DORCHESTER WEALTH MANAGEMENT Co Trims Stock Holdings in TELUS Co. (NYSE:TU)

DORCHESTER WEALTH MANAGEMENT Co lowered its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 6.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 175,162 shares of the Wireless communications provider’s stock after selling 11,534 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in TELUS were worth $2,939,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TU. Fairscale Capital LLC acquired a new stake in TELUS during the second quarter valued at approximately $27,000. Blue Trust Inc. raised its stake in TELUS by 60.4% during the second 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. UniSuper Management Pty Ltd acquired a new stake in shares of TELUS during the 1st quarter worth approximately $58,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of TELUS during the 1st quarter worth approximately $71,000. Finally, Acadian Asset Management LLC bought a new position in TELUS during the 2nd quarter valued at $123,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Wall Street Analysts Forecast Growth

TU has been the subject of a number of research analyst reports. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Canaccord Genuity Group lowered TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.00.

TELUS Stock Performance

TU stock traded down $0.13 during trading on Thursday, reaching $16.04. 419,019 shares of the stock were exchanged, compared to its average volume of 2,207,237. TELUS Co. has a twelve month low of $14.63 and a twelve month high of $19.14. The stock has a 50 day simple moving average of $16.40 and a 200-day simple moving average of $16.14. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $23.77 billion, a P/E ratio of 40.41, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74.

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 (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.09. The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.70 billion. TELUS had a net margin of 3.87% and a return on equity of 8.50%. During the same quarter in the previous year, the business earned $0.14 EPS. As a group, sell-side analysts anticipate that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were given a dividend of $0.284 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.08%. The ex-dividend date was Tuesday, September 10th. This is a positive change from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio is presently 287.50%.

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.