Connor Clark & Lunn Investment Management Ltd. Sells 120,499 Shares of Telephone and Data Systems, Inc. (NYSE:TDS)

Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Telephone and Data Systems, Inc. (NYSE:TDS) by 42.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 164,407 shares of the Wireless communications provider’s stock after selling 120,499 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.15% of Telephone and Data Systems worth $5,608,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TDS. OneDigital Investment Advisors LLC bought a new position in Telephone and Data Systems during the third quarter worth $211,000. Natixis Advisors LLC increased its position in Telephone and Data Systems by 23.7% during the third quarter. Natixis Advisors LLC now owns 69,818 shares of the Wireless communications provider’s stock worth $1,624,000 after acquiring an additional 13,385 shares during the period. Quest Partners LLC increased its position in Telephone and Data Systems by 277.6% during the third quarter. Quest Partners LLC now owns 14,897 shares of the Wireless communications provider’s stock worth $346,000 after acquiring an additional 10,952 shares during the period. Intech Investment Management LLC boosted its stake in Telephone and Data Systems by 56.4% during the third quarter. Intech Investment Management LLC now owns 57,001 shares of the Wireless communications provider’s stock worth $1,325,000 after buying an additional 20,564 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Telephone and Data Systems by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,463,863 shares of the Wireless communications provider’s stock worth $34,035,000 after buying an additional 103,114 shares in the last quarter. Institutional investors own 80.00% of the company’s stock.

Telephone and Data Systems Stock Up 3.1 %

TDS opened at $35.03 on Monday. Telephone and Data Systems, Inc. has a fifty-two week low of $14.04 and a fifty-two week high of $41.21. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.59 and a quick ratio of 1.44. The firm’s fifty day moving average price is $35.87 and its two-hundred day moving average price is $31.33. The company has a market capitalization of $3.99 billion, a P/E ratio of -6.49 and a beta of 0.75.

Telephone and Data Systems (NYSE:TDS) last issued its earnings results on Friday, February 21st. The Wireless communications provider reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.23. Telephone and Data Systems had a negative net margin of 10.72% and a positive return on equity of 1.12%. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.23 billion. On average, analysts anticipate that Telephone and Data Systems, Inc. will post -0.31 EPS for the current year.

Telephone and Data Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.16 annualized dividend and a dividend yield of 0.46%. Telephone and Data Systems’s dividend payout ratio is presently -18.60%.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lifted their price target on shares of Telephone and Data Systems from $53.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, February 24th.

Telephone and Data Systems Company Profile

Telephone and Data Systems, Inc, a telecommunications company, provides communications services in the United States. It operates through two segments: UScellular and TDS Telecom. The company offers wireless solutions to consumers, and business and government customers, including a suite of connected Internet of things (IoT) solutions, and software applications for monitor and control, business automation/operations, communication, fleet and asset management, smart water solutions, private cellular networks and custom, and end-to-end IoT solutions; wireless priority services and quality priority and preemption options; smartphones and other handsets, tablets, wearables, mobile hotspots, fixed wireless home internet, and IoT devices; and accessories, such as cases, screen protectors, chargers, and memory cards, as well as consumer electronics, including audio, home automation and networking products.