Letko Brosseau & Associates Inc. Has $305.67 Million Holdings in TELUS Co. (NYSE:TU)

Letko Brosseau & Associates Inc. reduced its position in TELUS Co. (NYSE:TU) (TSE:T) by 5.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,251,091 shares of the Wireless communications provider’s stock after selling 429,907 shares during the period. TELUS comprises about 3.1% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 11th largest position. Letko Brosseau & Associates Inc. owned approximately 1.37% of TELUS worth $305,671,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. TD Asset Management Inc. increased its position in TELUS by 2.3% in the 2nd quarter. TD Asset Management Inc. now owns 24,307,989 shares of the Wireless communications provider’s stock worth $900,511,000 after purchasing an additional 536,599 shares during the last quarter. CIBC Asset Management Inc increased its position in TELUS by 11.7% in the 1st quarter. CIBC Asset Management Inc now owns 13,108,240 shares of the Wireless communications provider’s stock worth $485,148,000 after purchasing an additional 1,377,720 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in TELUS by 6.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 10,657,609 shares of the Wireless communications provider’s stock worth $394,758,000 after purchasing an additional 601,686 shares during the last quarter. Mawer Investment Management Ltd. increased its position in TELUS by 2.7% in the 1st quarter. Mawer Investment Management Ltd. now owns 9,170,726 shares of the Wireless communications provider’s stock worth $339,511,000 after purchasing an additional 242,272 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its position in TELUS by 1.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 6,557,160 shares of the Wireless communications provider’s stock worth $241,921,000 after purchasing an additional 106,373 shares during the last quarter. 51.41% of the stock is currently owned by institutional investors.

Several research analysts have weighed in on the company. Canaccord Genuity lowered TELUS from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd. Bank of America reaffirmed a “hold” rating on shares of TELUS in a research report on Friday, May 10th. Zacks Investment Research upgraded TELUS from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Citigroup downgraded TELUS from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 3rd. Finally, Barclays reiterated a “buy” rating and set a $41.00 price target on shares of TELUS in a research note on Sunday, May 12th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. TELUS currently has a consensus rating of “Buy” and a consensus price target of $41.00.



Shares of TU traded up $0.24 during trading hours on Thursday, hitting $35.92. 19,692 shares of the company were exchanged, compared to its average volume of 375,768. The company has a market capitalization of $21.44 billion, a P/E ratio of 16.75, a PEG ratio of 2.01 and a beta of 0.71. The company’s 50 day simple moving average is $36.64. TELUS Co. has a 52 week low of $32.46 and a 52 week high of $38.32. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.66 and a current ratio of 0.71.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). The company had revenue of $2.75 billion for the quarter, compared to the consensus estimate of $2.69 billion. TELUS had a return on equity of 16.75% and a net margin of 11.91%. On average, equities analysts expect that TELUS Co. will post 2.23 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.426 per share. This represents a $1.70 annualized dividend and a dividend yield of 4.74%. The ex-dividend date is Monday, September 9th. This is an increase from TELUS’s previous quarterly dividend of $0.42. TELUS’s dividend payout ratio is 78.04%.

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 cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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