Guardian Partners Inc. Lowers Holdings in TELUS Corporation $TU

Key Points

• Guardian Partners Inc. has reduced its holdings in TELUS Corporation by 6.2%, now owning 831,475 shares, making TELUS the 29th largest position in their portfolio.
• TELUS reported earnings of $0.16 per share for the previous quarter, missing analysts' expectations of $0.17, although it achieved a revenue of $3.74 billion, above the anticipated $3.63 billion.
• The company announced a dividend increase to $0.3019 per share, reflecting a 7.3% yield, with the next payout scheduled for October 1st.

Guardian Partners Inc. lowered its position in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 831,475 shares of the Wireless communications provider's stock after selling 55,336 shares during the quarter. TELUS makes up about 1.2% of Guardian Partners Inc.'s holdings, making the stock its 29th biggest holding. Guardian Partners Inc. owned about 0.05% of TELUS worth $12,080,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its stake 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 acquiring an additional 971 shares during the last quarter. NBC Securities Inc. lifted its stake in TELUS by 112,425.0% in the first quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock worth $64,000 after acquiring an additional 4,497 shares during the last quarter. Trust Co. of Vermont lifted its stake 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 acquiring an additional 800 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in TELUS during the first quarter worth approximately $134,000. Finally, TD Private Client Wealth LLC raised its holdings in 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 worth $149,000 after purchasing an additional 6,624 shares in the last quarter. Hedge funds and other institutional investors own 49.40% of the company's stock.

TELUS Stock Performance

Shares of TELUS stock traded up $0.17 during trading on Thursday, reaching $16.00. The company's stock had a trading volume of 2,834,799 shares, compared to its average volume of 3,359,325. The company has a 50-day moving average price of $16.33 and a two-hundred day moving average price of $15.70. The firm has a market cap of $24.55 billion, a PE ratio of 34.77, a P/E/G ratio of 4.78 and a beta of 0.72. TELUS Corporation has a fifty-two week low of $13.24 and a fifty-two week high of $17.26. 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 (NYSE:TU - Get Free Report) TSE: T last announced its earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The business had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.63 billion. TELUS had a net margin of 4.67% and a return on equity of 9.10%. The business's revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 earnings per share. On average, analysts forecast that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be issued a $0.3019 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 7.5%. The ex-dividend date of this dividend is Wednesday, September 10th. This is a positive change from TELUS's previous quarterly dividend of $0.30. TELUS's dividend payout ratio is presently 263.04%.

Analyst Upgrades and Downgrades

Separately, Scotiabank reissued an "outperform" rating on shares of TELUS in a report on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, TELUS presently has an average rating of "Hold" and an average price target of $21.50.

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.