437,801 TELUS Corporation $TU Shares Acquired by Vest Financial LLC

Vest Financial LLC lifted its position in TELUS Corporation (NYSE:TU) (TSE:T) by 51.0% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,296,867 shares of the Wireless communications provider’s stock after purchasing an additional 437,801 shares during the quarter. Vest Financial LLC owned approximately 0.08% of TELUS worth $10,881,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Focused Alpha LLC boosted its holdings in shares of TELUS by 7.5% in the third quarter. Focused Alpha LLC now owns 21,474 shares of the Wireless communications provider’s stock valued at $180,000 after acquiring an additional 1,501 shares during the period. Gold Investment Management Ltd. boosted its stake in TELUS by 9.9% during the 3rd quarter. Gold Investment Management Ltd. now owns 144,703 shares of the Wireless communications provider’s stock worth $1,215,000 after purchasing an additional 13,044 shares during the period. Burkett Asset Management Ltd boosted its stake in TELUS by 12.0% during the 3rd quarter. Burkett Asset Management Ltd now owns 28,000 shares of the Wireless communications provider’s stock worth $236,000 after purchasing an additional 3,000 shares during the period. Cidel Asset Management Inc. acquired a new stake in TELUS during the 2nd quarter worth $171,000. Finally, NewEdge Advisors LLC grew its position in TELUS by 1,396,900.0% during the 2nd quarter. NewEdge Advisors LLC now owns 27,940 shares of the Wireless communications provider’s stock worth $295,000 after purchasing an additional 27,938 shares during the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on TU. Bank of America restated an “underperform” rating on shares of TELUS in a research note on Tuesday, August 4th. Royal Bank Of Canada cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Tuesday, August 4th. Weiss Ratings downgraded shares of TELUS from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, August 5th. Raymond James Financial started coverage on shares of TELUS in a research note on Wednesday, July 15th. They set a “market perform” rating for the company. Finally, Wall Street Zen lowered TELUS from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Three investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, TELUS currently has a consensus rating of “Reduce” and a consensus price target of $15.00.

TELUS Trading Up 5.4%

NYSE:TU opened at $8.84 on Friday. TELUS Corporation has a 12-month low of $7.64 and a 12-month high of $15.29. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.88. The stock’s 50 day simple moving average is $8.92 and its 200-day simple moving average is $10.57. The firm has a market cap of $14.04 billion, a P/E ratio of 13.74, a PEG ratio of 19.87 and a beta of 0.65.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.04). TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. Equities analysts anticipate that TELUS Corporation will post 0.23 EPS for the current year.

TELUS Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th were given a dividend of C$0.19 per share. This represents a $0.75 dividend on an annualized basis and a yield of 8.5%. The ex-dividend date was Thursday, September 10th. This is a decrease from TELUS’s previous quarterly dividend of C$0.42. TELUS’s payout ratio is currently -131.71%.

TELUS Company Profile

TELUS Corporation is a Canadian communications and technology company headquartered in Vancouver, British Columbia. It provides telecommunications and digital services to consumers, businesses and public-sector organizations, primarily in Canada.

Its core offerings include wireless voice and data services, high-speed internet, television, home security and fixed-line voice services. TELUS also provides business connectivity, cloud, cybersecurity, information technology and communications solutions.