TD Asset Management Inc Has $484.18 Million Stock Position in TELUS Corporation $TU

TD Asset Management Inc lessened its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,688,032 shares of the Wireless communications provider’s stock after selling 175,187 shares during the period. TD Asset Management Inc owned about 2.37% of TELUS worth $484,178,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC acquired a new position in shares of TELUS during the 4th quarter worth approximately $33,000. State of Wyoming acquired a new position in shares of TELUS during the 2nd quarter worth approximately $61,000. Employees Retirement System of Texas acquired a new position in shares of TELUS during the 3rd quarter worth approximately $64,000. Northwestern Mutual Wealth Management Co. grew its position in shares of TELUS by 37.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 4,585 shares of the Wireless communications provider’s stock worth $72,000 after purchasing an additional 1,241 shares in the last quarter. Finally, One Capital Management LLC acquired a new position in shares of TELUS during the 4th quarter worth approximately $137,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Trading Down 2.1%

Shares of NYSE TU opened at $12.29 on Thursday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.63 and a current ratio of 0.67. TELUS Corporation has a 52-week low of $11.69 and a 52-week high of $16.74. The firm has a 50 day moving average price of $12.50 and a two-hundred day moving average price of $13.10. The stock has a market cap of $19.35 billion, a P/E ratio of 27.94, a price-to-earnings-growth ratio of 12.34 and a beta of 0.61.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The firm had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same period in the prior year, the company posted $0.26 EPS. The company’s revenue was down .6% on a year-over-year basis. As a group, equities analysts forecast that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.4184 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.67 annualized dividend and a dividend yield of 13.6%. TELUS’s dividend payout ratio is 279.55%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. TD Securities upgraded shares of TELUS from a “buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Scotiabank downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, April 10th. Bank of America raised shares of TELUS from a “neutral” rating to a “buy” rating and upped their price target for the stock from $14.50 to $16.00 in a report on Tuesday, March 10th. Finally, Canaccord Genuity Group downgraded shares of TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, TELUS currently has a consensus rating of “Hold” and an average price target of $16.33.

About TELUS

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.