TELUS Co. (NYSE:TU) Stock Position Decreased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. cut its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 46.3% in the fourth quarter, Holdings Channel reports. The firm owned 3,089,646 shares of the Wireless communications provider’s stock after selling 2,666,125 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in TELUS were worth $41,838,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TU. Amundi grew its holdings in TELUS by 13.3% in the 4th quarter. Amundi now owns 1,396,362 shares of the Wireless communications provider’s stock valued at $19,409,000 after buying an additional 163,984 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in TELUS by 5.2% in the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,403,521 shares of the Wireless communications provider’s stock valued at $46,088,000 after buying an additional 169,577 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in TELUS in the 4th quarter valued at approximately $2,085,000. Nicola Wealth Management LTD. grew its holdings in TELUS by 3.0% in the 4th quarter. Nicola Wealth Management LTD. now owns 1,093,119 shares of the Wireless communications provider’s stock valued at $14,823,000 after buying an additional 32,300 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in TELUS by 10.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,666,551 shares of the Wireless communications provider’s stock valued at $22,585,000 after buying an additional 151,309 shares during the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Price Performance

Shares of NYSE:TU opened at $15.11 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $22.66 billion, a PE ratio of 30.83, a PEG ratio of 5.18 and a beta of 0.72. TELUS Co. has a 1-year low of $13.24 and a 1-year high of $17.27. The business’s 50 day moving average is $14.70 and its 200-day moving average is $15.36.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a return on equity of 9.07% and a net margin of 4.85%. During the same quarter last year, the company earned $0.10 EPS. Sell-side analysts predict that TELUS Co. will post 0.71 earnings per share for the current year.

TELUS Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be given a dividend of $0.2829 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.13 annualized dividend and a dividend yield of 7.49%. TELUS’s dividend payout ratio (DPR) is presently 226.53%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TU. National Bank Financial lowered TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, December 13th. Morgan Stanley began coverage on TELUS in a report on Monday, December 16th. They set an “equal weight” rating on the stock. StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, Cormark lowered TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, TELUS currently has an average rating of “Hold” and an average target price of $26.00.

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.