TELUS Corporation $TU Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its stake in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 51.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 360,212 shares of the Wireless communications provider's stock after acquiring an additional 122,274 shares during the period. Quantinno Capital Management LP's holdings in TELUS were worth $4,620,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Manchester Capital Management LLC lifted its holdings in shares of TELUS by 320.0% in the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider's stock valued at $30,000 after purchasing an additional 1,712 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of TELUS in the fourth quarter valued at approximately $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its position in shares of TELUS by 129.0% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider's stock worth $33,000 after acquiring an additional 1,393 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of TELUS during the fourth quarter worth approximately $55,000. Finally, State of Wyoming acquired a new position in shares of TELUS in the 2nd quarter valued at $61,000. Hedge funds and other institutional investors own 49.40% of the company's stock.

TELUS Trading Up 0.2%

Shares of TELUS stock opened at $9.81 on Friday. TELUS Corporation has a 12-month low of $9.20 and a 12-month high of $16.72. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.88. The stock has a market cap of $15.45 billion, a PE ratio of -23.94, a price-to-earnings-growth ratio of 9.62 and a beta of 0.64. The company has a 50-day moving average of $10.96 and a two-hundred day moving average of $12.34.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). The firm had revenue of $3.47 billion for the quarter, compared to analysts' expectations of $3.55 billion. TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%. On average, research analysts anticipate that TELUS Corporation will post 0.57 EPS for the current fiscal year.

TELUS Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be issued a dividend of $0.1875 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a $0.75 annualized dividend and a yield of 7.6%. TELUS's payout ratio is currently -295.12%.

Analyst Upgrades and Downgrades

TU has been the subject of a number of recent research reports. Royal Bank Of Canada cut shares of TELUS from an "outperform" rating to a "sector perform" rating in a research note on Tuesday. Bank of America reaffirmed an "underperform" rating on shares of TELUS in a report on Tuesday. Weiss Ratings lowered TELUS from a "sell (d+)" rating to a "sell (d)" rating in a report on Wednesday. Wall Street Zen cut TELUS from a "hold" rating to a "sell" rating in a research report on Saturday, August 1st. Finally, TD Cowen raised TELUS from a "hold" rating to a "buy" rating in a research report on Tuesday, April 28th. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of $15.33.

TELUS Company Profile

TELUS Corporation NYSE: TU is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.

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