Envestnet Asset Management Inc. Cuts Stock Holdings in TELUS Co. (NYSE:TU)

Envestnet Asset Management Inc. reduced its position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 15.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 398,602 shares of the Wireless communications provider's stock after selling 75,339 shares during the period. Envestnet Asset Management Inc.'s holdings in TELUS were worth $5,405,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of TELUS by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider's stock worth $349,841,000 after acquiring an additional 903,921 shares during the last quarter. Norges Bank acquired a new stake in TELUS during the 4th quarter valued at approximately $70,212,000. Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in TELUS by 5.2% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,403,521 shares of the Wireless communications provider's stock worth $46,088,000 after purchasing an additional 169,577 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of TELUS by 29.8% in the 4th quarter. Geode Capital Management LLC now owns 3,032,404 shares of the Wireless communications provider's stock worth $42,389,000 after purchasing an additional 696,744 shares during the period. Finally, Mufg Securities Canada LTD. boosted its stake in shares of TELUS by 68.9% in the 4th quarter. Mufg Securities Canada LTD. now owns 2,236,163 shares of the Wireless communications provider's stock valued at $30,299,000 after purchasing an additional 912,277 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TU shares. Bank of America downgraded TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, TELUS has an average rating of "Hold".

TELUS Stock Down 0.4 %

TU stock traded down $0.06 during trading on Friday, reaching $14.98. 1,952,791 shares of the stock were exchanged, compared to its average volume of 2,859,106. The firm has a market cap of $22.68 billion, a P/E ratio of 30.57, a price-to-earnings-growth ratio of 5.18 and a beta of 0.70. TELUS Co. has a twelve month low of $13.24 and a twelve month high of $17.27. The firm's 50 day moving average is $14.86 and its 200 day moving average is $14.90. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. TELUS had a net margin of 4.85% and a return on equity of 9.07%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the firm posted $0.10 EPS. As a group, research analysts forecast that TELUS Co. will post 0.71 EPS for the current year.

TELUS Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were paid a dividend of $0.2829 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a yield of 7.55%. TELUS's dividend payout ratio (DPR) is currently 226.53%.

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.