Heathbridge Capital Management Ltd. Reduces Stake in TELUS Co. (NYSE:TU)

Heathbridge Capital Management Ltd. cut its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 9.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 809,700 shares of the Wireless communications provider’s stock after selling 81,400 shares during the quarter. TELUS comprises 5.2% of Heathbridge Capital Management Ltd.’s investment portfolio, making the stock its 8th largest holding. Heathbridge Capital Management Ltd. owned approximately 0.05% of TELUS worth $12,252,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Capital Research Global Investors increased its stake in TELUS by 215.8% during the fourth quarter. Capital Research Global Investors now owns 22,214,210 shares of the Wireless communications provider’s stock valued at $395,314,000 after acquiring an additional 15,179,110 shares during the period. TD Asset Management Inc raised its stake in shares of TELUS by 18.4% in the fourth quarter. TD Asset Management Inc now owns 40,669,392 shares of the Wireless communications provider’s stock valued at $727,275,000 after purchasing an additional 6,334,692 shares in the last quarter. Clearbridge Investments LLC bought a new position in TELUS in the fourth quarter worth $109,327,000. Norges Bank acquired a new stake in TELUS during the fourth quarter worth $82,775,000. Finally, The Manufacturers Life Insurance Company increased its holdings in TELUS by 15.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider’s stock valued at $511,646,000 after buying an additional 3,860,487 shares during the period. 49.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TU has been the topic of several recent research reports. Canaccord Genuity Group lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $27.33.

TELUS Stock Down 0.1 %

TU opened at $16.60 on Thursday. The firm has a market cap of $24.59 billion, a price-to-earnings ratio of 42.55, a PEG ratio of 2.57 and a beta of 0.74. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.61 and a current ratio of 0.66. The firm’s 50-day simple moving average is $16.04 and its 200-day simple moving average is $16.19. TELUS Co. has a twelve month low of $14.63 and a twelve month high of $19.14.

TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. TELUS had a net margin of 3.87% and a return on equity of 8.50%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period in the previous year, the firm posted $0.14 earnings per share. Equities research analysts anticipate that TELUS Co. will post 0.73 EPS for the current fiscal year.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be issued a $0.284 dividend. This is a boost from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, September 10th. This represents a $1.14 annualized dividend and a yield of 6.85%. TELUS’s dividend payout ratio (DPR) is currently 292.32%.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.