Mn Services Vermogensbeheer B.V. Has $2.88 Million Position in TELUS Co. (NYSE:TU)

Mn Services Vermogensbeheer B.V. lowered its stake in TELUS Co. (NYSE:TU) (TSE:T) by 2.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 190,300 shares of the Wireless communications provider’s stock after selling 4,900 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in TELUS were worth $2,880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC bought a new position in shares of TELUS during the fourth quarter worth $298,000. CWM LLC raised its holdings in shares of TELUS by 104.3% during the fourth quarter. CWM LLC now owns 3,891 shares of the Wireless communications provider’s stock worth $69,000 after acquiring an additional 1,986 shares during the period. Russell Investments Group Ltd. raised its holdings in shares of TELUS by 21.9% during the fourth quarter. Russell Investments Group Ltd. now owns 544,463 shares of the Wireless communications provider’s stock worth $9,736,000 after acquiring an additional 97,795 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of TELUS by 1.6% during the fourth quarter. Kestra Private Wealth Services LLC now owns 91,468 shares of the Wireless communications provider’s stock worth $1,627,000 after acquiring an additional 1,418 shares during the period. Finally, Natixis Advisors L.P. increased its stake in TELUS by 15.4% in the 4th quarter. Natixis Advisors L.P. now owns 96,631 shares of the Wireless communications provider’s stock valued at $1,719,000 after buying an additional 12,890 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

Wall Street Analysts Forecast Growth

TU has been the topic of several recent research reports. Canaccord Genuity Group lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research note on Wednesday. Four investment 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 company has an average rating of “Hold” and a consensus price target of $27.33.

TELUS Stock Performance

Shares of TELUS stock traded up $0.25 during trading on Friday, hitting $16.09. 2,443,088 shares of the stock were exchanged, compared to its average volume of 2,294,350. The stock has a market capitalization of $23.75 billion, a price-to-earnings ratio of 41.26, a price-to-earnings-growth ratio of 2.44 and a beta of 0.73. The company has a fifty day moving average price of $15.77 and a 200-day moving average price of $16.29. TELUS Co. has a 1-year low of $14.63 and a 1-year high of $19.14. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.46.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.09. The company 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 in the previous year, the business earned $0.14 EPS. As a group, equities analysts predict that TELUS Co. will post 0.73 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th will be issued a dividend of $0.284 per share. This is an increase from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, September 10th. This represents a $1.14 annualized dividend and a dividend yield of 7.06%. TELUS’s payout ratio is presently 287.18%.

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.