Montrusco Bolton Investments Inc. Cuts Position in TELUS Corporation $TU

Montrusco Bolton Investments Inc. reduced its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 46.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 475,273 shares of the Wireless communications provider’s stock after selling 410,195 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in TELUS were worth $7,487,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TU. Norges Bank acquired a new stake in shares of TELUS in the 2nd quarter worth approximately $77,455,000. Arrowstreet Capital Limited Partnership boosted its position in TELUS by 114.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,450,381 shares of the Wireless communications provider’s stock worth $103,624,000 after purchasing an additional 3,439,940 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in TELUS in the second quarter valued at $51,091,000. AGF Management Ltd. increased its position in shares of TELUS by 313.3% in the second quarter. AGF Management Ltd. now owns 3,174,857 shares of the Wireless communications provider’s stock valued at $51,355,000 after buying an additional 2,406,734 shares in the last quarter. Finally, Fiera Capital Corp raised its stake in shares of TELUS by 10.7% during the 3rd quarter. Fiera Capital Corp now owns 17,867,796 shares of the Wireless communications provider’s stock worth $281,326,000 after buying an additional 1,725,982 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TU has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of TELUS in a research note on Monday, December 29th. Canaccord Genuity Group upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. BMO Capital Markets cut shares of TELUS from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 11th. Barclays reduced their target price on TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Finally, Scotiabank reissued an “outperform” rating on shares of TELUS in a research report on Tuesday, February 17th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $18.17.

TELUS Price Performance

TU stock opened at $13.47 on Thursday. The stock has a market capitalization of $20.84 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.60 and a beta of 0.67. The stock’s fifty day simple moving average is $13.49 and its 200-day simple moving average is $14.49. TELUS Corporation has a 52-week low of $12.54 and a 52-week high of $16.74. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.65.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). TELUS had a return on equity of 8.42% and a net margin of 5.42%.The business had revenue of $3.83 billion for the quarter, compared to analysts’ expectations of $3.85 billion. During the same quarter last year, the company posted $0.25 earnings per share. Equities research analysts expect that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be given a $0.4184 dividend. This represents a $1.67 annualized dividend and a dividend yield of 12.4%. The ex-dividend date of this dividend is Wednesday, March 11th. TELUS’s dividend payout ratio (DPR) is 230.77%.

TELUS Company Profile

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.