TELUS Corporation (NYSE:TU) Shares Sold by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. reduced its stake in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 9.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,500 shares of the Wireless communications provider's stock after selling 18,800 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in TELUS were worth $2,459,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC increased its holdings 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 buying an additional 971 shares during the last quarter. NBC Securities Inc. increased its holdings in TELUS by 112,425.0% in the first quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock valued at $64,000 after buying an additional 4,497 shares during the last quarter. Optiver Holding B.V. purchased a new position in TELUS in the fourth quarter valued at $120,000. Blueshift Asset Management LLC purchased a new position in TELUS in the fourth quarter valued at $142,000. Finally, Legal & General Group Plc purchased a new position in TELUS in the fourth quarter valued at $190,000. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Stock Performance

Shares of NYSE TU traded down $0.04 during midday trading on Friday, reaching $15.99. 3,588,680 shares of the company were exchanged, compared to its average volume of 2,943,944. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.49. TELUS Corporation has a 1 year low of $13.24 and a 1 year high of $17.27. The stock has a fifty day simple moving average of $15.68 and a 200 day simple moving average of $14.93. The stock has a market cap of $24.38 billion, a P/E ratio of 28.04, a PEG ratio of 5.04 and a beta of 0.74.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be issued a dividend of $0.2989 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.48%. This is a positive change from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio (DPR) is currently 212.28%.

Wall Street Analysts Forecast Growth

TU has been the topic of several research reports. Canaccord Genuity Group raised 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. National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Bank of America lowered TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Finally, Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently 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.