AHL Partners LLP Trims Stake in TELUS Corporation (TU)
AHL Partners LLP trimmed its position in TELUS Corporation (NYSE:TU) (TSE:T) by 5.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,763 shares of the Wireless communications provider’s stock after selling 6,641 shares during the quarter. AHL Partners LLP’s holdings in TELUS Corporation were worth $4,065,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of TU. Franklin Resources Inc. increased its holdings in shares of TELUS Corporation by 73.8% in the second quarter. Franklin Resources Inc. now owns 6,976,282 shares of the Wireless communications provider’s stock worth $240,943,000 after purchasing an additional 2,963,432 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of TELUS Corporation by 12.1% in the second quarter. Great West Life Assurance Co. Can now owns 7,486,696 shares of the Wireless communications provider’s stock worth $257,825,000 after purchasing an additional 806,613 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of TELUS Corporation by 22.9% in the first quarter. Renaissance Technologies LLC now owns 4,216,748 shares of the Wireless communications provider’s stock worth $136,967,000 after purchasing an additional 786,148 shares during the last quarter. Fiera Capital Corp increased its holdings in shares of TELUS Corporation by 34.6% in the second quarter. Fiera Capital Corp now owns 3,038,791 shares of the Wireless communications provider’s stock worth $104,724,000 after purchasing an additional 781,503 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of TELUS Corporation by 1,203.4% in the second quarter. Swiss National Bank now owns 762,500 shares of the Wireless communications provider’s stock worth $26,305,000 after purchasing an additional 704,000 shares during the last quarter. 50.82% of the stock is currently owned by hedge funds and other institutional investors.
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TU has been the topic of several research reports. BidaskClub raised TELUS Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. Zacks Investment Research cut TELUS Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Barclays PLC boosted their price objective on TELUS Corporation from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, August 14th. Finally, BMO Capital Markets boosted their price objective on TELUS Corporation from $46.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday, August 14th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. TELUS Corporation presently has a consensus rating of “Buy” and an average target price of $43.50.
Shares of TELUS Corporation (NYSE TU) opened at 35.80 on Monday. The firm’s 50-day moving average price is $35.97 and its 200 day moving average price is $34.56. The company has a market capitalization of $21.27 billion, a PE ratio of 20.83 and a beta of 0.89. TELUS Corporation has a 52 week low of $30.31 and a 52 week high of $36.94.
TELUS Corporation (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, August 11th. The Wireless communications provider reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.05). The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.26 billion. TELUS Corporation had a net margin of 9.55% and a return on equity of 18.75%. The firm’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.70 EPS. Equities analysts predict that TELUS Corporation will post $2.13 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 8th were issued a $0.3884 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.55 dividend on an annualized basis and a yield of 4.34%. TELUS Corporation’s payout ratio is 100.00%.
TELUS Corporation Profile
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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