TELUS Corporation $TU Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management cut its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 9.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,893,312 shares of the Wireless communications provider’s stock after selling 300,675 shares during the period. Picton Mahoney Asset Management’s holdings in TELUS were worth $45,564,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in shares of TELUS by 20.8% during the second quarter. Geode Capital Management LLC now owns 4,529,471 shares of the Wireless communications provider’s stock worth $76,335,000 after acquiring an additional 780,607 shares during the period. Scotia Capital Inc. boosted its holdings in TELUS by 1.6% in the second quarter. Scotia Capital Inc. now owns 18,842,084 shares of the Wireless communications provider’s stock valued at $302,519,000 after purchasing an additional 288,532 shares during the period. Prudential PLC purchased a new position in TELUS in the second quarter valued at $531,000. SG Americas Securities LLC acquired a new position in TELUS during the 2nd quarter worth $457,000. Finally, Summit Global Investments purchased a new stake in TELUS during the 3rd quarter worth about $894,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. TD Securities reiterated a “buy” rating on shares of TELUS in a research note on Friday, February 13th. Canaccord Genuity Group raised shares of TELUS from a “hold” rating to a “buy” rating in a report on Thursday, December 4th. Barclays decreased their price target on shares of TELUS from $15.00 to $14.00 and set an “equal weight” rating for the company in a research note on Monday, November 10th. BMO Capital Markets cut shares of TELUS from an “outperform” rating to a “market perform” rating in a report on Thursday, December 11th. Finally, Citigroup raised shares of TELUS to a “buy” rating in a research report on Thursday, December 4th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, TELUS currently has an average rating of “Hold” and a consensus price target of $18.17.

TELUS Price Performance

TU stock opened at $13.72 on Wednesday. The business has a 50 day moving average price of $13.57 and a 200 day moving average price of $14.41. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.65. The stock has a market cap of $21.25 billion, a price-to-earnings ratio of 26.39, a PEG ratio of 1.59 and a beta of 0.68. TELUS Corporation has a fifty-two week low of $12.54 and a fifty-two week high of $16.74.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.85 billion. TELUS had a return on equity of 8.42% and a net margin of 5.42%.During the same period in the previous year, the business posted $0.25 EPS. Equities research analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be given a $0.4184 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $1.67 dividend on an annualized basis and a yield of 12.2%. TELUS’s payout ratio is 230.77%.

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.