K.J. Harrison & Partners Inc Sells 57,958 Shares of TELUS Corporation (NYSE:TU)

K.J. Harrison & Partners Inc lowered its holdings in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 38.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 90,950 shares of the Wireless communications provider's stock after selling 57,958 shares during the period. K.J. Harrison & Partners Inc's holdings in TELUS were worth $1,306,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TU. Farther Finance Advisors LLC raised its stake in shares of TELUS by 71.9% during the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock valued at $33,000 after acquiring an additional 971 shares during the last quarter. 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 buying an additional 4,497 shares during the period. Optiver Holding B.V. acquired a new stake in shares of TELUS during the fourth quarter worth $120,000. 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 buying an additional 800 shares during the period. Finally, Blueshift Asset Management LLC acquired a new stake in shares of TELUS during the fourth quarter worth $142,000. Institutional investors own 49.40% of the company's stock.

TELUS Stock Down 0.7%

Shares of NYSE TU traded down $0.12 during mid-day trading on Friday, reaching $15.82. 3,554,926 shares of the company's stock traded hands, compared to its average volume of 2,970,330. The stock has a market cap of $24.13 billion, a P/E ratio of 27.76, a PEG ratio of 4.99 and a beta of 0.74. The business has a 50-day simple moving average of $15.80 and a 200 day simple moving average of $14.94. TELUS Corporation has a 1-year low of $13.24 and a 1-year high of $17.27. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.64 and a quick ratio of 0.59.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be given a dividend of $0.2989 per share. This is a positive change from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.56%. The ex-dividend date of this dividend is Tuesday, June 10th. TELUS's dividend payout ratio (DPR) is presently 212.28%.

Analyst Upgrades and Downgrades

TU has been the subject of several recent analyst reports. Bank of America cut shares of TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. National Bankshares reiterated a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. Canaccord Genuity Group increased their price objective on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research report on Monday, May 12th. Finally, Cormark cut shares of TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average 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.