K.J. Harrison & Partners Inc Trims Holdings in TELUS Corporation $TU

K.J. Harrison & Partners Inc trimmed its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 69.9% in the 3rd quarter, Holdings Channel reports. The firm owned 54,478 shares of the Wireless communications provider’s stock after selling 126,486 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in TELUS were worth $849,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in TELUS in the 2nd quarter worth about $77,455,000. Arrowstreet Capital Limited Partnership boosted its position in TELUS by 114.3% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,450,381 shares of the Wireless communications provider’s stock valued at $103,624,000 after buying an additional 3,439,940 shares during the period. Picton Mahoney Asset Management bought a new position in TELUS in the 2nd quarter worth about $51,091,000. AGF Management Ltd. increased its position in shares of TELUS by 313.3% during the second quarter. AGF Management Ltd. now owns 3,174,857 shares of the Wireless communications provider’s stock worth $51,355,000 after acquiring an additional 2,406,734 shares during the period. Finally, Fiera Capital Corp raised its stake in shares of TELUS by 10.7% during the third quarter. Fiera Capital Corp now owns 17,867,796 shares of the Wireless communications provider’s stock valued at $281,326,000 after acquiring an additional 1,725,982 shares in the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Scotiabank reissued an “outperform” rating on shares of TELUS in a research note on Tuesday, February 17th. National Bank Financial restated an “outperform” rating on shares of TELUS in a research note on Thursday, December 4th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $19.00 price objective (down from $22.00) on shares of TELUS in a report on Tuesday, November 18th. Wall Street Zen cut shares of TELUS from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of TELUS in a research report on Monday, December 29th. Five analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, TELUS currently has an average rating of “Hold” and an average target price of $18.17.

TELUS Trading Up 1.7%

TU opened at $13.68 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. The firm has a market cap of $21.18 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.59 and a beta of 0.67. TELUS Corporation has a 12 month low of $12.54 and a 12 month high of $16.74. The stock has a fifty day moving average price of $13.51 and a 200-day moving average price of $14.48.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). The company had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.85 billion. TELUS had a net margin of 5.42% and a return on equity of 8.42%. During the same quarter last year, the firm earned $0.25 EPS. As a group, equities research analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th will be paid a dividend of $0.4184 per share. This represents a $1.67 annualized dividend and a dividend yield of 12.2%. The ex-dividend date is Wednesday, March 11th. TELUS’s payout ratio is 230.77%.

About TELUS

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.