Federated Hermes Inc. Has $33.56 Million Stock Position in TELUS Co. (NYSE:TU)

Federated Hermes Inc. lowered its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 6.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,216,405 shares of the Wireless communications provider’s stock after selling 156,932 shares during the period. Federated Hermes Inc. owned 0.15% of TELUS worth $33,556,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Blue Trust Inc. grew its holdings in TELUS by 60.4% during the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock worth $41,000 after purchasing an additional 954 shares during the period. Gulf International Bank UK Ltd lifted its position in shares of TELUS by 39.8% in the first quarter. Gulf International Bank UK Ltd now owns 2,752 shares of the Wireless communications provider’s stock valued at $44,000 after buying an additional 784 shares during the last quarter. UniSuper Management Pty Ltd bought a new position in shares of TELUS during the 1st quarter worth approximately $58,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of TELUS during the 1st quarter worth approximately $71,000. Finally, Acadian Asset Management LLC bought a new stake in TELUS in the 2nd quarter valued at $123,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Stock Down 0.2 %

TU stock opened at $16.93 on Friday. TELUS Co. has a fifty-two week low of $14.63 and a fifty-two week high of $19.14. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.61. The stock has a market capitalization of $25.09 billion, a price-to-earnings ratio of 43.41, a PEG ratio of 2.58 and a beta of 0.74. The business’s fifty day moving average price is $16.11 and its two-hundred day moving average price is $16.18.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. The business had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.70 billion. TELUS had a net margin of 3.87% and a return on equity of 8.50%. During the same period last year, the firm earned $0.14 earnings per share. On average, equities analysts anticipate that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be paid a $0.284 dividend. This is a boost from TELUS’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 6.71%. The ex-dividend date is Tuesday, September 10th. TELUS’s payout ratio is 294.88%.

Analyst Ratings Changes

Several equities analysts have commented on TU shares. StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Canaccord Genuity Group lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.33.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.