TELUS Co. (NYSE:TU) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its position in TELUS Co. (NYSE:TU) (TSE:T) by 21.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,398 shares of the Wireless communications provider’s stock after selling 2,267 shares during the period. PNC Financial Services Group Inc.’s holdings in TELUS were worth $114,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TU. National Bank of Canada FI grew its stake in shares of TELUS by 24.2% in 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 purchasing an additional 5,094,269 shares during the last quarter. FMR LLC grew its position in TELUS by 192.0% in the third quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider’s stock worth $22,257,000 after buying an additional 872,235 shares during the last quarter. Centre Asset Management LLC bought a new position in shares of TELUS in the fourth quarter valued at $6,946,000. Duff & Phelps Investment Management Co. lifted its position in shares of TELUS by 13.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider’s stock valued at $44,785,000 after acquiring an additional 317,000 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of TELUS by 132.4% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 479,785 shares of the Wireless communications provider’s stock worth $8,048,000 after acquiring an additional 273,368 shares in the last quarter. 49.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TU shares. Bank of America downgraded TELUS from a “buy” rating to a “neutral” rating in a report on Friday. Cormark downgraded TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. National Bank Financial cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, December 13th. Morgan Stanley initiated coverage on shares of TELUS in a report on Monday, December 16th. They set an “equal weight” rating on the stock. Finally, StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.00.

TELUS Trading Down 1.0 %

Shares of NYSE TU opened at $13.80 on Tuesday. The firm has a market capitalization of $20.89 billion, a PE ratio of 28.15, a PEG ratio of 5.18 and a beta of 0.72. TELUS Co. has a one year low of $13.24 and a one year high of $17.27. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. The business has a 50-day moving average price of $14.84 and a two-hundred day moving average price of $15.26.

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

TELUS Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be paid a $0.2829 dividend. This represents a $1.13 dividend on an annualized basis and a dividend yield of 8.20%. The ex-dividend date of this dividend is Tuesday, March 11th. TELUS’s dividend payout ratio (DPR) is presently 226.53%.

About TELUS

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.