Heathbridge Capital Management Ltd. lowered its position in TELUS Co. (NYSE:TU – Free Report) (TSE:T) by 22.0% during the second quarter, HoldingsChannel.com reports. The fund owned 736,045 shares of the Wireless communications provider’s stock after selling 208,100 shares during the quarter. TELUS accounts for approximately 6.2% of Heathbridge Capital Management Ltd.’s holdings, making the stock its 6th largest holding. Heathbridge Capital Management Ltd.’s holdings in TELUS were worth $14,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of TU. Bessemer Group Inc. lifted its stake in TELUS by 227.5% in the 1st quarter. Bessemer Group Inc. now owns 1,598 shares of the Wireless communications provider’s stock valued at $32,000 after buying an additional 1,110 shares in the last quarter. Glass Jacobson Investment Advisors llc purchased a new stake in shares of TELUS in the second quarter valued at $70,000. Pacer Advisors Inc. lifted its holdings in TELUS by 29.1% in the 2nd quarter. Pacer Advisors Inc. now owns 4,681 shares of the Wireless communications provider’s stock valued at $91,000 after purchasing an additional 1,054 shares in the last quarter. Captrust Financial Advisors lifted its holdings in TELUS by 18.1% in the 2nd quarter. Captrust Financial Advisors now owns 4,669 shares of the Wireless communications provider’s stock valued at $104,000 after purchasing an additional 717 shares in the last quarter. Finally, Icon Wealth Partners LLC purchased a new position in TELUS in the 1st quarter valued at about $115,000. 49.48% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on TU shares. BMO Capital Markets reduced their price objective on shares of TELUS from C$29.00 to C$27.00 in a research note on Monday, August 7th. Scotiabank reduced their price target on TELUS from C$29.50 to C$28.00 in a research note on Tuesday, August 8th. Bank of America reduced their target price on TELUS from C$33.00 to C$30.00 in a research report on Friday, October 6th. TD Securities reduced their target price on TELUS from C$30.00 to C$29.00 in a research report on Tuesday, August 8th. Finally, StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a report on Wednesday.
TELUS Stock Down 0.1 %
TELUS stock traded down $0.01 during midday trading on Friday, hitting $17.66. 2,016,818 shares of the stock were exchanged, compared to its average volume of 1,789,090. TELUS Co. has a 1 year low of $15.47 and a 1 year high of $21.94. The firm has a market cap of $25.68 billion, a P/E ratio of 43.07, a P/E/G ratio of 3.53 and a beta of 0.73. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.66 and a quick ratio of 0.61. The company has a 50 day moving average price of $16.77 and a two-hundred day moving average price of $18.04.
TELUS Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be paid a $0.271 dividend. The ex-dividend date is Friday, December 8th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 6.14%. TELUS’s dividend payout ratio (DPR) is presently 263.42%.
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; 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.
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