Sumitomo Mitsui Trust Holdings Inc. reduced its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 2.7% during the third quarter, HoldingsChannel.com reports. The firm owned 778,462 shares of the Wireless communications provider’s stock after selling 21,918 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc.’s holdings in TELUS were worth $28,644,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of TU. Skandinaviska Enskilda Banken AB publ lifted its stake in TELUS by 23.9% during the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 155,890 shares of the Wireless communications provider’s stock valued at $5,743,000 after acquiring an additional 30,100 shares during the period. Chicago Partners Investment Group LLC lifted its stake in shares of TELUS by 100.0% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 4,700 shares of the Wireless communications provider’s stock worth $160,000 after purchasing an additional 2,350 shares during the period. Virginia Retirement Systems ET AL lifted its stake in shares of TELUS by 21.2% in the 3rd quarter. Virginia Retirement Systems ET AL now owns 339,300 shares of the Wireless communications provider’s stock worth $12,497,000 after purchasing an additional 59,400 shares during the period. Comerica Bank lifted its stake in shares of TELUS by 6.1% in the 3rd quarter. Comerica Bank now owns 34,390 shares of the Wireless communications provider’s stock worth $1,200,000 after purchasing an additional 1,989 shares during the period. Finally, Willingdon Wealth Management bought a new position in shares of TELUS in the 3rd quarter worth approximately $3,116,000. 50.52% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research reiterated a “sell” rating on shares of TELUS in a research note on Saturday, November 17th. Desjardins reiterated a “buy” rating on shares of TELUS in a research note on Sunday, October 21st. Barclays reiterated a “buy” rating and issued a $40.00 price objective on shares of TELUS in a research note on Sunday, November 11th. TD Securities reiterated a “buy” rating on shares of TELUS in a research note on Friday, November 9th. Finally, Scotiabank cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $47.67.
TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Thursday, November 8th. The Wireless communications provider reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.03. TELUS had a net margin of 10.82% and a return on equity of 17.51%. The firm had revenue of $3.77 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same quarter in the prior year, the business earned $0.66 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, analysts expect that TELUS Co. will post 2.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Tuesday, December 11th will be paid a dividend of $0.4158 per share. This is a boost from TELUS’s previous quarterly dividend of $0.40. The ex-dividend date is Monday, December 10th. This represents a $1.66 dividend on an annualized basis and a yield of 4.66%. TELUS’s dividend payout ratio (DPR) is presently 79.31%.
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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 security and cloud-based services; healthcare solutions; business process outsourcing; and security solutions.
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