TELUS Corporation (NYSE:TU) Stake Reduced by Lincluden Management Ltd.

Lincluden Management Ltd. cut its holdings in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 0.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,942,592 shares of the Wireless communications provider's stock after selling 17,138 shares during the period. TELUS accounts for approximately 3.5% of Lincluden Management Ltd.'s portfolio, making the stock its 10th biggest holding. Lincluden Management Ltd. owned 0.13% of TELUS worth $27,863,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TU. Farther Finance Advisors LLC grew 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 purchasing an additional 971 shares during the last quarter. NBC Securities Inc. grew its stake 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 valued at $64,000 after purchasing an additional 4,497 shares during the last quarter. Trust Co. of Vermont grew its stake 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 valued at $121,000 after purchasing an additional 800 shares during the last quarter. Optiver Holding B.V. bought a new stake in shares of TELUS during the fourth quarter valued at approximately $120,000. Finally, TD Private Client Wealth LLC grew its stake in shares of TELUS by 175.4% during the first quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider's stock valued at $149,000 after purchasing an additional 6,624 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

Analyst Ratings Changes

TU has been the topic of several analyst reports. Scotiabank reiterated an "outperform" rating on shares of TELUS in a report on Tuesday, July 15th. Canaccord Genuity Group lifted their price objective on shares of TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research report on Monday, May 12th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a report 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's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $21.50.

TELUS Stock Performance

Shares of NYSE:TU traded down $0.16 during trading on Monday, hitting $16.31. The company's stock had a trading volume of 875,160 shares, compared to its average volume of 3,403,547. The company has a 50-day moving average of $16.23 and a 200-day moving average of $15.31. TELUS Corporation has a 12 month low of $13.24 and a 12 month high of $17.26. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.64 and a quick ratio of 0.59. The firm has a market cap of $24.87 billion, a price-to-earnings ratio of 28.62, a P/E/G ratio of 4.99 and a beta of 0.73.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th were issued a $0.2989 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. 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 7.33%. TELUS's dividend payout ratio (DPR) is 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.