Headlands Technologies LLC Sells 19,245 Shares of TELUS Corporation (NYSE:TU)

Key Points

• Headlands Technologies LLC has reduced its holdings in TELUS Corporation by 69.8%, selling 19,245 shares and leaving it with 8,325 shares valued at approximately $119,000.
• Several institutional investors have adjusted their positions in TELUS, with Geode Capital Management increasing its holdings by 29.8% to over 3 million shares.
• TELUS has announced a quarterly dividend increase to $0.3019 per share, resulting in an annualized yield of 7.5% due to a high dividend payout ratio of 263.04%.

Headlands Technologies LLC trimmed its stake in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 69.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,325 shares of the Wireless communications provider's stock after selling 19,245 shares during the quarter. Headlands Technologies LLC's holdings in TELUS were worth $119,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC raised its position in shares of TELUS by 71.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock worth $33,000 after purchasing an additional 971 shares during the period. NBC Securities Inc. increased its position in TELUS by 112,425.0% in the 1st quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock valued at $64,000 after acquiring an additional 4,497 shares during the period. Optiver Holding B.V. acquired a new stake in TELUS in the 4th quarter valued at approximately $120,000. Trust Co. of Vermont increased its position in TELUS by 10.5% in the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock valued at $121,000 after acquiring an additional 800 shares during the period. Finally, TD Private Client Wealth LLC increased its position in TELUS by 175.4% in the 1st quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider's stock valued at $149,000 after acquiring an additional 6,624 shares during the period. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Stock Performance

TU traded up $0.13 on Friday, hitting $16.39. 2,502,812 shares of the stock traded hands, compared to its average volume of 3,161,434. TELUS Corporation has a 52 week low of $13.24 and a 52 week high of $17.26. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $24.99 billion, a PE ratio of 35.63, a P/E/G ratio of 4.73 and a beta of 0.73. The business has a fifty day moving average price of $16.19 and a two-hundred day moving average price of $15.50.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. TELUS had a net margin of 4.67% and a return on equity of 9.10%. The company's revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. On average, research analysts predict that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a $0.3019 dividend. This represents a $1.21 annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend is Wednesday, September 10th. This is an increase from TELUS's previous quarterly dividend of $0.30. TELUS's dividend payout ratio (DPR) is presently 263.04%.

Wall Street Analysts Forecast Growth

TU has been the topic of several analyst reports. National Bankshares restated a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. Scotiabank reiterated an "outperform" rating on shares of TELUS in a report on Tuesday, July 15th. Finally, Canaccord Genuity Group increased their price objective on TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a report on Monday, May 12th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently 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.