TELUS Corporation $TU Shares Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. decreased its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 29.6% during the second quarter, Holdings Channel reports. The institutional investor owned 14,385,284 shares of the Wireless communications provider’s stock after selling 6,050,218 shares during the quarter. TD Waterhouse Canada Inc.’s holdings in TELUS were worth $151,638,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mackenzie Financial Corp raised its position in TELUS by 3.0% during the fourth quarter. Mackenzie Financial Corp now owns 33,318,398 shares of the Wireless communications provider’s stock valued at $433,838,000 after acquiring an additional 955,779 shares in the last quarter. FIL Ltd grew its stake in shares of TELUS by 112.9% during the 4th quarter. FIL Ltd now owns 30,300,204 shares of the Wireless communications provider’s stock worth $399,352,000 after purchasing an additional 16,066,539 shares during the period. Vanguard Group Inc. increased its holdings in shares of TELUS by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 29,470,046 shares of the Wireless communications provider’s stock valued at $388,415,000 after purchasing an additional 916,459 shares in the last quarter. Bank of Nova Scotia purchased a new position in shares of TELUS during the 2nd quarter valued at approximately $255,178,000. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of TELUS by 21.5% in the 1st quarter. The Manufacturers Life Insurance Company now owns 24,075,122 shares of the Wireless communications provider’s stock valued at $309,159,000 after purchasing an additional 4,258,557 shares during the period. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Trading Up 1.7%

Shares of NYSE:TU opened at $9.73 on Friday. TELUS Corporation has a 1 year low of $9.20 and a 1 year high of $16.65. The firm has a market capitalization of $15.32 billion, a price-to-earnings ratio of -23.73, a price-to-earnings-growth ratio of 13.10 and a beta of 0.63. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.67 and a quick ratio of 0.62. The business’s 50 day moving average price is $10.09 and its 200-day moving average price is $11.75.

TELUS (NYSE:TU) (TSE:T) last released its quarterly 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). The company had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. TELUS had a negative net margin of 4.51% and a positive return on equity of 8.01%. On average, equities research analysts forecast that TELUS Corporation will post 0.41 earnings per share for the current fiscal year.

TELUS Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be given a $0.1875 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.75 annualized dividend and a dividend yield of 7.7%. TELUS’s dividend payout ratio (DPR) is -295.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TU shares. Wall Street Zen downgraded shares of TELUS from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. National Bank Financial cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Tuesday, August 4th. Scotiabank reiterated a “sector perform” rating on shares of TELUS in a research report on Monday, August 3rd. Raymond James Financial began coverage on shares of TELUS in a research note on Wednesday, July 15th. They set a “market perform” rating on the stock. Finally, Weiss Ratings lowered TELUS from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 5th. Three 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 has a consensus rating of “Reduce” and a consensus target price of $15.33.

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.