Private Trust Co. NA Reduces Stock Position in TELUS Co. (NYSE:TU)

Private Trust Co. NA decreased its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,899 shares of the Wireless communications provider’s stock after selling 1,821 shares during the period. Private Trust Co. NA’s holdings in TELUS were worth $229,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in TU. Bank of New York Mellon Corp raised its stake in shares of TELUS by 3.3% during the fourth quarter. Bank of New York Mellon Corp now owns 466,034 shares of the Wireless communications provider’s stock valued at $6,319,000 after acquiring an additional 15,025 shares in the last quarter. Lincluden Management Ltd. raised its position in TELUS by 1.0% during the 4th quarter. Lincluden Management Ltd. now owns 1,959,730 shares of the Wireless communications provider’s stock valued at $26,570,000 after purchasing an additional 19,196 shares in the last quarter. DORCHESTER WEALTH MANAGEMENT Co raised its position in TELUS by 10.0% during the 4th quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 192,634 shares of the Wireless communications provider’s stock valued at $2,609,000 after purchasing an additional 17,472 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of TELUS in the 4th quarter worth $512,000. Finally, Ingalls & Snyder LLC grew its position in shares of TELUS by 20.4% during the 4th quarter. Ingalls & Snyder LLC now owns 22,980 shares of the Wireless communications provider’s stock worth $312,000 after buying an additional 3,900 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors.

TELUS Price Performance

TU opened at $15.50 on Tuesday. The firm has a market capitalization of $23.25 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 5.18 and a beta of 0.75. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. The business’s 50-day moving average is $14.42 and its two-hundred day moving average is $15.38. TELUS Co. has a 1 year low of $13.24 and a 1 year high of $17.77.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same period last year, the business earned $0.10 EPS. Research analysts anticipate that TELUS Co. will post 0.71 earnings per share for the current fiscal year.

TELUS Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.2829 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.30%. The ex-dividend date is Tuesday, March 11th. TELUS’s payout ratio is presently 224.49%.

Wall Street Analysts Forecast Growth

TU has been the subject of a number of research reports. National Bank Financial lowered shares of TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 13th. StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Morgan Stanley started coverage on shares of TELUS in a research note on Monday, December 16th. They issued an “equal weight” rating for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, TELUS has a consensus rating of “Hold” and an average price target of $26.00.

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.