CLARET ASSET MANAGEMENT Corp Decreases Stock Holdings in TELUS Co. (NYSE:TU)

CLARET ASSET MANAGEMENT Corp lowered its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,871 shares of the Wireless communications provider’s stock after selling 902 shares during the quarter. CLARET ASSET MANAGEMENT Corp’s holdings in TELUS were worth $494,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northwest Bancshares Inc. increased its position in shares of TELUS by 3.3% during the third quarter. Northwest Bancshares Inc. now owns 87,395 shares of the Wireless communications provider’s stock valued at $3,113,000 after buying an additional 2,832 shares during the period. Natixis increased its position in shares of TELUS by 14.6% during the second quarter. Natixis now owns 132,849 shares of the Wireless communications provider’s stock valued at $4,922,000 after buying an additional 16,947 shares during the period. Vestmark Advisory Solutions Inc. increased its position in shares of TELUS by 8.8% during the second quarter. Vestmark Advisory Solutions Inc. now owns 8,500 shares of the Wireless communications provider’s stock valued at $314,000 after buying an additional 684 shares during the period. Prudential PLC increased its position in shares of TELUS by 405.8% during the second quarter. Prudential PLC now owns 147,682 shares of the Wireless communications provider’s stock valued at $5,416,000 after buying an additional 118,482 shares during the period. Finally, White Pine Capital LLC increased its position in shares of TELUS by 27.9% during the second quarter. White Pine Capital LLC now owns 19,500 shares of the Wireless communications provider’s stock valued at $720,000 after buying an additional 4,250 shares during the period. Institutional investors own 51.76% of the company’s stock.

Several brokerages recently issued reports on TU. Canaccord Genuity cut shares of TELUS from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Citigroup cut shares of TELUS from a “buy” rating to a “neutral” rating in a report on Wednesday, July 3rd. Finally, Bank of America upgraded shares of TELUS from a “neutral” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Monday, September 30th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. TELUS has an average rating of “Buy” and an average target price of $46.50.

Shares of TU opened at $36.11 on Friday. The firm’s 50-day simple moving average is $36.15 and its two-hundred day simple moving average is $36.66. The stock has a market cap of $21.30 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 2.54 and a beta of 0.68. TELUS Co. has a fifty-two week low of $32.46 and a fifty-two week high of $38.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.66 and a current ratio of 0.71.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). The firm had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.69 billion. TELUS had a return on equity of 16.75% and a net margin of 11.91%. Equities research analysts predict that TELUS Co. will post 2.21 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were paid a $0.426 dividend. This represents a $1.70 annualized dividend and a dividend yield of 4.72%. The ex-dividend date was Monday, September 9th. This is an increase from TELUS’s previous quarterly dividend of $0.42. TELUS’s dividend payout ratio is currently 78.97%.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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