Beutel Goodman & Co Ltd. Sells 267,895 Shares of TELUS Co. (TU)

Beutel Goodman & Co Ltd. trimmed its position in TELUS Co. (NYSE:TU) (TSE:T) by 2.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,922,109 shares of the Wireless communications provider’s stock after selling 267,895 shares during the quarter. TELUS accounts for 2.4% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 13th largest position. Beutel Goodman & Co Ltd. owned about 1.50% of TELUS worth $328,610,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TU. Assenagon Asset Management S.A. raised its stake in TELUS by 111.5% during the third quarter. Assenagon Asset Management S.A. now owns 188,023 shares of the Wireless communications provider’s stock worth $6,926,000 after acquiring an additional 99,136 shares in the last quarter. CWM LLC raised its stake in TELUS by 5,355.6% during the third quarter. CWM LLC now owns 6,874 shares of the Wireless communications provider’s stock worth $253,000 after acquiring an additional 6,748 shares in the last quarter. First Trust Advisors LP raised its stake in TELUS by 5.4% during the third quarter. First Trust Advisors LP now owns 1,154,484 shares of the Wireless communications provider’s stock worth $42,531,000 after acquiring an additional 58,710 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in TELUS by 6.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 5,447,649 shares of the Wireless communications provider’s stock worth $200,692,000 after acquiring an additional 325,642 shares in the last quarter. Finally, Summit Financial Wealth Advisors LLC raised its stake in TELUS by 34.7% during the third quarter. Summit Financial Wealth Advisors LLC now owns 97,322 shares of the Wireless communications provider’s stock worth $3,338,000 after acquiring an additional 25,060 shares in the last quarter. Institutional investors and hedge funds own 50.58% of the company’s stock.

TELUS stock opened at $34.22 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.85 and a quick ratio of 0.78. TELUS Co. has a 52-week low of $33.64 and a 52-week high of $38.50. The firm has a market cap of $20.42 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 1.98 and a beta of 0.80.



TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, August 3rd. The Wireless communications provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. The firm had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.45 billion. TELUS had a return on equity of 17.45% and a net margin of 10.61%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 earnings per share. Equities analysts anticipate that TELUS Co. will post 2.15 EPS for the current fiscal year.

TU has been the subject of several recent analyst reports. Desjardins reiterated a “buy” rating on shares of TELUS in a research note on Sunday, October 21st. Scotiabank lowered TELUS from an “outperform” rating to a “sector perform” rating in a research note on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $46.80.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and security and cloud-based services; healthcare solutions; business process outsourcing; and security solutions.

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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