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

Mn Services Vermogensbeheer B.V. reduced its holdings in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 9.9% in the first quarter, according to its most recent filing with the Securities & 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in TELUS by 71.9% during the 1st 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 in the last quarter. Maryland State Retirement & Pension System grew its position in TELUS by 1.6% during the 4th quarter. Maryland State Retirement & Pension System now owns 88,180 shares of the Wireless communications provider's stock worth $1,197,000 after purchasing an additional 1,346 shares during the last quarter. Hillsdale Investment Management Inc. increased its stake in TELUS by 7.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 21,733 shares of the Wireless communications provider's stock valued at $294,000 after purchasing an additional 1,500 shares in the last quarter. Beverly Hills Private Wealth LLC increased its stake in TELUS by 9.7% during the 4th quarter. Beverly Hills Private Wealth LLC now owns 21,492 shares of the Wireless communications provider's stock valued at $291,000 after purchasing an additional 1,901 shares in the last quarter. Finally, First Affirmative Financial Network increased its stake in TELUS by 8.6% during the 1st quarter. First Affirmative Financial Network now owns 41,070 shares of the Wireless communications provider's stock valued at $589,000 after purchasing an additional 3,244 shares in the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TU. Bank of America cut shares of TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Cormark lowered shares of TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. National Bankshares reissued a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Finally, Canaccord Genuity Group increased their target price on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research note on Monday, May 12th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $21.50.

TELUS Price Performance

Shares of NYSE:TU traded up $0.03 during midday trading on Friday, hitting $16.05. 1,027,313 shares of the stock were exchanged, compared to its average volume of 2,927,370. The stock has a market cap of $24.47 billion, a P/E ratio of 28.13, a PEG ratio of 5.05 and a beta of 0.74. 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 twelve month low of $13.24 and a twelve month high of $17.27. The company has a 50 day moving average price of $15.66 and a 200-day moving average price of $14.93.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.2989 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.45%. This is a boost from TELUS's previous quarterly dividend of $0.28. TELUS's payout ratio is presently 212.28%.

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.