Summerhill Capital Management lnc. Sells 391,437 Shares of TELUS Co. (NYSE:TU)

Summerhill Capital Management lnc. cut its stake in TELUS Co. (NYSE:TU) (TSE:T) by 97.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,400 shares of the Wireless communications provider’s stock after selling 391,437 shares during the quarter. TELUS comprises approximately 0.1% of Summerhill Capital Management lnc.’s holdings, making the stock its 19th largest holding. Summerhill Capital Management lnc.’s holdings in TELUS were worth $127,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. National Bank of Canada FI increased its stake in TELUS by 24.2% in the third quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock worth $438,922,000 after purchasing an additional 5,094,269 shares during the period. FMR LLC increased its stake in TELUS by 192.0% in the third 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 during the period. Centre Asset Management LLC purchased a new stake in TELUS in the fourth quarter worth $6,946,000. Duff & Phelps Investment Management Co. increased its stake in TELUS by 13.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider’s stock worth $44,785,000 after purchasing an additional 317,000 shares during the period. Finally, Nicola Wealth Management LTD. increased its stake in TELUS by 35.7% in the third quarter. Nicola Wealth Management LTD. now owns 1,060,819 shares of the Wireless communications provider’s stock worth $17,801,000 after purchasing an additional 279,000 shares during the period. 49.40% of the stock is currently owned by institutional investors.

TELUS Stock Performance

Shares of TELUS stock opened at $15.41 on Friday. The firm has a market cap of $23.11 billion, a P/E ratio of 31.44, a P/E/G ratio of 5.09 and a beta of 0.75. 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 $18.16. The stock’s fifty day moving average price is $14.19 and its 200-day moving average price is $15.42.

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

TELUS Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be issued a dividend of $0.2829 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date is Tuesday, March 11th. TELUS’s dividend payout ratio (DPR) is 232.65%.

Wall Street Analysts Forecast Growth

TU has been the topic of a number of recent analyst reports. National Bank Financial lowered TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 13th. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Morgan Stanley started coverage on TELUS in a research note on Monday, December 16th. They set an “equal weight” rating on the stock. Finally, Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, October 28th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, TELUS presently has an average rating of “Hold” and a consensus price target of $26.00.

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.