DORCHESTER WEALTH MANAGEMENT Co Sells 11,534 Shares of TELUS Co. (NYSE:TU)

DORCHESTER WEALTH MANAGEMENT Co lessened its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 6.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 175,162 shares of the Wireless communications provider’s stock after selling 11,534 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in TELUS were worth $2,939,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Fairscale Capital LLC acquired a new stake in TELUS in the second quarter worth $27,000. Blue Trust Inc. raised its position in shares of TELUS by 60.4% in the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock valued at $41,000 after purchasing an additional 954 shares during the period. UniSuper Management Pty Ltd purchased a new position in TELUS during the first quarter valued at approximately $58,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in TELUS in the 1st quarter worth approximately $71,000. Finally, Acadian Asset Management LLC purchased a new position in TELUS in the 2nd quarter worth approximately $123,000. Institutional investors own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TU. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note 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 research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.00.

TELUS Stock Down 0.8 %

TU traded down $0.13 during midday trading on Thursday, reaching $16.04. The company’s stock had a trading volume of 419,019 shares, compared to its average volume of 2,207,237. The stock’s 50-day moving average is $16.40 and its 200-day moving average is $16.14. The firm has a market capitalization of $23.77 billion, a price-to-earnings ratio of 40.41, a PEG ratio of 2.47 and a beta of 0.74. 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 results 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 business had revenue of $3.64 billion for 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 last year, the firm earned $0.14 earnings per share. As a group, research analysts expect that TELUS Co. will post 0.73 EPS for the current year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th were issued a $0.284 dividend. This represents a $1.14 annualized dividend and a dividend yield of 7.08%. The ex-dividend date was Tuesday, September 10th. This is a positive change from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio (DPR) is 287.50%.

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.