TELUS Corporation $TU Shares Sold by Guardian Partners Inc.

Guardian Partners Inc. trimmed its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 16.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 396,789 shares of the Wireless communications provider’s stock after selling 76,859 shares during the quarter. Guardian Partners Inc.’s holdings in TELUS were worth $5,102,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Amundi raised its stake in TELUS by 0.8% in the first quarter. Amundi now owns 1,563,278 shares of the Wireless communications provider’s stock valued at $20,057,000 after buying an additional 11,814 shares during the last quarter. Parvin Asset Management LLC grew its stake in shares of TELUS by 119.8% during the first quarter. Parvin Asset Management LLC now owns 15,550 shares of the Wireless communications provider’s stock worth $200,000 after acquiring an additional 8,475 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of TELUS by 21.5% during the first quarter. The Manufacturers Life Insurance Company now owns 24,075,122 shares of the Wireless communications provider’s stock worth $309,159,000 after acquiring an additional 4,258,557 shares during the last quarter. Quantinno Capital Management LP increased its holdings in shares of TELUS by 51.4% during the first quarter. Quantinno Capital Management LP now owns 360,212 shares of the Wireless communications provider’s stock valued at $4,620,000 after acquiring an additional 122,274 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of TELUS during the first quarter valued at about $13,794,000. 49.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Raymond James Financial assumed coverage on shares of TELUS in a research report on Wednesday, July 15th. They issued a “market perform” rating for the company. TD Securities raised shares of TELUS from a “buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Weiss Ratings restated a “sell (d+)” rating on shares of TELUS in a research note on Friday, July 17th. Barclays set a $12.00 price target on shares of TELUS and gave the stock an “equal weight” rating in a report on Thursday, July 16th. Finally, Wall Street Zen upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $15.67.

TELUS Trading Up 2.7%

Shares of NYSE:TU opened at $10.69 on Wednesday. TELUS Corporation has a 52-week low of $9.95 and a 52-week high of $16.72. The stock has a market cap of $16.82 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 8.07 and a beta of 0.63. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 1.59. The business has a 50-day moving average price of $11.31 and a 200-day moving average price of $12.51.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a return on equity of 8.29% and a net margin of 4.54%.The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.26 earnings per share. Equities analysts predict that TELUS Corporation will post 0.72 EPS for the current year.

TELUS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th were given a dividend of $0.4184 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.67 dividend on an annualized basis and a yield of 15.7%. TELUS’s dividend payout ratio (DPR) is currently 275.00%.

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.