Korea Investment CORP lessened its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 29.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,660 shares of the Wireless communications provider’s stock after selling 7,900 shares during the period. Korea Investment CORP’s holdings in TELUS were worth $687,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TU. Janney Montgomery Scott LLC boosted its position in shares of TELUS by 29.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 22,521 shares of the Wireless communications provider’s stock worth $800,000 after purchasing an additional 5,156 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in TELUS by 10.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 26,502 shares of the Wireless communications provider’s stock valued at $941,000 after acquiring an additional 2,505 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in TELUS by 7.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 800,380 shares of the Wireless communications provider’s stock valued at $28,435,000 after acquiring an additional 54,159 shares in the last quarter. First Trust Advisors LP lifted its position in TELUS by 0.7% in the 2nd quarter. First Trust Advisors LP now owns 1,095,774 shares of the Wireless communications provider’s stock valued at $38,911,000 after acquiring an additional 8,115 shares in the last quarter. Finally, Virginia Retirement Systems ET AL lifted its position in TELUS by 97.1% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 279,900 shares of the Wireless communications provider’s stock valued at $9,937,000 after acquiring an additional 137,900 shares in the last quarter. Hedge funds and other institutional investors own 50.80% of the company’s stock.

Several research firms recently issued reports on TU. Zacks Investment Research reaffirmed a “sell” rating on shares of TELUS in a research report on Saturday, November 17th. Desjardins reaffirmed a “buy” rating on shares of TELUS in a research report on Sunday, October 21st. Barclays reaffirmed a “buy” rating and issued a $40.00 price objective on shares of TELUS in a research report on Sunday, November 11th. TD Securities reaffirmed a “buy” rating on shares of TELUS in a research report on Friday, November 9th. Finally, Scotiabank cut TELUS from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, October 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $47.67.

TU stock opened at $35.90 on Friday. The company has a market capitalization of $21.52 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 2.07 and a beta of 0.81. TELUS Co. has a 12-month low of $33.64 and a 12-month high of $38.20. The company has a current ratio of 0.83, a quick ratio of 0.76 and a debt-to-equity ratio of 1.31.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Thursday, November 8th. The Wireless communications provider reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. The business had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.59 billion. TELUS had a return on equity of 17.51% and a net margin of 10.82%. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 EPS. As a group, analysts forecast that TELUS Co. will post 2.17 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Tuesday, December 11th will be paid a dividend of $0.4158 per share. The ex-dividend date is Monday, December 10th. This is a positive change from TELUS’s previous quarterly dividend of $0.40. This represents a $1.66 dividend on an annualized basis and a yield of 4.63%. TELUS’s payout ratio is currently 79.31%.

ILLEGAL ACTIVITY WARNING: “TELUS Co. (TU) Holdings Cut by Korea Investment CORP” was published by Daily Political and is owned by of Daily Political. If you are viewing this piece on another website, it was copied illegally and republished in violation of United States and international trademark & copyright law. The original version of this piece can be accessed at https://www.dailypolitical.com/2018/12/08/telus-co-tu-holdings-cut-by-korea-investment-corp.html.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and security and cloud-based services; healthcare solutions; business process outsourcing; and security solutions.

Recommended Story: Is a Roth IRA right for you?

Want to see what other hedge funds are holding TU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TELUS Co. (NYSE:TU) (TSE:T).

Institutional Ownership by Quarter for TELUS (NYSE:TU)

Receive News & Ratings for TELUS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TELUS and related companies with MarketBeat.com's FREE daily email newsletter.