Tacita Capital Inc Lowers Stock Holdings in TELUS Co. (NYSE:TU)

Tacita Capital Inc lessened its position in TELUS Co. (NYSE:TU) (TSE:T) by 7.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 17,754 shares of the Wireless communications provider’s stock after selling 1,500 shares during the quarter. Tacita Capital Inc’s holdings in TELUS were worth $240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Jones Financial Companies Lllp increased its holdings in shares of TELUS by 80.5% in the fourth quarter. Jones Financial Companies Lllp now owns 48,244 shares of the Wireless communications provider’s stock valued at $654,000 after purchasing an additional 21,510 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of TELUS by 3.3% in the fourth quarter. Bank of New York Mellon Corp now owns 466,034 shares of the Wireless communications provider’s stock valued at $6,319,000 after purchasing an additional 15,025 shares during the last quarter. Lincluden Management Ltd. increased its holdings in shares of TELUS by 1.0% in the fourth quarter. Lincluden Management Ltd. now owns 1,959,730 shares of the Wireless communications provider’s stock valued at $26,570,000 after purchasing an additional 19,196 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co increased its holdings in shares of TELUS by 10.0% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 192,634 shares of the Wireless communications provider’s stock valued at $2,609,000 after purchasing an additional 17,472 shares during the last quarter. Finally, Sanctuary Advisors LLC acquired a new stake in shares of TELUS in the fourth quarter valued at approximately $512,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on TU shares. StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Morgan Stanley assumed coverage on TELUS in a research note on Monday, December 16th. They set an “equal weight” rating for the company. Finally, National Bank Financial cut TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.00.

TELUS Price Performance

TU stock opened at $15.50 on Tuesday. The business has a fifty day moving average of $14.42 and a two-hundred day moving average of $15.38. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. The stock has a market cap of $23.25 billion, a price-to-earnings ratio of 31.63, a price-to-earnings-growth ratio of 5.18 and a beta of 0.75. TELUS Co. has a 52-week low of $13.24 and a 52-week high of $17.77.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. TELUS had a return on equity of 9.07% and a net margin of 4.85%. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter last year, the firm earned $0.10 earnings per share. As a group, research analysts anticipate that TELUS Co. will post 0.71 earnings per share for the current year.

TELUS Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be given a dividend of $0.2829 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.13 annualized dividend and a dividend yield of 7.30%. TELUS’s dividend payout ratio is currently 224.49%.

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.