K.J. Harrison & Partners Inc Cuts Stock Holdings in TELUS Corporation $TU

K.J. Harrison & Partners Inc reduced its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 69.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,478 shares of the Wireless communications provider’s stock after selling 126,486 shares during the period. K.J. Harrison & Partners Inc’s holdings in TELUS were worth $849,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Parvin Asset Management LLC purchased a new position in shares of TELUS during the second quarter valued at about $27,000. Farther Finance Advisors LLC boosted its stake in TELUS by 35.0% during the third quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 759 shares during the last quarter. CWM LLC grew its holdings in TELUS by 169.6% during the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock valued at $59,000 after buying an additional 2,301 shares in the last quarter. State of Wyoming purchased a new position in TELUS during the 2nd quarter valued at approximately $61,000. Finally, Blue Trust Inc. increased its stake in TELUS by 23.8% in the 3rd quarter. Blue Trust Inc. now owns 3,994 shares of the Wireless communications provider’s stock worth $63,000 after acquiring an additional 767 shares during the last quarter. Institutional investors own 49.40% of the company’s stock.

TELUS Trading Up 1.7%

TU stock opened at $13.68 on Friday. TELUS Corporation has a twelve month low of $12.54 and a twelve month high of $16.74. The stock has a market capitalization of $21.18 billion, a price-to-earnings ratio of 26.31, a price-to-earnings-growth ratio of 1.59 and a beta of 0.67. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.65. The firm’s fifty day simple moving average is $13.51 and its two-hundred day simple moving average is $14.48.

TELUS (NYSE:TU) (TSE:T) last released its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). The firm had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.85 billion. TELUS had a return on equity of 8.42% and a net margin of 5.42%.During the same quarter last year, the business posted $0.25 EPS. As a group, analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be paid a dividend of $0.4184 per share. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 12.2%. TELUS’s dividend payout ratio is currently 230.77%.

Analyst Ratings Changes

TU has been the subject of a number of research reports. Scotiabank reiterated an “outperform” rating on shares of TELUS in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of TELUS in a research note on Monday, December 29th. Canaccord Genuity Group raised shares of TELUS from a “hold” rating to a “buy” rating in a research note on Thursday, December 4th. National Bank Financial restated an “outperform” rating on shares of TELUS in a research report on Thursday, December 4th. Finally, Wall Street Zen downgraded shares of TELUS from a “hold” rating to a “sell” rating in a report on Saturday, February 21st. Five equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $18.17.

TELUS Company Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.