TELUS Corporation $TU Shares Sold by Groupama Asset Managment

Groupama Asset Managment lessened its holdings in TELUS Corporation (NYSE:TU) (TSE:T) by 83.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,848 shares of the Wireless communications provider’s stock after selling 56,118 shares during the quarter. Groupama Asset Managment’s holdings in TELUS were worth $156,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TU. Mackenzie Financial Corp boosted its holdings in TELUS by 22.6% in the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider’s stock worth $667,840,000 after acquiring an additional 9,068,181 shares in the last quarter. Man Group plc lifted its holdings in shares of TELUS by 68.2% during the fourth quarter. Man Group plc now owns 2,099,097 shares of the Wireless communications provider’s stock worth $28,463,000 after purchasing an additional 850,876 shares during the period. Scotia Capital Inc. lifted its holdings in shares of TELUS by 4.7% during the first quarter. Scotia Capital Inc. now owns 18,553,552 shares of the Wireless communications provider’s stock worth $266,146,000 after purchasing an additional 831,282 shares during the period. Forge First Asset Management Inc. acquired a new stake in shares of TELUS during the first quarter worth about $8,937,000. Finally, Janus Henderson Group PLC lifted its holdings in shares of TELUS by 9.2% during the fourth quarter. Janus Henderson Group PLC now owns 7,320,442 shares of the Wireless communications provider’s stock worth $99,179,000 after purchasing an additional 618,623 shares during the period. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TU shares. Scotiabank reaffirmed an “outperform” rating on shares of TELUS in a report on Tuesday, July 15th. Canaccord Genuity Group lifted their target price on TELUS from $20.25 to $21.50 and gave the stock a “hold” rating in a report on Monday, May 12th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of TELUS in a report on Monday, May 12th. One investment analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.50.

TELUS Stock Up 0.1%

Shares of TU stock opened at $16.56 on Friday. The stock has a 50 day moving average of $16.22 and a 200 day moving average of $15.55. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. The stock has a market cap of $25.25 billion, a P/E ratio of 36.00, a P/E/G ratio of 4.87 and a beta of 0.73. TELUS Corporation has a twelve month low of $13.24 and a twelve month high of $17.26.

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

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a dividend of $0.3019 per share. This is an increase from TELUS’s previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a yield of 7.3%. The ex-dividend date is Wednesday, September 10th. TELUS’s dividend payout ratio (DPR) is 263.04%.

About TELUS

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.