Dynamic Technology Lab Private Ltd Decreases Holdings in TELUS Co. (NYSE:TU)

Dynamic Technology Lab Private Ltd reduced its stake in TELUS Co. (NYSE:TU) (TSE:T) by 30.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,697 shares of the Wireless communications provider’s stock after selling 38,364 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in TELUS were worth $1,472,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fairscale Capital LLC purchased a new position in shares of TELUS in the second quarter valued at $27,000. Blue Trust Inc. increased its position in shares of TELUS by 60.4% during the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock worth $41,000 after acquiring an additional 954 shares during the last quarter. UniSuper Management Pty Ltd acquired a new position in shares of TELUS in the first quarter worth about $58,000. Acadian Asset Management LLC purchased a new position in TELUS in the second quarter valued at about $123,000. Finally, Trust Co. of Vermont grew its stake in TELUS by 19.0% during the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock valued at $128,000 after purchasing an additional 1,218 shares in the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TU. Scotiabank raised TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. Canaccord Genuity Group downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, StockNews.com downgraded shares of TELUS from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, TELUS presently has an average rating of “Hold” and an average price target of $26.00.

TELUS Stock Performance

TU stock opened at $15.48 on Tuesday. The stock’s 50 day simple moving average is $16.05 and its 200 day simple moving average is $16.06. TELUS Co. has a 12-month low of $14.63 and a 12-month high of $19.14. The firm has a market cap of $23.22 billion, a P/E ratio of 32.94, a P/E/G ratio of 2.19 and a beta of 0.75. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The company had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period last year, the firm posted $0.19 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts predict that TELUS Co. will post 0.73 EPS for the current year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.297 per share. The ex-dividend date is Wednesday, December 11th. This is a positive change from TELUS’s previous quarterly dividend of $0.28. This represents a $1.19 annualized dividend and a dividend yield of 7.67%. TELUS’s dividend payout ratio is 244.69%.

TELUS 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.