Lincluden Management Ltd. Reduces Position in TELUS Corporation $TU

Lincluden Management Ltd. trimmed its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 1.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,912,479 shares of the Wireless communications provider’s stock after selling 30,113 shares during the period. TELUS accounts for approximately 3.4% of Lincluden Management Ltd.’s portfolio, making the stock its 11th biggest position. Lincluden Management Ltd.’s holdings in TELUS were worth $30,687,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position 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 buying an additional 971 shares during the last quarter. Blue Trust Inc. grew its position in shares of TELUS by 26.1% in the 2nd quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after buying an additional 667 shares during the last quarter. Trust Co. of Vermont grew its position in shares of TELUS by 10.5% in the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider’s stock valued at $121,000 after buying an additional 800 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of TELUS in the 1st quarter valued at $134,000. Finally, Golden State Equity Partners purchased a new position in shares of TELUS in the 2nd quarter valued at $161,000. 49.40% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TU. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TELUS in a research report on Wednesday. Scotiabank reaffirmed an “outperform” rating on shares of TELUS in a research report on Tuesday, July 15th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, TELUS has an average rating of “Hold” and an average price target of $21.50.

TELUS Trading Up 0.5%

Shares of TELUS stock opened at $15.24 on Friday. TELUS Corporation has a 1 year low of $13.24 and a 1 year high of $16.74. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.81 and a current ratio of 0.86. The company has a market capitalization of $23.39 billion, a P/E ratio of 33.13, a PEG ratio of 4.52 and a beta of 0.71. The company’s fifty day moving average is $16.04 and its two-hundred day moving average is $15.79.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). TELUS had a return on equity of 9.10% and a net margin of 4.67%.The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.63 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th were paid a $0.3019 dividend. This is a boost from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, September 10th. This represents a $1.21 annualized dividend and a dividend yield of 7.9%. TELUS’s dividend payout ratio (DPR) is 263.04%.

TELUS 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.