Crossmark Global Holdings Inc. Lowers Holdings in TELUS Co. (NYSE:TU)

Crossmark Global Holdings Inc. trimmed its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 1.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 146,101 shares of the Wireless communications provider’s stock after selling 2,304 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in TELUS were worth $2,212,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Capital Research Global Investors boosted its stake in shares of TELUS by 215.8% during the 4th quarter. Capital Research Global Investors now owns 22,214,210 shares of the Wireless communications provider’s stock worth $395,314,000 after acquiring an additional 15,179,110 shares in the last quarter. TD Asset Management Inc raised its holdings in TELUS by 18.4% in the 4th quarter. TD Asset Management Inc now owns 40,669,392 shares of the Wireless communications provider’s stock valued at $727,275,000 after acquiring an additional 6,334,692 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in TELUS in the 4th quarter valued at about $109,327,000. Norges Bank acquired a new stake in TELUS in the 4th quarter valued at about $82,775,000. Finally, The Manufacturers Life Insurance Company raised 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 acquiring an additional 3,860,487 shares during the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Trading Up 0.8 %

Shares of NYSE:TU traded up $0.13 during mid-day trading on Friday, reaching $16.14. 1,600,440 shares of the company were exchanged, compared to its average volume of 2,275,349. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.61. The firm has a market cap of $23.92 billion, a price-to-earnings ratio of 41.39, a P/E/G ratio of 2.48 and a beta of 0.73. The firm’s 50-day simple moving average is $15.81 and its 200 day simple moving average is $16.27. TELUS Co. has a 1 year low of $14.63 and a 1 year high of $19.14.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data 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. The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.70 billion. TELUS had a net margin of 3.87% and a return on equity of 8.50%. During the same quarter last year, the company posted $0.14 EPS. Equities research analysts forecast that TELUS Co. will post 0.73 EPS for the current year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be given a dividend of $0.284 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.04%. This is a boost from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio (DPR) is presently 292.32%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TU shares. StockNews.com downgraded shares of TELUS from a “hold” rating to a “sell” rating in a report on Thursday. Canaccord Genuity Group downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. 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 company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $27.33.

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.