TELUS Co. (NYSE:TU) Shares Sold by Azimuth Capital Management LLC


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Azimuth Capital Management LLC reduced its stake in TELUS Co. (NYSE:TU) (TSE:T) by 36.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 190,540 shares of the Wireless communications provider’s stock after selling 108,221 shares during the period. Azimuth Capital Management LLC’s holdings in TELUS were worth $3,773,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. boosted its position in shares of TELUS by 61.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 339,597 shares of the Wireless communications provider’s stock worth $12,578,000 after buying an additional 128,989 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of TELUS by 21.2% during the third quarter. Envestnet Asset Management Inc. now owns 125,010 shares of the Wireless communications provider’s stock worth $2,200,000 after buying an additional 21,869 shares during the period. Baskin Financial Services Inc. raised its holdings in TELUS by 6.5% during the third quarter. Baskin Financial Services Inc. now owns 561,551 shares of the Wireless communications provider’s stock worth $9,874,000 after purchasing an additional 34,339 shares in the last quarter. Alberta Investment Management Corp raised its holdings in TELUS by 31.2% during the third quarter. Alberta Investment Management Corp now owns 3,718,300 shares of the Wireless communications provider’s stock worth $65,222,000 after purchasing an additional 884,700 shares in the last quarter. Finally, Strategic Blueprint LLC raised its holdings in TELUS by 7.7% during the third quarter. Strategic Blueprint LLC now owns 108,317 shares of the Wireless communications provider’s stock worth $1,907,000 after purchasing an additional 7,716 shares in the last quarter. Institutional investors own 49.53% of the company’s stock.

Several equities research analysts recently commented on TU shares. BMO Capital Markets boosted their target price on TELUS from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, February 12th. Canaccord Genuity reissued a “buy” rating on shares of TELUS in a research note on Friday, February 12th. TD Securities boosted their target price on shares of TELUS from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, February 12th. Zacks Investment Research downgraded shares of TELUS from a “hold” rating to a “strong sell” rating and set a $18.00 target price on the stock. in a research note on Monday, January 11th. Finally, National Bank Financial reissued an “outperform” rating on shares of TELUS in a research note on Friday, February 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $27.00.

Shares of TELUS stock traded down $0.02 on Tuesday, hitting $20.49. 63,761 shares of the company traded hands, compared to its average volume of 1,380,411. The company has a 50-day moving average price of $20.85 and a 200 day moving average price of $19.16. The company has a quick ratio of 0.72, a current ratio of 0.78 and a debt-to-equity ratio of 1.43. TELUS Co. has a 12-month low of $13.54 and a 12-month high of $21.61. The company has a market cap of $26.43 billion, a PE ratio of 25.96, a PEG ratio of 5.28 and a beta of 0.71.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Wednesday, February 10th. The Wireless communications provider reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. TELUS had a net margin of 8.51% and a return on equity of 12.02%. Equities research analysts anticipate that TELUS Co. will post 0.84 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 1st. Stockholders of record on Thursday, March 11th will be issued a dividend of $0.245 per share. This is a boost from TELUS’s previous quarterly dividend of $0.23. This represents a $0.98 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Wednesday, March 10th. TELUS’s payout ratio is currently 87.27%.

TELUS Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Wireless and Wireline segments. The Wireless segment offers a range of telecommunications products and services. Its wireless products and services include network revenue comprising data and voice; and equipment sales from mobile technologies.

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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