Lincluden Management Ltd. Has $27.86 Million Stock Holdings in TELUS Corporation (NYSE:TU)

Lincluden Management Ltd. lowered its stake in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 0.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,942,592 shares of the Wireless communications provider's stock after selling 17,138 shares during the quarter. TELUS comprises about 3.5% of Lincluden Management Ltd.'s holdings, making the stock its 10th largest position. Lincluden Management Ltd. owned 0.13% of TELUS worth $27,863,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of TU. JCIC Asset Management Inc. boosted its stake in shares of TELUS by 8.0% during the 1st quarter. JCIC Asset Management Inc. now owns 10,784 shares of the Wireless communications provider's stock valued at $155,000 after buying an additional 795 shares during the last quarter. Trust Co. of Vermont increased its position in TELUS by 10.5% in 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. Walter Public Investments Inc. increased its position in TELUS by 2.2% in the first quarter. Walter Public Investments Inc. now owns 37,819 shares of the Wireless communications provider's stock worth $542,000 after buying an additional 819 shares during the period. Farther Finance Advisors LLC increased its position 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 worth $33,000 after buying an additional 971 shares during the period. Finally, Beverly Hills Private Wealth LLC increased its holdings in shares of TELUS by 5.3% during the first quarter. Beverly Hills Private Wealth LLC now owns 22,627 shares of the Wireless communications provider's stock valued at $324,000 after purchasing an additional 1,135 shares during the period. Institutional investors and hedge funds own 49.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on TU shares. Canaccord Genuity Group lifted their target price on TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a report on Monday, May 12th. National Bankshares reiterated a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Finally, Scotiabank reissued an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $21.50.

TELUS Stock Performance

Shares of NYSE:TU traded down $0.05 during trading on Friday, hitting $16.47. 3,369,746 shares of the stock were exchanged, compared to its average volume of 2,960,167. The company's fifty day simple moving average is $16.23 and its 200-day simple moving average is $15.29. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.59 and a current ratio of 0.64. The company has a market capitalization of $25.12 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 5.01 and a beta of 0.73. TELUS Corporation has a 1-year low of $13.24 and a 1-year high of $17.26.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 10th were paid a $0.2989 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $1.20 dividend on an annualized basis and a yield of 7.26%. This is a positive change from TELUS's previous quarterly dividend of $0.28. TELUS's payout ratio is currently 212.28%.

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.