TELUS Co. (NYSE:TU) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co reduced its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 7.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 815,228 shares of the Wireless communications provider’s stock after selling 62,768 shares during the period. CANADA LIFE ASSURANCE Co owned 0.06% of TELUS worth $13,070,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of TU. Vanguard Group Inc. raised its position in shares of TELUS by 1.8% during the 3rd quarter. Vanguard Group Inc. now owns 21,789,027 shares of the Wireless communications provider’s stock worth $356,033,000 after purchasing an additional 387,561 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of TELUS during the 4th quarter worth approximately $49,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of TELUS during the 4th quarter worth approximately $187,000. Nexus Investment Management ULC raised its position in shares of TELUS by 2.7% during the 4th quarter. Nexus Investment Management ULC now owns 1,681,218 shares of the Wireless communications provider’s stock worth $30,014,000 after purchasing an additional 44,675 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its position in shares of TELUS by 22.4% during the 4th quarter. Pinnacle Associates Ltd. now owns 60,000 shares of the Wireless communications provider’s stock worth $1,067,000 after purchasing an additional 11,000 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded TELUS from a “hold” rating to a “sell” rating in a report on Friday, June 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, TELUS currently has a consensus rating of “Hold” and a consensus target price of $26.20.

TELUS Trading Up 0.3 %

TU traded up $0.05 during trading on Thursday, hitting $15.81. The company’s stock had a trading volume of 1,220,132 shares, compared to its average volume of 2,285,174. The firm’s 50 day moving average price is $15.86 and its 200-day moving average price is $16.59. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.75 and a quick ratio of 0.70. The stock has a market cap of $23.34 billion, a PE ratio of 40.42, a PEG ratio of 2.37 and a beta of 0.73. TELUS Co. has a twelve month low of $14.63 and a twelve month high of $19.14.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Thursday, May 9th. The Wireless communications provider reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The business had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.73 billion. TELUS had a return on equity of 7.90% and a net margin of 3.73%. On average, analysts expect that TELUS Co. will post 0.75 earnings per share for the current year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th were issued a dividend of $0.282 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.13%. This is an increase from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Monday, June 10th. TELUS’s dividend payout ratio is presently 292.31%.

TELUS 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.