Fiera Capital Corp Reduces Stock Position in TELUS Corporation $TU

Fiera Capital Corp cut its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 2.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,365,666 shares of the Wireless communications provider’s stock after selling 502,130 shares during the quarter. Fiera Capital Corp owned approximately 1.12% of TELUS worth $228,952,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TU. Flagship Harbor Advisors LLC purchased a new stake in TELUS during the 4th quarter worth approximately $33,000. State of Wyoming purchased a new stake in TELUS during the 2nd quarter worth approximately $61,000. Employees Retirement System of Texas purchased a new stake in TELUS during the 3rd quarter worth approximately $64,000. Northwestern Mutual Wealth Management Co. increased its holdings in TELUS by 37.1% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 4,585 shares of the Wireless communications provider’s stock worth $72,000 after purchasing an additional 1,241 shares during the last quarter. Finally, One Capital Management LLC bought a new stake in shares of TELUS in the 4th quarter valued at approximately $137,000. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen upgraded TELUS from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Scotiabank downgraded TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, April 10th. Weiss Ratings downgraded TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th. Canaccord Genuity Group downgraded TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. Finally, TD Securities upgraded TELUS from a “buy” rating to a “buy” rating in a report on Tuesday, April 28th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, TELUS presently has an average rating of “Hold” and a consensus target price of $16.33.

TELUS Price Performance

Shares of NYSE TU opened at $12.33 on Monday. TELUS Corporation has a twelve month low of $11.69 and a twelve month high of $16.74. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $19.40 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 12.10 and a beta of 0.61. The business has a 50 day simple moving average of $12.47 and a 200-day simple moving average of $13.07.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a return on equity of 8.29% and a net margin of 4.54%.The firm’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 EPS. As a group, equities research analysts expect that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th will be paid a dividend of $0.4184 per share. This represents a $1.67 dividend on an annualized basis and a yield of 13.6%. The ex-dividend date is Wednesday, June 10th. TELUS’s dividend payout ratio is presently 279.55%.

TELUS Profile

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.