Capital Research Global Investors Cuts Holdings in TELUS Co. (NYSE:TU)

Capital Research Global Investors lowered its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 4.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,729,180 shares of the Wireless communications provider’s stock after selling 598,018 shares during the period. Capital Research Global Investors’ holdings in TELUS were worth $186,150,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of TU. Bank of Nova Scotia raised its stake in shares of TELUS by 28.3% during the 4th quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider’s stock worth $409,662,000 after acquiring an additional 6,659,564 shares in the last quarter. Vanguard Group Inc. grew its holdings in TELUS by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider’s stock worth $349,841,000 after purchasing an additional 903,921 shares during the last quarter. Invesco Ltd. increased its position in shares of TELUS by 3.1% during the fourth quarter. Invesco Ltd. now owns 10,993,662 shares of the Wireless communications provider’s stock worth $149,074,000 after purchasing an additional 326,531 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of TELUS by 7.6% during the 4th quarter. First Trust Advisors LP now owns 7,254,608 shares of the Wireless communications provider’s stock valued at $98,372,000 after purchasing an additional 509,976 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of TELUS in the 4th quarter worth $70,212,000. Institutional investors own 49.40% of the company’s stock.

TELUS Stock Performance

Shares of TU opened at $15.00 on Monday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The stock has a 50-day moving average of $14.87 and a two-hundred day moving average of $14.92. The stock has a market cap of $22.70 billion, a P/E ratio of 30.60, a P/E/G ratio of 5.18 and a beta of 0.70. TELUS Co. has a one year low of $13.24 and a one year high of $17.27.

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

TELUS Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th were issued a $0.2829 dividend. This represents a $1.13 annualized dividend and a dividend yield of 7.55%. The ex-dividend date of this dividend was Tuesday, March 11th. TELUS’s dividend payout ratio (DPR) is currently 226.53%.

Analyst Ratings Changes

TU has been the subject of a number of research analyst reports. Cormark cut TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Bank of America lowered shares of TELUS from a “buy” rating to a “neutral” rating in a research report on Friday, March 21st. Finally, StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

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.