TELUS Co. (NYSE:TU) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lessened its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 60.9% in the second quarter, Holdings Channel reports. The firm owned 490,115 shares of the Wireless communications provider’s stock after selling 761,977 shares during the period. Canada Pension Plan Investment Board’s holdings in TELUS were worth $7,418,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wealth Advisors of Tampa Bay LLC increased its position in TELUS by 1.8% during the 2nd quarter. Wealth Advisors of Tampa Bay LLC now owns 256,248 shares of the Wireless communications provider’s stock worth $3,880,000 after purchasing an additional 4,619 shares in the last quarter. Bristol Gate Capital Partners Inc. grew its position in TELUS by 12.7% in the second quarter. Bristol Gate Capital Partners Inc. now owns 53,706 shares of the Wireless communications provider’s stock valued at $813,000 after acquiring an additional 6,031 shares in the last quarter. Burgundy Asset Management Ltd. grew its position in TELUS by 33.3% in the second quarter. Burgundy Asset Management Ltd. now owns 136,341 shares of the Wireless communications provider’s stock valued at $2,063,000 after acquiring an additional 34,055 shares in the last quarter. MQS Management LLC grew its position in TELUS by 437.9% in the second quarter. MQS Management LLC now owns 55,369 shares of the Wireless communications provider’s stock valued at $838,000 after acquiring an additional 45,076 shares in the last quarter. Finally, XTX Topco Ltd grew its position in TELUS by 249.0% in the second quarter. XTX Topco Ltd now owns 46,981 shares of the Wireless communications provider’s stock valued at $711,000 after acquiring an additional 33,519 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TU shares. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Canaccord Genuity Group downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.33.

TELUS Stock Performance

TELUS stock opened at $16.68 on Wednesday. The stock has a market cap of $24.61 billion, a P/E ratio of 42.76, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.46. The stock has a 50 day moving average of $16.29 and a 200-day moving average of $16.14. TELUS Co. has a 52 week low of $14.63 and a 52 week high of $19.14.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.16 by $0.09. The company had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.70 billion. TELUS had a return on equity of 8.50% and a net margin of 3.87%. During the same period in the prior year, the business posted $0.14 EPS. On average, analysts expect that TELUS Co. will post 0.73 EPS for the current fiscal year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.284 per share. 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 6.81%. The ex-dividend date is Tuesday, September 10th. TELUS’s dividend payout ratio is 294.87%.

TELUS Company Profile

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.