Canada Pension Plan Investment Board Has $6.10 Million Stock Position in TELUS Co. (NYSE:TU)

Canada Pension Plan Investment Board lessened its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 8.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 450,122 shares of the Wireless communications provider’s stock after selling 43,569 shares during the quarter. Canada Pension Plan Investment Board’s holdings in TELUS were worth $6,095,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Barclays PLC raised its stake in TELUS by 38.5% in the 3rd quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider’s stock valued at $7,839,000 after acquiring an additional 129,934 shares during the period. American Century Companies Inc. grew its stake in TELUS by 4.6% in the 4th quarter. American Century Companies Inc. now owns 119,665 shares of the Wireless communications provider’s stock valued at $1,623,000 after buying an additional 5,286 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc raised its holdings in TELUS by 6.9% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,017,200 shares of the Wireless communications provider’s stock valued at $13,785,000 after acquiring an additional 65,940 shares during the period. Nexus Investment Management ULC lifted its position in TELUS by 1.8% during the fourth quarter. Nexus Investment Management ULC now owns 2,225,265 shares of the Wireless communications provider’s stock worth $30,103,000 after acquiring an additional 38,450 shares during the last quarter. Finally, Centre Asset Management LLC bought a new stake in shares of TELUS during the fourth quarter worth approximately $6,946,000. Institutional investors own 49.40% of the company’s stock.

TELUS Price Performance

Shares of NYSE TU opened at $15.16 on Tuesday. The stock has a market capitalization of $22.95 billion, a PE ratio of 30.94, a P/E/G ratio of 5.18 and a beta of 0.70. TELUS Co. has a fifty-two week low of $13.24 and a fifty-two week high of $17.27. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. The business has a fifty day moving average price of $14.88 and a two-hundred day moving average price of $14.92.

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

TELUS Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were paid a $0.2829 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a yield of 7.46%. TELUS’s dividend payout ratio (DPR) is 226.53%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Cormark downgraded TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Bank of America cut shares of TELUS from a “buy” rating to a “neutral” rating in a research report on Friday, March 21st. Finally, StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold”.

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.