TELUS Co. (NYSE:TU) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC decreased its holdings in shares of TELUS Co. (NYSE:TUGet Rating) (TSE:T) by 0.8% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,372,987 shares of the Wireless communications provider’s stock after selling 19,427 shares during the period. Neuberger Berman Group LLC’s holdings in TELUS were worth $62,129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Capital World Investors raised its stake in TELUS by 6.7% during the first quarter. Capital World Investors now owns 76,276 shares of the Wireless communications provider’s stock worth $1,993,000 after acquiring an additional 4,794 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of TELUS by 705.7% in the first quarter. BNP Paribas Arbitrage SA now owns 272,994 shares of the Wireless communications provider’s stock valued at $7,136,000 after purchasing an additional 239,113 shares during the period. Advisors Asset Management Inc. increased its stake in shares of TELUS by 46.7% in the first quarter. Advisors Asset Management Inc. now owns 26,964 shares of the Wireless communications provider’s stock valued at $705,000 after purchasing an additional 8,585 shares during the period. Jane Street Group LLC increased its stake in shares of TELUS by 9.1% in the first quarter. Jane Street Group LLC now owns 216,542 shares of the Wireless communications provider’s stock valued at $5,660,000 after purchasing an additional 17,998 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its stake in shares of TELUS by 313.9% in the first quarter. Dynamic Technology Lab Private Ltd now owns 44,357 shares of the Wireless communications provider’s stock valued at $1,160,000 after purchasing an additional 33,640 shares during the period. Institutional investors and hedge funds own 49.71% of the company’s stock.

TELUS Stock Up 0.2 %

TELUS stock opened at $21.69 on Monday. The company has a market capitalization of $30.08 billion, a P/E ratio of 20.46, a P/E/G ratio of 2.07 and a beta of 0.66. The firm’s fifty day simple moving average is $22.65 and its 200-day simple moving average is $24.06. The company has a current ratio of 0.58, a quick ratio of 0.53 and a debt-to-equity ratio of 1.11. TELUS Co. has a 1-year low of $21.34 and a 1-year high of $27.50.

TELUS (NYSE:TUGet Rating) (TSE:T) last released its quarterly earnings results on Friday, August 5th. The Wireless communications provider reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.10. The business had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.45 billion. TELUS had a net margin of 10.35% and a return on equity of 9.57%. TELUS’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.21 EPS. Sell-side analysts forecast that TELUS Co. will post 1.03 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 9th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.89%. This is an increase from TELUS’s previous quarterly dividend of $0.26. TELUS’s dividend payout ratio (DPR) is currently 97.17%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TU shares. TD Securities upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research note on Friday, June 17th. BMO Capital Markets decreased their price objective on shares of TELUS from C$37.00 to C$36.00 in a report on Friday, June 17th. StockNews.com cut shares of TELUS from a “hold” rating to a “sell” rating in a report on Wednesday, September 7th. Finally, Scotiabank raised their price objective on shares of TELUS from C$34.00 to C$34.50 in a research note on Tuesday, September 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, TELUS currently has a consensus rating of “Hold” and an average target price of $34.11.

About TELUS

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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 revenue; mobile technologies equipment sale; data revenues, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services.

See Also

Want to see what other hedge funds are holding TU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TELUS Co. (NYSE:TUGet Rating) (TSE:T).

Institutional Ownership by Quarter for TELUS (NYSE:TU)

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