Cumberland Partners Ltd Acquires 2,256 Shares of TELUS Co. (NYSE:TU)

Cumberland Partners Ltd boosted its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 10.1% during the fourth quarter, HoldingsChannel reports. The fund owned 24,670 shares of the Wireless communications provider’s stock after purchasing an additional 2,256 shares during the quarter. Cumberland Partners Ltd’s holdings in TELUS were worth $404,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. VisionPoint Advisory Group LLC grew its holdings in TELUS by 80.8% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider’s stock worth $27,000 after acquiring an additional 739 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in TELUS during the 4th quarter worth approximately $33,000. CVA Family Office LLC bought a new stake in TELUS during the 4th quarter worth approximately $49,000. CWM LLC boosted its stake in shares of TELUS by 104.3% in the 4th quarter. CWM LLC now owns 3,891 shares of the Wireless communications provider’s stock valued at $69,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of TELUS in the 3rd quarter valued at $172,000. 49.40% of the stock is owned by institutional investors.

TELUS Stock Down 1.2 %

Shares of TELUS stock traded down $0.19 during trading on Wednesday, reaching $16.02. 1,665,345 shares of the company traded hands, compared to its average volume of 2,471,986. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.62. TELUS Co. has a 1-year low of $15.35 and a 1-year high of $21.28. The company has a 50 day moving average price of $16.70 and a 200-day moving average price of $17.28. The firm has a market capitalization of $23.65 billion, a PE ratio of 37.71, a P/E/G ratio of 1.96 and a beta of 0.72.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, February 9th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.01. TELUS had a net margin of 4.18% and a return on equity of 7.81%. The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.24 billion. During the same quarter in the prior year, the company posted $0.17 earnings per share. The business’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts expect that TELUS Co. will post 0.76 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $0.2793 per share. This is an increase from TELUS’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, March 8th. This represents a $1.12 annualized dividend and a yield of 6.97%. TELUS’s dividend payout ratio is presently 258.14%.

Analyst Ratings Changes

TU has been the topic of a number of analyst reports. StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. JPMorgan Chase & Co. lowered shares of TELUS from an “overweight” rating to a “neutral” rating in a research note on Thursday, January 4th. BMO Capital Markets reduced their price objective on shares of TELUS from $27.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, February 12th. Finally, Scotiabank reaffirmed a “sector perform” rating and issued a $26.00 price objective (down from $28.00) on shares of TELUS in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, TELUS currently has an average rating of “Hold” and a consensus target price of $27.72.

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.