Amundi Decreases Position in TELUS Corporation $TU

Amundi trimmed its stake in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,362,765 shares of the Wireless communications provider's stock after selling 33,597 shares during the quarter. Amundi owned approximately 0.09% of TELUS worth $19,815,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in TU. Mackenzie Financial Corp increased its stake in TELUS by 22.6% in the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock valued at $667,840,000 after purchasing an additional 9,068,181 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its stake in TELUS by 9.2% in the first quarter. Federation des caisses Desjardins du Quebec now owns 22,899,251 shares of the Wireless communications provider's stock valued at $328,588,000 after purchasing an additional 1,938,521 shares during the last quarter. Man Group plc increased its stake in TELUS by 68.2% in the fourth quarter. Man Group plc now owns 2,099,097 shares of the Wireless communications provider's stock valued at $28,463,000 after purchasing an additional 850,876 shares during the last quarter. Scotia Capital Inc. increased its stake in TELUS by 4.7% in the first quarter. Scotia Capital Inc. now owns 18,553,552 shares of the Wireless communications provider's stock valued at $266,146,000 after purchasing an additional 831,282 shares during the last quarter. Finally, Forge First Asset Management Inc. acquired a new position in TELUS in the first quarter valued at $8,937,000. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Trading Down 3.3%

TU stock traded down $0.54 during trading on Wednesday, reaching $15.84. 3,431,924 shares of the stock traded hands, compared to its average volume of 2,847,759. The business's 50 day moving average price is $16.33 and its 200-day moving average price is $15.69. TELUS Corporation has a 52-week low of $13.24 and a 52-week high of $17.26. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.86 and a quick ratio of 0.81. The firm has a market capitalization of $24.31 billion, a PE ratio of 34.42, a P/E/G ratio of 4.78 and a beta of 0.72.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). TELUS had a net margin of 4.67% and a return on equity of 9.10%. The firm had revenue of $3.74 billion for the quarter, compared to analysts' expectations of $3.63 billion. During the same period last year, the firm posted $0.25 EPS. TELUS's revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.3019 per share. This represents a $1.21 dividend on an annualized basis and a yield of 7.6%. This is a boost from TELUS's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, September 10th. TELUS's dividend payout ratio (DPR) is presently 263.04%.

Analyst Upgrades and Downgrades

Separately, Scotiabank reiterated an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $21.50.

TELUS 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.