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

Truist Financial Corp trimmed its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 17.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,069 shares of the Wireless communications provider’s stock after selling 32,709 shares during the quarter. Truist Financial Corp’s holdings in TELUS were worth $2,688,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of TU. VisionPoint Advisory Group LLC increased its stake in shares of TELUS by 80.8% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider’s stock worth $27,000 after purchasing an additional 739 shares during the last quarter. Turtle Creek Wealth Advisors LLC purchased a new stake in TELUS in the 4th quarter worth about $33,000. CVA Family Office LLC bought a new stake in TELUS in the 4th quarter valued at about $49,000. CWM LLC raised its stake in TELUS by 104.3% in the 4th quarter. CWM LLC now owns 3,891 shares of the Wireless communications provider’s stock valued at $69,000 after acquiring an additional 1,986 shares during the period. Finally, Sequoia Financial Advisors LLC bought a new position in TELUS during the third quarter worth about $172,000. 49.40% of the stock is currently owned by institutional investors.

TELUS Price Performance

NYSE:TU opened at $16.40 on Thursday. The firm has a market capitalization of $24.20 billion, a price-to-earnings ratio of 38.13, a P/E/G ratio of 2.00 and a beta of 0.71. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.62 and a current ratio of 0.67. The stock has a fifty day moving average of $16.39 and a 200 day moving average of $17.25. TELUS Co. has a 52-week low of $15.35 and a 52-week high of $20.82.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, February 9th. The Wireless communications provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.24 billion. TELUS had a return on equity of 7.81% and a net margin of 4.18%. TELUS’s revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 earnings per share. On average, research analysts expect that TELUS Co. will post 0.76 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a $0.2793 dividend. This is a positive change from TELUS’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, March 8th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.81%. TELUS’s dividend payout ratio is presently 258.14%.

Analyst Upgrades and Downgrades

TU has been the subject of several analyst reports. StockNews.com downgraded shares of TELUS from a “hold” rating to a “sell” rating in a report on Tuesday, March 26th. Scotiabank reaffirmed a “sector perform” rating and issued a $26.00 price target (down from $28.00) on shares of TELUS in a report on Monday, March 25th. Finally, BMO Capital Markets decreased their price objective on TELUS from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, TELUS has an average rating of “Hold” and an average target price of $27.72.

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.