DORCHESTER WEALTH MANAGEMENT Co reduced its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 135,937 shares of the Wireless communications provider’s stock after selling 3,040 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in TELUS were worth $4,840,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc. boosted its holdings in TELUS by 2.3% in the second quarter. TD Asset Management Inc. now owns 24,307,989 shares of the Wireless communications provider’s stock valued at $900,511,000 after acquiring an additional 536,599 shares during the last quarter. Beutel Goodman & Co Ltd. boosted its holdings in TELUS by 100.4% in the second quarter. Beutel Goodman & Co Ltd. now owns 15,911,306 shares of the Wireless communications provider’s stock valued at $588,533,000 after acquiring an additional 7,969,596 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in TELUS by 0.9% in the second quarter. CIBC Asset Management Inc now owns 13,223,462 shares of the Wireless communications provider’s stock valued at $488,820,000 after acquiring an additional 115,222 shares during the last quarter. Vanguard Group Inc. boosted its holdings in TELUS by 2.8% in the second quarter. Vanguard Group Inc. now owns 6,389,843 shares of the Wireless communications provider’s stock valued at $235,848,000 after acquiring an additional 176,047 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in TELUS by 0.3% in the second quarter. Janus Henderson Group PLC now owns 3,478,106 shares of the Wireless communications provider’s stock valued at $128,664,000 after acquiring an additional 11,983 shares during the last quarter. Hedge funds and other institutional investors own 51.75% of the company’s stock.
TU has been the topic of a number of recent analyst reports. Bank of America upgraded TELUS from a “neutral” rating to a “buy” rating and set a $52.00 target price on the stock in a report on Monday, September 30th. Citigroup cut TELUS from a “buy” rating to a “neutral” rating in a report on Wednesday, July 3rd. Finally, Canaccord Genuity cut TELUS from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. TELUS currently has an average rating of “Buy” and a consensus target price of $46.50.
Shares of TU opened at $36.33 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 1.42. TELUS Co. has a 1 year low of $32.46 and a 1 year high of $38.32. The stock has a market cap of $21.75 billion, a P/E ratio of 16.98, a price-to-earnings-growth ratio of 2.60 and a beta of 0.68. The stock’s 50-day moving average price is $36.24 and its two-hundred day moving average price is $36.64.
TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.69 billion. TELUS had a return on equity of 16.75% and a net margin of 11.91%. As a group, equities analysts forecast that TELUS Co. will post 2.2 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were given a dividend of $0.426 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.69%. This is a positive change from TELUS’s previous quarterly dividend of $0.42. TELUS’s dividend payout ratio (DPR) is currently 78.97%.
TELUS Company Profile
TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.
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