TELUS Corporation $TU Holdings Decreased by APG Asset Management N.V.

Key Points

• APG Asset Management N.V. reduced its holdings in TELUS Corporation by 9.1%, now owning approximately 717,819 shares valued at $9.53 million.
• TELUS reported earnings of $0.16 per share for the most recent quarter, missing analyst estimates by $0.01, but revenue increased by 2.2% year-over-year.
• The company has announced a quarterly dividend of $0.3019 per share, reflecting a dividend yield of 7.3%.

APG Asset Management N.V. trimmed its stake in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 717,819 shares of the Wireless communications provider's stock after selling 71,722 shares during the quarter. APG Asset Management N.V.'s holdings in TELUS were worth $9,530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. D.A. Davidson & CO. acquired a new stake in shares of TELUS in the 1st quarter valued at about $206,000. Ameriprise Financial Inc. increased its holdings in TELUS by 25.6% in the fourth quarter. Ameriprise Financial Inc. now owns 528,246 shares of the Wireless communications provider's stock valued at $7,249,000 after buying an additional 107,806 shares during the last quarter. Northern Trust Corp raised its stake in TELUS by 41.9% during the fourth quarter. Northern Trust Corp now owns 779,525 shares of the Wireless communications provider's stock valued at $10,570,000 after buying an additional 230,234 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in TELUS by 39.7% during the 1st quarter. Bank of New York Mellon Corp now owns 651,054 shares of the Wireless communications provider's stock worth $9,336,000 after buying an additional 185,020 shares during the last quarter. Finally, Legal & General Group Plc acquired a new position in shares of TELUS in the 4th quarter worth approximately $190,000. Institutional investors own 49.40% of the company's stock.

TELUS Stock Performance

Shares of TELUS stock traded up $0.07 during trading on Friday, hitting $16.51. 2,678,941 shares of the stock were exchanged, compared to its average volume of 2,945,915. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.81 and a current ratio of 0.86. TELUS Corporation has a 12 month low of $13.24 and a 12 month high of $17.26. The stock's fifty day moving average is $16.27 and its 200 day moving average is $15.64. The stock has a market cap of $25.17 billion, a PE ratio of 35.88, a P/E/G ratio of 4.85 and a beta of 0.73.

TELUS (NYSE:TU - Get Free Report) TSE: T last issued its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the prior year, the business earned $0.25 earnings per share. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a dividend of $0.3019 per share. This is a boost from TELUS's previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Wednesday, September 10th. TELUS's payout ratio is presently 263.04%.

Wall Street Analyst Weigh In

TU has been the topic of several research reports. Scotiabank reissued an "outperform" rating on shares of TELUS in a research report on Tuesday, July 15th. Canaccord Genuity Group increased their target price on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a report on Monday, May 12th. Finally, National Bankshares restated a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $21.50.

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.