Campbell & CO Investment Adviser LLC Sells 279,960 Shares of TELUS Corporation $TU

Campbell & CO Investment Adviser LLC cut its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 90.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,711 shares of the Wireless communications provider’s stock after selling 279,960 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in TELUS were worth $484,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in TELUS by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 779,692 shares of the Wireless communications provider’s stock valued at $11,181,000 after buying an additional 11,900 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of TELUS by 10.4% during the second quarter. Assenagon Asset Management S.A. now owns 12,716 shares of the Wireless communications provider’s stock valued at $204,000 after acquiring an additional 1,196 shares in the last quarter. Golden State Equity Partners purchased a new stake in shares of TELUS in the second quarter valued at approximately $161,000. Public Employees Retirement System of Ohio grew its stake in TELUS by 272.1% in the second quarter. Public Employees Retirement System of Ohio now owns 396,131 shares of the Wireless communications provider’s stock worth $6,361,000 after purchasing an additional 289,662 shares in the last quarter. Finally, Truist Financial Corp increased its holdings in TELUS by 3.5% during the 2nd quarter. Truist Financial Corp now owns 39,397 shares of the Wireless communications provider’s stock worth $633,000 after purchasing an additional 1,331 shares during the period. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Stock Performance

Shares of TELUS stock opened at $13.64 on Friday. The company has a market capitalization of $21.11 billion, a PE ratio of 24.80, a P/E/G ratio of 2.01 and a beta of 0.66. The company has a 50-day simple moving average of $13.19 and a two-hundred day simple moving average of $14.91. TELUS Corporation has a one year low of $12.54 and a one year high of $16.74. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.71 and a current ratio of 0.76.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). The firm had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.77 billion. TELUS had a return on equity of 8.76% and a net margin of 5.71%.The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. Research analysts expect that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Thursday, December 11th were issued a $0.4184 dividend. This is an increase from TELUS’s previous quarterly dividend of $0.30. This represents a $1.67 annualized dividend and a yield of 12.3%. The ex-dividend date of this dividend was Thursday, December 11th. TELUS’s dividend payout ratio is presently 218.18%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TU. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $19.00 target price (down from $22.00) on shares of TELUS in a report on Tuesday, November 18th. National Bankshares restated an “outperform” rating on shares of TELUS in a report on Thursday, December 4th. Barclays dropped their target price on shares of TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, November 10th. Citigroup upgraded shares of TELUS to a “buy” rating in a report on Thursday, December 4th. Finally, BMO Capital Markets downgraded shares of TELUS from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $18.17.

About TELUS

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.