Stifel Financial Corp Sells 50,068 Shares of TELUS Co. (NYSE:TU)

Stifel Financial Corp cut its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 38.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 79,262 shares of the Wireless communications provider’s stock after selling 50,068 shares during the period. Stifel Financial Corp’s holdings in TELUS were worth $1,330,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Fairscale Capital LLC acquired a new position in shares of TELUS during the second quarter worth $27,000. Blue Trust Inc. raised its position in TELUS by 60.4% in the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock valued at $41,000 after purchasing an additional 954 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in shares of TELUS during the second quarter valued at about $123,000. Trust Co. of Vermont grew its holdings in shares of TELUS by 19.0% during the third quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock worth $128,000 after purchasing an additional 1,218 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in shares of TELUS during the second quarter worth about $163,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TU. Scotiabank upgraded shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. Morgan Stanley initiated coverage on shares of TELUS in a research note on Monday, December 16th. They issued an “equal weight” rating on the stock. National Bank Financial downgraded TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, December 13th. Finally, StockNews.com lowered TELUS from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, TELUS has an average rating of “Hold” and an average price target of $26.00.

TELUS Trading Up 0.8 %

TU opened at $13.86 on Friday. The stock has a market cap of $20.79 billion, a PE ratio of 29.49, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 1.50. TELUS Co. has a twelve month low of $13.60 and a twelve month high of $18.55. The company has a fifty day moving average of $15.49 and a 200-day moving average of $15.88.

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

TELUS Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Wednesday, December 11th. This is a positive change from TELUS’s previous quarterly dividend of $0.28. This represents a $1.19 annualized dividend and a yield of 8.57%. TELUS’s payout ratio is 253.19%.

TELUS Company Profile

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.