TELUS Corporation $TU Shares Sold by Groupama Asset Managment

Key Points

• Groupama Asset Management significantly reduced its holdings in TELUS Corporation by 83.8%, possessing only 10,848 shares after selling 56,118 shares during the first quarter, with a current value of $156,000.
• TELUS's stock has an average rating of "Hold" from analysts, with a consensus price target set at $21.50.
• The company declared a quarterly dividend increase to $0.3019 per share, reflecting a strong annual yield of 7.3%, with the payout ratio at 263.04%.

Groupama Asset Managment lowered its position in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 83.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,848 shares of the Wireless communications provider's stock after selling 56,118 shares during the period. Groupama Asset Managment's holdings in TELUS were worth $156,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TU. Farther Finance Advisors LLC grew its position in shares of TELUS by 71.9% in the 1st 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 last quarter. NBC Securities Inc. grew its position in TELUS by 112,425.0% during the 1st quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock worth $64,000 after purchasing an additional 4,497 shares during the last quarter. Optiver Holding B.V. purchased a new stake in TELUS during the 4th quarter worth approximately $120,000. Trust Co. of Vermont grew its position in TELUS by 10.5% during the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock worth $121,000 after purchasing an additional 800 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in TELUS during the 1st quarter worth approximately $134,000. Hedge funds and other institutional investors own 49.40% of the company's stock.

TELUS Stock Performance

NYSE TU traded up $0.0350 on Friday, hitting $16.5850. 2,990,996 shares of the company's stock traded hands, compared to its average volume of 2,966,003. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. TELUS Corporation has a 1-year low of $13.24 and a 1-year high of $17.26. The firm's 50-day moving average price is $16.23 and its two-hundred day moving average price is $15.57. The firm has a market capitalization of $25.29 billion, a PE ratio of 36.06, a P/E/G ratio of 4.88 and a beta of 0.73.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). TELUS had a net margin of 4.67% and a return on equity of 9.10%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The business's revenue was up 2.2% on a year-over-year basis. As a group, analysts expect that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.3019 per share. This represents a $1.21 annualized dividend and a yield of 7.3%. The ex-dividend date is Wednesday, September 10th. This is a positive change from TELUS's previous quarterly dividend of $0.30. TELUS's dividend payout ratio (DPR) is presently 263.04%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Scotiabank reissued an "outperform" rating on shares of TELUS in a research report on Tuesday, July 15th. National Bankshares reissued a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. Finally, Canaccord Genuity Group boosted their target price 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. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, TELUS currently has an average rating of "Hold" and a consensus price target of $21.50.

About TELUS

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.