TD Waterhouse Canada Inc. Sells 6,050,218 Shares of TELUS Corporation $TU

TD Waterhouse Canada Inc. decreased its position in TELUS Corporation (NYSE:TU) (TSE:T) by 29.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,385,284 shares of the Wireless communications provider’s stock after selling 6,050,218 shares during the period. TD Waterhouse Canada Inc. owned 0.91% of TELUS worth $151,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TU. Bank of Nova Scotia bought a new stake in TELUS during the 2nd quarter valued at $255,178,000. FIL Ltd grew its position in shares of TELUS by 112.9% during the 4th quarter. FIL Ltd now owns 30,300,204 shares of the Wireless communications provider’s stock worth $399,352,000 after buying an additional 16,066,539 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of TELUS by 258.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 19,816,565 shares of the Wireless communications provider’s stock valued at $261,727,000 after buying an additional 14,285,486 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of TELUS during the second quarter valued at $100,492,000. Finally, Bank of America Corp DE bought a new stake in shares of TELUS in the second quarter valued at about $75,058,000. Institutional investors own 49.40% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on TU shares. Bank of America reaffirmed an “underperform” rating on shares of TELUS in a research note on Tuesday, August 4th. National Bank Financial downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, August 4th. Weiss Ratings cut shares of TELUS from a “sell (d+)” rating to a “sell (d)” rating in a research report on Wednesday, August 5th. Desjardins downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Scotiabank reissued a “sector perform” rating on shares of TELUS in a research note on Monday, August 3rd. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, TELUS presently has an average rating of “Reduce” and an average target price of $15.33.

TELUS Stock Performance

TU stock opened at $9.73 on Friday. The firm has a market cap of $15.32 billion, a price-to-earnings ratio of -23.73, a PEG ratio of 13.10 and a beta of 0.63. The firm has a 50-day simple moving average of $10.09 and a two-hundred day simple moving average of $11.75. TELUS Corporation has a one year low of $9.20 and a one year high of $16.65. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.62 and a current ratio of 0.67.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%.The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. On average, equities analysts forecast that TELUS Corporation will post 0.41 EPS for the current fiscal year.

TELUS Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.1875 per share. This represents a $0.75 annualized dividend and a yield of 7.7%. The ex-dividend date is Thursday, September 10th. TELUS’s payout ratio is presently -295.12%.

TELUS 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.