TD Asset Management Inc Has $484.18 Million Stock Holdings in TELUS Corporation $TU

TD Asset Management Inc trimmed its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 0.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,688,032 shares of the Wireless communications provider’s stock after selling 175,187 shares during the quarter. TD Asset Management Inc’s holdings in TELUS were worth $484,178,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in TELUS by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 29,470,046 shares of the Wireless communications provider’s stock worth $388,415,000 after purchasing an additional 916,459 shares during the period. Scotia Capital Inc. grew its holdings in TELUS by 4.5% in the third quarter. Scotia Capital Inc. now owns 19,687,766 shares of the Wireless communications provider’s stock worth $310,129,000 after purchasing an additional 845,682 shares during the period. Fiera Capital Corp grew its holdings in TELUS by 10.7% in the third quarter. Fiera Capital Corp now owns 17,867,796 shares of the Wireless communications provider’s stock worth $281,326,000 after purchasing an additional 1,725,982 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in TELUS by 40.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 9,033,455 shares of the Wireless communications provider’s stock worth $142,387,000 after purchasing an additional 2,583,074 shares during the period. Finally, First Trust Advisors LP grew its holdings in TELUS by 11.0% in the third quarter. First Trust Advisors LP now owns 7,478,636 shares of the Wireless communications provider’s stock worth $117,922,000 after purchasing an additional 743,471 shares during the period. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TU has been the subject of a number of analyst reports. Scotiabank cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, April 10th. TD Securities upgraded shares of TELUS from a “buy” rating to a “buy” rating in a report on Tuesday, April 28th. Weiss Ratings cut shares of TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th. Canaccord Genuity Group cut shares of TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. Finally, Bank of America upgraded shares of TELUS from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $14.50 to $16.00 in a report on Tuesday, March 10th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $16.33.

TELUS Stock Down 2.1%

TU opened at $12.29 on Thursday. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.67 and a quick ratio of 0.63. The company’s 50-day moving average is $12.50 and its 200 day moving average is $13.10. TELUS Corporation has a fifty-two week low of $11.69 and a fifty-two week high of $16.74. The firm has a market capitalization of $19.35 billion, a P/E ratio of 27.94, a PEG ratio of 12.34 and a beta of 0.61.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The company’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.26 earnings per share. Research analysts expect that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th will be given a $0.4184 dividend. The ex-dividend date of this dividend is Wednesday, June 10th. This represents a $1.67 annualized dividend and a yield of 13.6%. TELUS’s payout ratio is currently 279.55%.

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.