Corient Private Wealth LLC Sells 1,347 Shares of TELUS Co. (NYSE:TU)

Corient Private Wealth LLC lowered its stake in TELUS Co. (NYSE:TU) (TSE:T) by 9.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,240 shares of the Wireless communications provider’s stock after selling 1,347 shares during the period. Corient Private Wealth LLC’s holdings in TELUS were worth $180,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TU. Charles Schwab Investment Management Inc. grew its stake in shares of TELUS by 21.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,515,242 shares of the Wireless communications provider’s stock worth $25,447,000 after acquiring an additional 264,055 shares during the last quarter. Cerity Partners LLC boosted its stake in TELUS by 7.5% in the 3rd quarter. Cerity Partners LLC now owns 42,341 shares of the Wireless communications provider’s stock worth $710,000 after purchasing an additional 2,964 shares in the last quarter. FMR LLC boosted its stake in TELUS by 192.0% in the 3rd quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider’s stock worth $22,257,000 after purchasing an additional 872,235 shares in the last quarter. BNP Paribas Financial Markets grew its position in TELUS by 188.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 135,825 shares of the Wireless communications provider’s stock valued at $2,279,000 after purchasing an additional 88,771 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in TELUS by 2.0% during the 3rd quarter. Public Sector Pension Investment Board now owns 77,198 shares of the Wireless communications provider’s stock valued at $1,297,000 after purchasing an additional 1,500 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.

TELUS Trading Up 0.2 %

Shares of TU stock opened at $14.38 on Wednesday. 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 12-month low of $13.24 and a 12-month high of $17.27. The stock has a market capitalization of $21.76 billion, a P/E ratio of 29.34, a P/E/G ratio of 5.18 and a beta of 0.72. The firm’s 50 day moving average is $14.88 and its 200 day moving average is $15.15.

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

TELUS Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.2829 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.87%. TELUS’s dividend payout ratio is currently 226.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on TU shares. Bank of America cut shares of TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. National Bank Financial downgraded TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 13th. Morgan Stanley assumed coverage on TELUS in a research note on Monday, December 16th. They issued an “equal weight” rating for the company. Cormark cut TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has an average 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.