TELUS Corporation $TU Stock Holdings Decreased by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. decreased its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 23.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,002,780 shares of the Wireless communications provider’s stock after selling 3,382,504 shares during the period. TD Waterhouse Canada Inc.’s holdings in TELUS were worth $90,038,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TU. Bank of Nova Scotia bought a new position in TELUS during the 2nd quarter worth $255,178,000. The Manufacturers Life Insurance Company acquired a new stake in TELUS in the second quarter worth $100,492,000. Bank of America Corp DE acquired a new stake in TELUS in the second quarter worth $75,058,000. Jupiter Topco LLC bought a new stake in TELUS in the second quarter valued at $68,500,000. Finally, Deutsche Bank AG bought a new stake in TELUS in the second quarter valued at $14,065,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. TD Securities restated a “buy” rating on shares of TELUS in a research report on Monday, August 3rd. Wall Street Zen downgraded shares of TELUS from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Raymond James Financial started coverage on shares of TELUS in a research report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Weiss Ratings lowered shares of TELUS from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 5th. Finally, National Bank Financial cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, August 4th. Three equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $15.00.

TELUS Price Performance

TU stock traded up $0.06 during trading hours on Friday, hitting $8.43. 7,258,526 shares of the stock traded hands, compared to its average volume of 7,105,930. The stock has a 50-day simple moving average of $9.01 and a 200 day simple moving average of $10.71. TELUS Corporation has a one year low of $7.64 and a one year high of $15.41. The company has a market cap of $13.39 billion, a P/E ratio of -20.56, a P/E/G ratio of 19.85 and a beta of 0.65. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.88.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%. The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. Equities analysts forecast that TELUS Corporation will post 0.23 earnings per share for the current year.

TELUS Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th were given a dividend of C$0.19 per share. This is a negative change from TELUS’s previous quarterly dividend of C$0.42. The ex-dividend date was Thursday, September 10th. This represents a $0.75 annualized dividend and a dividend yield of 8.9%. TELUS’s payout ratio is -131.71%.

TELUS Profile

TELUS Corporation is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. Through its TELUS Communications business, the company provides wireless and wireline telecommunications services, including mobile voice and data, high-speed internet, television, home security, and business communications solutions.

TELUS also operates technology-focused businesses serving customers in Canada and international markets. TELUS Health provides digital health platforms, virtual care, employee assistance, and related healthcare services.