TELUS Co. (NYSE:TU) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd lowered its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 27.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 226,859 shares of the Wireless communications provider's stock after selling 86,070 shares during the period. USS Investment Management Ltd's holdings in TELUS were worth $3,071,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Barclays PLC raised its stake in shares of TELUS by 38.5% during the 3rd quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider's stock valued at $7,839,000 after buying an additional 129,934 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of TELUS by 25.6% during the 4th quarter. Ameriprise Financial Inc. now owns 528,246 shares of the Wireless communications provider's stock valued at $7,249,000 after buying an additional 107,806 shares during the last quarter. American Century Companies Inc. increased its stake in shares of TELUS by 4.6% in the 4th quarter. American Century Companies Inc. now owns 119,665 shares of the Wireless communications provider's stock valued at $1,623,000 after purchasing an additional 5,286 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its stake in shares of TELUS by 6.9% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,017,200 shares of the Wireless communications provider's stock valued at $13,785,000 after purchasing an additional 65,940 shares in the last quarter. Finally, Northern Trust Corp increased its stake in shares of TELUS by 41.9% in the 4th quarter. Northern Trust Corp now owns 779,525 shares of the Wireless communications provider's stock valued at $10,570,000 after purchasing an additional 230,234 shares in the last quarter. Hedge funds and other institutional investors own 49.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. National Bankshares restated a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Wall Street Zen upgraded TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Bank of America lowered TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, Canaccord Genuity Group lifted their price target on TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research note on Monday, May 12th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $21.50.

TELUS Price Performance

NYSE:TU traded down $0.07 during trading hours on Tuesday, hitting $16.06. 3,257,546 shares of the stock were exchanged, compared to its average volume of 2,921,962. TELUS Co. has a 52-week low of $13.24 and a 52-week high of $17.27. The firm's fifty day moving average price is $14.93 and its 200 day moving average price is $14.83. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. The company has a market cap of $24.31 billion, a P/E ratio of 32.78, a P/E/G ratio of 5.18 and a beta of 0.73.

TELUS Increases Dividend

The business 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. This is a boost from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 7.44%. The ex-dividend date of this dividend is Tuesday, June 10th. TELUS's payout ratio is currently 201.75%.

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.