Bank of Montreal Can decreased its stake in TELUS Co. (NYSE:TU) (TSE:T) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,578,619 shares of the Wireless communications provider’s stock after selling 157,082 shares during the quarter. Bank of Montreal Can owned about 2.28% of TELUS worth $500,235,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Northwest Bancshares Inc. boosted its holdings in TELUS by 8.9% during the 3rd quarter. Northwest Bancshares Inc. now owns 58,610 shares of the Wireless communications provider’s stock valued at $2,159,000 after acquiring an additional 4,789 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in TELUS by 8.9% during the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,895,400 shares of the Wireless communications provider’s stock valued at $135,215,000 after acquiring an additional 237,200 shares during the period. Bank of Nova Scotia lifted its holdings in shares of TELUS by 6.1% in the 2nd quarter. Bank of Nova Scotia now owns 4,391,318 shares of the Wireless communications provider’s stock worth $156,512,000 after buying an additional 251,243 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of TELUS in the 2nd quarter worth $1,688,000. Finally, PCJ Investment Counsel Ltd. lifted its holdings in shares of TELUS by 0.9% in the 2nd quarter. PCJ Investment Counsel Ltd. now owns 1,000,904 shares of the Wireless communications provider’s stock worth $35,533,000 after buying an additional 8,510 shares during the period. Institutional investors own 50.57% of the company’s stock.
NYSE:TU traded up $0.04 during mid-day trading on Friday, hitting $34.00. 36,984 shares of the company’s stock traded hands, compared to its average volume of 371,260. TELUS Co. has a twelve month low of $33.89 and a twelve month high of $38.50. The firm has a market capitalization of $21.96 billion, a P/E ratio of 16.88, a P/E/G ratio of 2.13 and a beta of 0.80. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.85 and a quick ratio of 0.78.
TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, August 3rd. The Wireless communications provider reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. The company had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.45 billion. TELUS had a return on equity of 17.45% and a net margin of 10.61%. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. On average, analysts expect that TELUS Co. will post 2.16 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were issued a $0.404 dividend. This represents a $1.62 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date was Friday, September 7th. TELUS’s dividend payout ratio is presently 79.31%.
Separately, Scotiabank cut TELUS from an “outperform” rating to a “sector perform” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. TELUS currently has an average rating of “Hold” and an average price target of $46.80.
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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