TELUS Co. (NYSE:TU) Shares Sold by Rempart Asset Management Inc.

Rempart Asset Management Inc. lessened its stake in TELUS Co. (NYSE:TU) (TSE:T) by 27.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,438 shares of the Wireless communications provider’s stock after selling 19,140 shares during the quarter. Rempart Asset Management Inc.’s holdings in TELUS were worth $669,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TU. 1832 Asset Management L.P. increased its stake in shares of TELUS by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider’s stock worth $578,253,000 after acquiring an additional 2,365,753 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of TELUS by 24.2% during the 3rd quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock worth $438,922,000 after buying an additional 5,094,269 shares during the last quarter. Fiera Capital Corp raised its position in shares of TELUS by 1.3% during the 3rd quarter. Fiera Capital Corp now owns 16,882,528 shares of the Wireless communications provider’s stock valued at $283,854,000 after buying an additional 211,815 shares during the period. Toronto Dominion Bank lifted its holdings in TELUS by 5.4% in the second quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider’s stock valued at $188,835,000 after acquiring an additional 636,845 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in TELUS by 0.7% in the third quarter. Janus Henderson Group PLC now owns 6,701,819 shares of the Wireless communications provider’s stock worth $112,610,000 after acquiring an additional 49,088 shares during the period. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TU. StockNews.com cut shares of TELUS from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. National Bank Financial lowered TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. Finally, Morgan Stanley assumed coverage on TELUS in a report on Monday, December 16th. They set an “equal weight” rating for the company. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $26.00.

TELUS Stock Down 0.9 %

Shares of NYSE:TU traded down $0.13 during trading hours on Wednesday, reaching $13.83. The stock had a trading volume of 461,618 shares, compared to its average volume of 2,821,376. The stock has a market capitalization of $20.75 billion, a price-to-earnings ratio of 29.43, a P/E/G ratio of 2.10 and a beta of 0.74. The firm’s 50 day moving average is $14.89 and its 200-day moving average is $15.68. TELUS Co. has a 1 year low of $13.24 and a 1 year high of $18.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.69.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. The firm had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $3.69 billion. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.19 earnings per share. Research analysts predict that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were given a dividend of $0.297 per share. The ex-dividend date was Wednesday, December 11th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 8.59%. This is a boost from TELUS’s previous quarterly dividend of $0.28. TELUS’s payout ratio is 253.19%.

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.