PensionDanmark Pensionsforsikringsaktieselskab Buys 86,268 Shares of TELUS Corporation $TU

PensionDanmark Pensionsforsikringsaktieselskab grew its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 76.5% in the second quarter, Holdings Channel reports. The institutional investor owned 199,076 shares of the Wireless communications provider’s stock after purchasing an additional 86,268 shares during the period. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in TELUS were worth $2,133,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Manchester Capital Management LLC raised its holdings in TELUS by 320.0% in the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after acquiring an additional 1,712 shares in the last quarter. Flagship Harbor Advisors LLC bought a new stake in shares of TELUS in the 4th quarter worth approximately $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of TELUS by 129.0% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock worth $33,000 after purchasing an additional 1,393 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of TELUS during the fourth quarter valued at approximately $55,000. Finally, State of Wyoming bought a new stake in shares of TELUS during the second quarter valued at approximately $61,000. Institutional investors own 49.40% of the company’s stock.

TELUS Stock Performance

NYSE TU opened at $9.58 on Tuesday. TELUS Corporation has a 1-year low of $9.20 and a 1-year high of $16.72. The company has a 50 day moving average of $10.85 and a 200-day moving average of $12.29. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.88. The firm has a market cap of $15.08 billion, a price-to-earnings ratio of -23.37, a PEG ratio of 9.55 and a beta of 0.64.

TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%. On average, equities analysts forecast that TELUS Corporation will post 0.57 earnings per share for the current fiscal year.

TELUS Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be paid a $0.1875 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 7.8%. TELUS’s dividend payout ratio (DPR) is -295.12%.

Analyst Ratings Changes

Several brokerages recently commented on TU. Wall Street Zen cut TELUS from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Barclays set a $11.00 price target on shares of TELUS and gave the company an “equal weight” rating in a report on Tuesday, August 4th. Scotiabank reaffirmed a “sector perform” rating on shares of TELUS in a report on Monday, August 3rd. TD Securities reiterated a “buy” rating on shares of TELUS in a research report on Monday, August 3rd. Finally, National Bank Financial lowered shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, TELUS currently has a consensus rating of “Reduce” and a consensus target price of $15.33.

About TELUS

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.