Massachusetts Financial Services Co. MA Sells 16,362 Shares of TELUS Co. (NYSE:TU)

Massachusetts Financial Services Co. MA lowered its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 0.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,766,811 shares of the Wireless communications provider’s stock after selling 16,362 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in TELUS were worth $29,647,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. 1832 Asset Management L.P. raised its holdings in shares of TELUS by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider’s stock valued at $578,253,000 after purchasing an additional 2,365,753 shares during the period. Fiera Capital Corp raised its holdings in shares of TELUS by 9.9% during the second quarter. Fiera Capital Corp now owns 16,670,713 shares of the Wireless communications provider’s stock valued at $252,468,000 after purchasing an additional 1,501,742 shares during the period. TD Asset Management Inc raised its holdings in shares of TELUS by 3.0% during the second quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider’s stock valued at $631,310,000 after purchasing an additional 1,208,720 shares during the period. Toronto Dominion Bank raised its holdings in shares of TELUS by 5.4% during the second quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider’s stock valued at $188,835,000 after purchasing an additional 636,845 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of TELUS by 2.6% during the first quarter. Vanguard Group Inc. now owns 23,436,455 shares of the Wireless communications provider’s stock valued at $375,218,000 after purchasing an additional 602,440 shares during the period. Institutional investors own 49.40% of the company’s stock.

TELUS Trading Up 1.8 %

NYSE:TU opened at $15.48 on Tuesday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.69. The firm has a market cap of $23.22 billion, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 2.19 and a beta of 0.75. TELUS Co. has a 52 week low of $14.63 and a 52 week high of $19.14. The firm has a 50-day moving average price of $16.05 and a two-hundred day moving average price of $16.06.

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

TELUS Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TU. Canaccord Genuity Group lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Finally, Scotiabank upgraded shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.