Cardinal Capital Management Inc. Sells 335,321 Shares of TELUS Corporation $TU

Key Points

• Cardinal Capital Management trimmed its TELUS position by 95.6% in Q4, selling 335,321 shares and leaving 15,435 shares worth $203,000.
• TELUS paid a quarterly dividend of $0.4184 (annualized $1.67), implying a 14.2% yield, but its dividend payout ratio is an elevated 236.54%, which may raise sustainability concerns.
• Analyst sentiment is mixed—four Buys, five Holds and one Sell—with an average rating of "Hold" and an average price target of $17.63; Bank of America recently upgraded TELUS to Buy and raised its target to $16.00.

Cardinal Capital Management Inc. trimmed its position in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 95.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 15,435 shares of the Wireless communications provider's stock after selling 335,321 shares during the period. Cardinal Capital Management Inc.'s holdings in TELUS were worth $203,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. TD Asset Management Inc lifted its stake in shares of TELUS by 1.5% in the 3rd quarter. TD Asset Management Inc now owns 36,863,219 shares of the Wireless communications provider's stock valued at $580,740,000 after purchasing an additional 550,574 shares during the period. Vanguard Group Inc. lifted its stake in shares of TELUS by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 28,553,587 shares of the Wireless communications provider's stock valued at $449,748,000 after purchasing an additional 1,255,029 shares during the period. Scotia Capital Inc. lifted its stake in shares of TELUS by 4.5% in the 3rd quarter. Scotia Capital Inc. now owns 19,687,766 shares of the Wireless communications provider's stock valued at $310,129,000 after purchasing an additional 845,682 shares during the period. CIBC Asset Management Inc lifted its stake in shares of TELUS by 9.1% in the 3rd quarter. CIBC Asset Management Inc now owns 18,764,954 shares of the Wireless communications provider's stock valued at $295,645,000 after purchasing an additional 1,566,983 shares during the period. Finally, Fiera Capital Corp lifted its stake in shares of TELUS by 10.7% in the 3rd quarter. Fiera Capital Corp now owns 17,867,796 shares of the Wireless communications provider's stock valued at $281,326,000 after purchasing an additional 1,725,982 shares during the period. Institutional investors and hedge funds own 49.40% of the company's stock.

Analysts Set New Price Targets

TU has been the topic of a number of analyst reports. Scotiabank reissued an "outperform" rating on shares of TELUS in a research note on Tuesday, February 17th. Wall Street Zen downgraded TELUS from a "hold" rating to a "sell" rating in a research note on Saturday, February 21st. Canaccord Genuity Group downgraded TELUS from a "buy" rating to a "hold" rating in a research note on Thursday. Weiss Ratings reissued a "hold (c-)" rating on shares of TELUS in a research note on Friday, March 27th. Finally, Bank of America raised TELUS from a "neutral" rating to a "buy" rating and increased their price target for the company from $14.50 to $16.00 in a research note on Tuesday, March 10th. Four investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $17.63.

TELUS Stock Performance

Shares of TELUS stock opened at $11.78 on Friday. The company has a market capitalization of $18.24 billion, a PE ratio of 22.65, a PEG ratio of 1.89 and a beta of 0.68. TELUS Corporation has a 12 month low of $11.75 and a 12 month high of $16.74. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.65. The stock's fifty day simple moving average is $13.43 and its 200 day simple moving average is $13.83.

TELUS (NYSE:TU - Get Free Report) TSE: T last issued its quarterly earnings data on Thursday, February 12th. The Wireless communications provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.85 billion. TELUS had a return on equity of 8.42% and a net margin of 5.42%.During the same period in the previous year, the business posted $0.25 EPS. On average, research analysts predict that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Investors of record on Wednesday, March 11th were paid a dividend of $0.4184 per share. This represents a $1.67 annualized dividend and a yield of 14.2%. The ex-dividend date of this dividend was Wednesday, March 11th. TELUS's dividend payout ratio (DPR) is presently 236.54%.

About TELUS

TELUS Corporation NYSE: TU is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.

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