BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 15,800 Shares of TELUS Co. (NYSE:TU)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 375,961 shares of the Wireless communications provider’s stock after selling 15,800 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in TELUS were worth $6,309,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TU. Gold Investment Management Ltd. raised its holdings in TELUS by 0.7% in the second quarter. Gold Investment Management Ltd. now owns 93,275 shares of the Wireless communications provider’s stock worth $1,412,000 after purchasing an additional 641 shares during the period. Walter Public Investments Inc. lifted its holdings in TELUS by 1.8% during the second quarter. Walter Public Investments Inc. now owns 37,453 shares of the Wireless communications provider’s stock worth $567,000 after acquiring an additional 653 shares in the last quarter. Blue Trust Inc. grew its stake in TELUS by 60.4% in the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock valued at $41,000 after acquiring an additional 954 shares during the period. Trust Co. of Vermont increased its holdings in shares of TELUS by 19.0% in the third quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock worth $128,000 after acquiring an additional 1,218 shares in the last quarter. Finally, Fairscale Capital LLC acquired a new stake in shares of TELUS during the second quarter worth about $27,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TU. Canaccord Genuity Group downgraded TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. Finally, StockNews.com lowered TELUS from a “hold” rating to a “sell” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, TELUS currently has an average rating of “Hold” and a consensus target price of $26.00.

TELUS Stock Performance

Shares of TU stock opened at $15.20 on Monday. The company has a fifty day moving average price of $16.08 and a two-hundred day moving average price of $16.06. TELUS Co. has a one year low of $14.63 and a one year high of $19.14. The stock has a market cap of $22.68 billion, a P/E ratio of 32.34, a P/E/G ratio of 2.19 and a beta of 0.75. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.63.

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

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a dividend of $0.297 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This is a positive change from TELUS’s previous quarterly dividend of $0.28. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.82%. TELUS’s payout ratio is presently 244.69%.

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.