Truist Financial Corp Reduces Stock Holdings in TELUS Co. (NYSE:TU)

Truist Financial Corp reduced its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 15.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,978 shares of the Wireless communications provider’s stock after selling 7,285 shares during the quarter. Truist Financial Corp’s holdings in TELUS were worth $542,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. National Bank of Canada FI grew its stake in TELUS by 24.2% during the 3rd quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock valued at $438,922,000 after purchasing an additional 5,094,269 shares in the last quarter. FMR LLC grew its stake in TELUS by 192.0% during the 3rd quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider’s stock valued at $22,257,000 after purchasing an additional 872,235 shares in the last quarter. Centre Asset Management LLC acquired a new stake in TELUS during the 4th quarter valued at approximately $6,946,000. Duff & Phelps Investment Management Co. grew its stake in TELUS by 13.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider’s stock valued at $44,785,000 after purchasing an additional 317,000 shares in the last quarter. Finally, Nicola Wealth Management LTD. grew its stake in TELUS by 35.7% during the 3rd quarter. Nicola Wealth Management LTD. now owns 1,060,819 shares of the Wireless communications provider’s stock valued at $17,801,000 after purchasing an additional 279,000 shares in the last quarter. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TU. Morgan Stanley began coverage on TELUS in a research report on Monday, December 16th. They issued an “equal weight” rating for the company. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, National Bank Financial lowered TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $26.00.

TELUS Price Performance

Shares of TU opened at $15.50 on Tuesday. The firm has a market cap of $23.25 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 5.18 and a beta of 0.75. The stock has a 50 day moving average of $14.42 and a 200-day moving average of $15.38. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $17.77.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a return on equity of 9.07% and a net margin of 4.85%. During the same quarter last year, the business posted $0.10 EPS. As a group, analysts forecast that TELUS Co. will post 0.71 EPS for the current year.

TELUS Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be issued a $0.2829 dividend. This represents a $1.13 annualized dividend and a dividend yield of 7.30%. The ex-dividend date of this dividend is Tuesday, March 11th. TELUS’s dividend payout ratio (DPR) is 224.49%.

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.