Heathbridge Capital Management Ltd. Reduces Position in TELUS Corporation (NYSE:TU)

Heathbridge Capital Management Ltd. cut its holdings in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 784,500 shares of the Wireless communications provider's stock after selling 16,100 shares during the quarter. TELUS makes up approximately 4.6% of Heathbridge Capital Management Ltd.'s portfolio, making the stock its 8th largest holding. Heathbridge Capital Management Ltd. owned 0.05% of TELUS worth $11,263,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mackenzie Financial Corp boosted its position in shares of TELUS by 22.6% during the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock valued at $667,840,000 after buying an additional 9,068,181 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of TELUS by 28.3% during the 4th quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider's stock valued at $409,662,000 after acquiring an additional 6,659,564 shares during the period. Vanguard Group Inc. increased its stake in shares of TELUS by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider's stock worth $349,841,000 after purchasing an additional 903,921 shares in the last quarter. Invesco Ltd. lifted its position in shares of TELUS by 3.1% in the fourth quarter. Invesco Ltd. now owns 10,993,662 shares of the Wireless communications provider's stock valued at $149,074,000 after acquiring an additional 326,531 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of TELUS by 4.8% in the fourth quarter. Toronto Dominion Bank now owns 10,344,369 shares of the Wireless communications provider's stock worth $140,086,000 after buying an additional 475,625 shares in the last quarter. Institutional investors own 49.40% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Bank of America cut shares of TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. Scotiabank reissued an "outperform" rating on shares of TELUS in a research report on Tuesday. National Bankshares reissued a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Finally, Canaccord Genuity Group upped 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. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, TELUS has an average rating of "Hold" and an average target price of $21.50.

TELUS Price Performance

Shares of NYSE TU traded down $0.10 during trading on Thursday, reaching $16.38. The company had a trading volume of 1,324,835 shares, compared to its average volume of 3,027,009. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.49. The stock has a market capitalization of $24.97 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 4.96 and a beta of 0.73. TELUS Corporation has a twelve month low of $13.24 and a twelve month high of $17.27. The stock has a 50-day moving average price of $16.12 and a two-hundred day moving average price of $15.15.

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 dividend of $0.2989 per share. This is an increase from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 7.30%. The ex-dividend date of this dividend was Tuesday, June 10th. 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.