Mackenzie Financial Corp Has $635.45 Million Stock Position in TELUS Co. (NYSE:TU)

Mackenzie Financial Corp trimmed its position in TELUS Co. (NYSE:TU) (TSE:T) by 16.0% during the second quarter, Holdings Channel reports. The institutional investor owned 41,971,863 shares of the Wireless communications provider’s stock after selling 8,020,199 shares during the quarter. TELUS makes up about 0.9% of Mackenzie Financial Corp’s investment portfolio, making the stock its 22nd biggest holding. Mackenzie Financial Corp’s holdings in TELUS were worth $635,454,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors raised its position in shares of TELUS by 215.8% during the fourth quarter. Capital Research Global Investors now owns 22,214,210 shares of the Wireless communications provider’s stock worth $395,314,000 after purchasing an additional 15,179,110 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of TELUS by 15.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider’s stock valued at $511,646,000 after purchasing an additional 3,860,487 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in TELUS by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider’s stock valued at $578,253,000 after acquiring an additional 2,365,753 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of TELUS by 81.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,798,166 shares of the Wireless communications provider’s stock worth $67,569,000 after purchasing an additional 1,704,788 shares during the period. Finally, Fiera Capital Corp lifted its holdings in shares of TELUS by 9.9% during the second quarter. Fiera Capital Corp now owns 16,670,713 shares of the Wireless communications provider’s stock worth $252,468,000 after buying an additional 1,501,742 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

TELUS Trading Up 1.1 %

Shares of TU stock opened at $16.66 on Friday. The company has a market capitalization of $24.69 billion, a price-to-earnings ratio of 42.72, a PEG ratio of 2.53 and a beta of 0.74. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.61 and a current ratio of 0.66. The company has a 50-day simple moving average of $16.31 and a two-hundred day simple 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. The firm had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.70 billion. TELUS had a net margin of 3.87% and a return on equity of 8.50%. During the same period in the prior year, the firm earned $0.14 EPS. Research analysts anticipate that TELUS Co. will post 0.73 EPS for the current fiscal year.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a $0.284 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.82%. This is an increase from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, September 10th. TELUS’s dividend payout ratio is presently 294.88%.

TELUS 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.