Cumberland Partners Ltd Trims Stock Holdings in TELUS Co. (NYSE:TU)

Cumberland Partners Ltd trimmed its position in TELUS Co. (NYSE:TU) (TSE:T) by 83.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,424 shares of the Wireless communications provider’s stock after selling 66,400 shares during the period. Cumberland Partners Ltd’s holdings in TELUS were worth $182,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of TELUS by 195,100.0% in the fourth quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider’s stock worth $26,000 after acquiring an additional 1,951 shares during the last quarter. Blue Trust Inc. grew its stake in shares of TELUS by 58.0% in the third quarter. Blue Trust Inc. now owns 4,001 shares of the Wireless communications provider’s stock worth $67,000 after acquiring an additional 1,468 shares during the last quarter. Avior Wealth Management LLC grew its stake in shares of TELUS by 1,756.0% in the fourth quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider’s stock worth $65,000 after acquiring an additional 4,548 shares during the last quarter. Triasima Portfolio Management inc. purchased a new stake in shares of TELUS in the fourth quarter worth $146,000. Finally, Private Advisor Group LLC purchased a new stake in shares of TELUS in the third quarter worth $187,000. 49.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. National Bank Financial cut TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 13th. StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Morgan Stanley initiated coverage on TELUS in a research note on Monday, December 16th. They issued an “equal weight” rating on the stock. Finally, Scotiabank raised TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.00.

TELUS Trading Up 1.1 %

TELUS stock opened at $15.41 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. TELUS Co. has a one year low of $13.24 and a one year high of $18.16. The stock has a market capitalization of $23.11 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 5.07 and a beta of 0.75. The business’s fifty day moving average is $14.19 and its 200 day moving average is $15.42.

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

TELUS Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th will be given a $0.2829 dividend. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.13 annualized dividend and a yield of 7.34%. TELUS’s payout ratio is 232.65%.

TELUS Company 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.