Crossmark Global Holdings Inc. Cuts Holdings in TELUS Co. (NYSE:TU)

Crossmark Global Holdings Inc. cut its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 42.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,579 shares of the Wireless communications provider’s stock after selling 61,522 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in TELUS were worth $1,419,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fairscale Capital LLC acquired a new stake in TELUS in the second quarter valued at $27,000. Blue Trust Inc. increased its holdings in TELUS by 60.4% during the 2nd quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider’s stock valued at $41,000 after acquiring an additional 954 shares in the last quarter. UniSuper Management Pty Ltd acquired a new position in TELUS during the first quarter worth about $58,000. Acadian Asset Management LLC purchased a new stake in shares of TELUS in the second quarter valued at about $123,000. Finally, Trust Co. of Vermont grew its position in shares of TELUS by 19.0% in the third quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock valued at $128,000 after purchasing an additional 1,218 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on TU shares. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Scotiabank raised shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, October 28th. Finally, Canaccord Genuity Group cut shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.00.

TELUS Price Performance

Shares of NYSE TU opened at $15.58 on Thursday. The company has a market capitalization of $23.24 billion, a price-to-earnings ratio of 33.14, a PEG ratio of 2.12 and a beta of 0.75. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.61. TELUS Co. has a 1-year low of $14.63 and a 1-year high of $19.14. The business has a 50-day moving average of $16.31 and a 200-day moving average of $16.12.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $3.69 billion. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.19 earnings per share. On average, equities analysts anticipate that TELUS Co. will post 0.78 EPS for the current fiscal year.

TELUS Increases Dividend

The business 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 dividend of $0.297 per share. This represents a $1.19 dividend on an annualized basis and a yield of 7.63%. This is an increase from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. TELUS’s dividend payout ratio is 244.69%.

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.