Inc now owns 18,764,954 shares of the Wireless communications provider’s stock worth $295,645,000 after buying an additional 1,566,983 shares during the last quarter. Vest Financial LLC raised its position in shares of TELUS by 62.9% during the 3rd quarter. Vest Financial LLC now owns 181,389 shares of the Wireless communications provider’s stock valued at $2,861,000 after buying an additional 70,006 shares during the period. Finally, Triasima Portfolio Management inc. acquired a new position in TELUS in the third quarter valued at approximately $1,576,000. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Stock Performance

Shares of TELUS stock opened at $13.86 on Tuesday. The business has a 50-day simple moving average of $13.17 and a 200-day simple moving average of $14.85. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.71 and a current ratio of 0.76. TELUS Corporation has a one year low of $12.54 and a one year high of $16.74. The company has a market cap of $21.46 billion, a PE ratio of 25.20, a P/E/G ratio of 2.09 and a beta of 0.66.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). TELUS had a net margin of 5.71% and a return on equity of 8.76%. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis. On average, equities research analysts forecast that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th were paid a dividend of $0.4184 per share. This represents a $1.67 annualized dividend and a dividend yield of 12.1%. This is a boost from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, December 11th. TELUS’s dividend payout ratio (DPR) is currently 218.18%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TU shares. Canaccord Genuity Group upgraded shares of TELUS from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. National Bank Financial raised shares of TELUS from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, November 19th. Barclays decreased their price objective on shares of TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, November 10th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $19.00 price objective (down previously from $22.00) on shares of TELUS in a research report on Tuesday, November 18th. Finally, Natl Bk Canada raised TELUS from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, TELUS currently has an average rating of “Moderate Buy” and an average price target of $18.17.

TELUS Company Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.