Canada Pension Plan Investment Board Sells 182,430 Shares of TELUS Corporation $TU

Key Points

• The Canada Pension Plan Investment Board has reduced its stake in TELUS Corporation by 40.5%, holding a total of 267,692 shares worth $3.84 million after selling 182,430 shares in the first quarter.
• TELUS reported a missed earnings estimate with earnings per share of $0.16, falling short of the consensus estimate of $0.17, despite a revenue increase of 2.2% year-over-year.
• The company has increased its quarterly dividend to $0.3019, representing a yield of 7.3%, with a payout ratio of 260.87%.

Canada Pension Plan Investment Board cut its position in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 40.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 267,692 shares of the Wireless communications provider's stock after selling 182,430 shares during the quarter. Canada Pension Plan Investment Board's holdings in TELUS were worth $3,840,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in TU. Farther Finance Advisors LLC boosted its stake in TELUS by 71.9% in the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock valued at $33,000 after acquiring an additional 971 shares during the last quarter. NBC Securities Inc. increased its position in shares of TELUS by 112,425.0% during the 1st quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock valued at $64,000 after purchasing an additional 4,497 shares during the last quarter. Trust Co. of Vermont grew its position in shares of TELUS by 10.5% in the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock worth $121,000 after buying an additional 800 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in TELUS during the first quarter valued at approximately $134,000. Finally, TD Private Client Wealth LLC raised its holdings in shares of TELUS by 175.4% during the 1st quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider's stock worth $149,000 after acquiring an additional 6,624 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Trading Down 0.8%

Shares of NYSE TU traded down $0.14 during trading on Monday, reaching $16.44. The stock had a trading volume of 2,239,130 shares, compared to its average volume of 3,347,011. The business's 50-day moving average price is $16.32 and its 200-day moving average price is $15.68. The company has a market cap of $25.23 billion, a P/E ratio of 35.68, a PEG ratio of 4.87 and a beta of 0.72. 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 fifty-two week low of $13.24 and a fifty-two week high of $17.26.

TELUS (NYSE:TU - Get Free Report) TSE: T last issued its quarterly earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). TELUS had a return on equity of 9.10% and a net margin of 4.67%.The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the business posted $0.25 EPS. The business's revenue for the quarter was up 2.2% on a year-over-year basis. On average, equities research analysts predict that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The business 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 represents a $1.21 dividend on an annualized basis and a dividend yield of 7.3%. This is a positive change from TELUS's previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, September 10th. TELUS's dividend payout ratio is 263.04%.

Wall Street Analyst Weigh In

Several analysts have recently commented on TU shares. Scotiabank reaffirmed an "outperform" rating on shares of TELUS in a research report on Tuesday, July 15th. National Bankshares reiterated a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Finally, Canaccord Genuity Group lifted their price target on shares of TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target 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.