TELUS Corporation $TU Shares Sold by Caitong International Asset Management Co. Ltd

Caitong International Asset Management Co. Ltd decreased its position in TELUS Corporation (NYSE:TU) (TSE:T) by 77.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,105 shares of the Wireless communications provider’s stock after selling 7,221 shares during the period. Caitong International Asset Management Co. Ltd’s holdings in TELUS were worth $34,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its position in shares of TELUS by 26.1% in the second quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after acquiring an additional 667 shares in the last quarter. CWM LLC lifted its position in shares of TELUS by 169.6% in the second quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock valued at $59,000 after acquiring an additional 2,301 shares in the last quarter. Trust Co. of Vermont lifted its position in shares of TELUS by 10.5% in the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider’s stock valued at $121,000 after acquiring an additional 800 shares in the last quarter. Golden State Equity Partners purchased a new stake in shares of TELUS in the second quarter valued at $161,000. Finally, TD Private Client Wealth LLC lifted its position in shares of TELUS by 175.4% in the first 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 in the last quarter. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TU. Scotiabank restated an “outperform” rating on shares of TELUS in a research report on Tuesday, July 15th. Weiss Ratings restated a “hold (c)” rating on shares of TELUS in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.50.

TELUS Stock Performance

TELUS stock opened at $15.06 on Monday. The stock’s 50-day moving average is $15.86 and its 200-day moving average is $15.87. The company has a market cap of $23.11 billion, a price-to-earnings ratio of 32.73, a price-to-earnings-growth ratio of 4.48 and a beta of 0.71. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.86 and a quick ratio of 0.81. TELUS Corporation has a 12 month low of $13.24 and a 12 month high of $16.74.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations 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 quarter last year, the business earned $0.25 earnings per share. Equities analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th were issued a $0.3019 dividend. This is a positive change from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, September 10th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 8.0%. TELUS’s dividend payout ratio (DPR) is 263.04%.

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.