K.J. Harrison & Partners Inc Has $134,000 Stock Position in TELUS Corporation $TU

K.J. Harrison & Partners Inc lowered its holdings in TELUS Corporation (NYSE:TU) (TSE:T) by 95.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,450 shares of the Wireless communications provider’s stock after selling 211,742 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in TELUS were worth $134,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. First Trust Advisors LP boosted its stake in shares of TELUS by 11.0% in the 3rd quarter. First Trust Advisors LP now owns 7,478,636 shares of the Wireless communications provider’s stock worth $117,922,000 after buying an additional 743,471 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of TELUS by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 29,470,046 shares of the Wireless communications provider’s stock worth $388,415,000 after buying an additional 916,459 shares during the period. Letko Brosseau & Associates Inc. raised its stake in shares of TELUS by 2.2% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 6,775,387 shares of the Wireless communications provider’s stock worth $89,416,000 after buying an additional 148,325 shares during the period. Purpose Unlimited Inc. purchased a new position in shares of TELUS during the 4th quarter valued at about $16,660,000. Finally, Vest Financial LLC lifted its position in shares of TELUS by 97.2% during the 4th quarter. Vest Financial LLC now owns 357,705 shares of the Wireless communications provider’s stock valued at $4,711,000 after buying an additional 176,316 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.

TELUS Trading Up 0.1%

NYSE:TU opened at $10.21 on Monday. The stock has a market capitalization of $16.06 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 10.01 and a beta of 0.63. TELUS Corporation has a 52 week low of $10.07 and a 52 week high of $16.74. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 1.59. The firm has a 50 day moving average of $12.01 and a 200 day moving average of $12.81.

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

TELUS Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th were paid a dividend of $0.4184 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 16.4%. TELUS’s payout ratio is currently 275.00%.

Analysts Set New Price Targets

TU has been the subject of several research analyst reports. Canaccord Genuity Group cut TELUS from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. Wall Street Zen upgraded shares of TELUS from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. TD Securities upgraded TELUS from a “buy” rating to a “buy” rating in a report on Tuesday, April 28th. Bank of America raised TELUS from a “neutral” rating to a “buy” rating and raised their price objective for the company from $14.50 to $16.00 in a research note on Tuesday, March 10th. Finally, Weiss Ratings cut shares of TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. Five investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $16.33.

TELUS Company 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.