TELUS Co. (TU) Holdings Reduced by Federated Investors Inc. PA

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Federated Investors Inc. PA lessened its stake in TELUS Co. (NYSE:TU) (TSE:T) by 23.2% during the first quarter, HoldingsChannel reports. The firm owned 740,831 shares of the Wireless communications provider’s stock after selling 223,411 shares during the period. Federated Investors Inc. PA’s holdings in TELUS were worth $27,441,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. TD Asset Management Inc. raised its stake in shares of TELUS by 4.7% in the 1st quarter. TD Asset Management Inc. now owns 23,771,390 shares of the Wireless communications provider’s stock valued at $880,073,000 after purchasing an additional 1,069,042 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of TELUS by 11.7% in the 1st quarter. CIBC Asset Management Inc now owns 13,108,240 shares of the Wireless communications provider’s stock valued at $485,148,000 after purchasing an additional 1,377,720 shares in the last quarter. Mawer Investment Management Ltd. raised its stake in shares of TELUS by 2.7% in the 1st quarter. Mawer Investment Management Ltd. now owns 9,170,726 shares of the Wireless communications provider’s stock valued at $339,511,000 after purchasing an additional 242,272 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of TELUS by 1.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 6,557,160 shares of the Wireless communications provider’s stock valued at $241,921,000 after purchasing an additional 106,373 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of TELUS by 18.5% in the 1st quarter. Toronto Dominion Bank now owns 4,535,577 shares of the Wireless communications provider’s stock valued at $168,429,000 after purchasing an additional 708,494 shares in the last quarter. Institutional investors and hedge funds own 51.58% of the company’s stock.

A number of brokerages have recently issued reports on TU. Zacks Investment Research upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Bank of America restated a “hold” rating on shares of TELUS in a research note on Friday, May 10th. Barclays restated a “buy” rating and issued a $41.00 target price on shares of TELUS in a research note on Sunday, May 12th. Royal Bank of Canada restated a “buy” rating on shares of TELUS in a research note on Tuesday, April 9th. Finally, TheStreet upgraded shares of TELUS from a “c+” rating to a “b-” rating in a research note on Thursday, April 4th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.00.

TU opened at $38.13 on Friday. The stock has a market cap of $22.79 billion, a P/E ratio of 17.82, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76. TELUS Co. has a fifty-two week low of $32.46 and a fifty-two week high of $38.29. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 1.39.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Thursday, May 9th. The Wireless communications provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.52 billion. TELUS had a net margin of 11.15% and a return on equity of 16.98%. TELUS’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. Sell-side analysts predict that TELUS Co. will post 2.2 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 10th will be paid a dividend of $0.4191 per share. This is a positive change from TELUS’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, June 7th. This represents a $1.68 annualized dividend and a yield of 4.40%. TELUS’s dividend payout ratio is 77.10%.

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About TELUS

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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