Letko Brosseau & Associates Inc. Cuts Holdings in TELUS Corporation (NYSE:TU)

Letko Brosseau & Associates Inc. decreased its position in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,456,317 shares of the Wireless communications provider's stock after selling 75,400 shares during the quarter. TELUS accounts for approximately 2.0% of Letko Brosseau & Associates Inc.'s investment portfolio, making the stock its 18th largest holding. Letko Brosseau & Associates Inc. owned 0.43% of TELUS worth $92,589,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its stake 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 buying an additional 971 shares during the period. NBC Securities Inc. increased its position in shares of TELUS by 112,425.0% during the first quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock worth $64,000 after purchasing an additional 4,497 shares in the last quarter. Trust Co. of Vermont increased its position in shares of TELUS by 10.5% during the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock worth $121,000 after purchasing an additional 800 shares in the last quarter. Optiver Holding B.V. purchased a new stake in shares of TELUS during the fourth quarter worth approximately $120,000. Finally, TD Private Client Wealth LLC increased its position in shares of TELUS by 175.4% during the first quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider's stock worth $149,000 after purchasing an additional 6,624 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Trading Down 3.1%

Shares of TELUS stock traded down $0.50 during trading hours on Friday, hitting $15.60. The company's stock had a trading volume of 5,098,545 shares, compared to its average volume of 3,424,114. TELUS Corporation has a twelve month low of $13.24 and a twelve month high of $17.26. The firm has a fifty day moving average of $16.25 and a 200-day moving average of $15.35. The stock has a market cap of $23.79 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 4.91 and a beta of 0.73. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.59 and a current ratio of 0.64.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th were paid a dividend of $0.2989 per share. This represents a $1.20 annualized dividend and a yield of 7.7%. The ex-dividend date of this dividend was Tuesday, June 10th. This is a positive change from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio is currently 212.28%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TU. Scotiabank reiterated 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 report on Monday, May 12th. Finally, Canaccord Genuity Group boosted their price target on TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research report on Monday, May 12th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $21.50.

TELUS Company 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.