Sumitomo Mitsui Trust Holdings Inc. decreased its position in TELUS Co. (NYSE:TU) (TSE:T) by 13.6% during the second quarter, Holdings Channel reports. The firm owned 879,148 shares of the Wireless communications provider’s stock after selling 138,140 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in TELUS were worth $32,506,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TU. Geode Capital Management LLC raised its position in TELUS by 15.3% in the fourth quarter. Geode Capital Management LLC now owns 508,484 shares of the Wireless communications provider’s stock valued at $16,807,000 after purchasing an additional 67,526 shares during the period. Heathbridge Capital Management Ltd. raised its position in TELUS by 2.1% in the first quarter. Heathbridge Capital Management Ltd. now owns 748,800 shares of the Wireless communications provider’s stock valued at $27,715,000 after purchasing an additional 15,400 shares during the period. CWM LLC raised its position in TELUS by 140.4% in the first quarter. CWM LLC now owns 84,266 shares of the Wireless communications provider’s stock valued at $3,121,000 after purchasing an additional 49,219 shares during the period. Northwest Bancshares Inc. raised its position in TELUS by 9.0% in the first quarter. Northwest Bancshares Inc. now owns 83,528 shares of the Wireless communications provider’s stock valued at $3,094,000 after purchasing an additional 6,862 shares during the period. Finally, Clean Yield Group raised its position in TELUS by 19.7% in the first quarter. Clean Yield Group now owns 127,360 shares of the Wireless communications provider’s stock valued at $4,717,000 after purchasing an additional 20,970 shares during the period. 51.41% of the stock is currently owned by institutional investors.

TELUS stock opened at $36.09 on Wednesday. TELUS Co. has a twelve month low of $32.46 and a twelve month high of $38.32. The stock’s fifty day moving average is $36.65. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 1.42. The stock has a market capitalization of $21.68 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 2.02 and a beta of 0.71.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.53 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). TELUS had a return on equity of 16.75% and a net margin of 11.91%. The company had revenue of $2.75 billion for the quarter, compared to analysts’ expectations of $2.69 billion. On average, equities research analysts expect that TELUS Co. will post 2.23 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.426 per share. The ex-dividend date is Monday, September 9th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.72%. This is a positive change from TELUS’s previous quarterly dividend of $0.42. TELUS’s dividend payout ratio is currently 78.04%.

A number of analysts have recently weighed in on TU shares. Canaccord Genuity lowered TELUS from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Zacks Investment Research raised TELUS from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Citigroup lowered TELUS from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 3rd. Bank of America reaffirmed a “hold” rating on shares of TELUS in a research report on Friday, May 10th. Finally, Barclays reaffirmed a “buy” rating and set a $41.00 price objective on shares of TELUS in a research report on Sunday, May 12th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. TELUS has a consensus rating of “Buy” and a consensus target price of $41.00.

About TELUS

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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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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