DekaBank Deutsche Girozentrale Lowers Stock Holdings in TELUS Co. (NYSE:TU)

DekaBank Deutsche Girozentrale cut its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 1.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 397,105 shares of the Wireless communications provider’s stock after selling 5,442 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in TELUS were worth $6,001,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in TU. Blue Trust Inc. lifted its stake in TELUS by 60.4% in the 2nd quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock valued at $41,000 after buying an additional 954 shares in the last quarter. Gulf International Bank UK Ltd lifted its position in shares of TELUS by 39.8% in the first quarter. Gulf International Bank UK Ltd now owns 2,752 shares of the Wireless communications provider’s stock valued at $44,000 after acquiring an additional 784 shares in the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of TELUS in the first quarter worth approximately $58,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of TELUS in the first quarter worth approximately $71,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of TELUS during the second quarter worth approximately $123,000. 49.40% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on TU shares. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Canaccord Genuity Group cut shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $27.33.

TELUS Stock Performance

NYSE TU opened at $16.87 on Wednesday. TELUS Co. has a fifty-two week low of $14.63 and a fifty-two week high of $19.14. The firm has a market capitalization of $24.99 billion, a P/E ratio of 43.24, a price-to-earnings-growth ratio of 2.58 and a beta of 0.74. The stock’s fifty day moving average is $16.17 and its two-hundred day moving average is $16.16. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.61 and a current ratio of 0.66.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.09. TELUS had a net margin of 3.87% and a return on equity of 8.50%. The firm had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same quarter in the previous year, the company posted $0.14 EPS. On average, research analysts anticipate that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.284 per share. The ex-dividend date is Tuesday, September 10th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.74%. This is an increase from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio (DPR) is currently 294.88%.

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.