Truist Financial Corp Lowers Position in TELUS Co. (NYSE:TU)

Truist Financial Corp cut its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 4.6% in the third quarter, Holdings Channel reports. The fund owned 112,272 shares of the Wireless communications provider’s stock after selling 5,445 shares during the quarter. Truist Financial Corp’s holdings in TELUS were worth $2,465,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. DORCHESTER WEALTH MANAGEMENT Co lifted its stake in TELUS by 3.6% in the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 234,238 shares of the Wireless communications provider’s stock worth $5,113,000 after acquiring an additional 8,121 shares during the period. Great West Life Assurance Co. Can lifted its stake in TELUS by 1.7% in the second quarter. Great West Life Assurance Co. Can now owns 692,297 shares of the Wireless communications provider’s stock worth $15,492,000 after acquiring an additional 11,777 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in TELUS in the second quarter worth about $73,000. Gluskin Sheff & Assoc Inc. lifted its stake in TELUS by 4.2% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 706,628 shares of the Wireless communications provider’s stock worth $15,856,000 after acquiring an additional 28,284 shares during the period. Finally, Exencial Wealth Advisors LLC lifted its stake in TELUS by 51.4% in the third quarter. Exencial Wealth Advisors LLC now owns 116,659 shares of the Wireless communications provider’s stock worth $2,562,000 after acquiring an additional 39,624 shares during the period. 47.19% of the stock is owned by institutional investors.

TU opened at $23.76 on Friday. TELUS Co. has a 52-week low of $19.74 and a 52-week high of $23.95. The firm’s 50-day moving average price is $23.21 and its 200-day moving average price is $22.77. The company has a quick ratio of 0.75, a current ratio of 0.80 and a debt-to-equity ratio of 1.15. The company has a market cap of $32.34 billion, a P/E ratio of 32.11, a price-to-earnings-growth ratio of 2.70 and a beta of 0.69.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, November 5th. The Wireless communications provider reported $0.23 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. TELUS had a net margin of 7.74% and a return on equity of 9.29%. The company had revenue of $4.25 billion for the quarter, compared to the consensus estimate of $4.29 billion. During the same quarter in the prior year, the company earned $0.21 EPS. TELUS’s quarterly revenue was up 6.8% on a year-over-year basis. On average, research analysts anticipate that TELUS Co. will post 0.86 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 4th. Investors of record on Friday, December 10th were issued a $0.2627 dividend. This represents a $1.05 annualized dividend and a yield of 4.42%. The ex-dividend date was Thursday, December 9th. This is an increase from TELUS’s previous quarterly dividend of $0.25. TELUS’s dividend payout ratio is 137.84%.

Several research firms have commented on TU. National Bank Financial increased their price target on shares of TELUS from C$33.00 to C$34.00 and gave the company an “outperform” rating in a research report on Monday, November 8th. TD Securities decreased their price target on shares of TELUS from C$33.00 to C$32.00 and set a “buy” rating for the company in a research report on Tuesday, November 9th. Zacks Investment Research lowered shares of TELUS from a “hold” rating to a “sell” rating and set a $24.00 price target for the company. in a research report on Tuesday. CIBC increased their price target on shares of TELUS from C$30.00 to C$31.00 and gave the company an “outperform” rating in a research report on Monday, November 8th. Finally, Scotiabank increased their price target on shares of TELUS from C$34.00 to C$36.00 and gave the company an “outperform” rating in a research report on Monday, November 8th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $30.67.

TELUS Company Profile

TELUS Corp. is a telecommunications company. The company specializes in telecommunication services and products primarily for wireless and wireline voice and data. It operates through the following segments: Wireless and Wireline. The Wireless segment refers to the data and voice products for mobile technologies.

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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