Twin Tree Management LP Sells 57,996 Shares of TELUS Corporation $TU

Key Points

• Twin Tree Management LP has reduced its stake in TELUS Corporation by 41.5%, selling 57,996 shares and now holding 81,804 shares valued at $1,314,000.
• In the second quarter, several institutional investors increased their positions in TELUS, with CWM LLC raising its stake by 169.6% during the same period.
• TELUS recently increased its quarterly dividend to $0.3019 per share, resulting in an annualized yield of 8.0%, despite a high dividend payout ratio of 263.04%.

Twin Tree Management LP decreased its stake in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 41.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 81,804 shares of the Wireless communications provider's stock after selling 57,996 shares during the period. Twin Tree Management LP's holdings in TELUS were worth $1,314,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in shares of TELUS by 71.9% during the 1st 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 in the last quarter. Blue Trust Inc. lifted its position in TELUS by 26.1% during the 2nd quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider's stock valued at $52,000 after acquiring an additional 667 shares during the period. CWM LLC lifted its position in TELUS by 169.6% during the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider's stock valued at $59,000 after acquiring an additional 2,301 shares during the period. Trust Co. of Vermont lifted 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 valued at $121,000 after acquiring an additional 800 shares during the period. Finally, Caitong International Asset Management Co. Ltd purchased a new position in TELUS during the 1st quarter valued at about $134,000. Institutional investors own 49.40% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TU. Scotiabank reissued an "outperform" rating on shares of TELUS in a research report on Tuesday, July 15th. Weiss Ratings reissued a "hold (c)" rating on shares of TELUS in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average price target of $21.50.

TELUS Stock Down 0.1%

NYSE:TU opened at $15.07 on Friday. The firm has a market cap of $23.13 billion, a P/E ratio of 32.76, a P/E/G ratio of 4.47 and a beta of 0.71. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.81 and a current ratio of 0.86. TELUS Corporation has a fifty-two week low of $13.24 and a fifty-two week high of $16.74. The firm has a 50-day simple moving average of $15.98 and a two-hundred day simple moving average of $15.80.

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

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th were paid a dividend of $0.3019 per share. The ex-dividend date was Wednesday, September 10th. This represents a $1.21 dividend on an annualized basis and a yield of 8.0%. This is an increase from TELUS's previous quarterly dividend of $0.30. TELUS's dividend payout ratio (DPR) is 263.04%.

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.

Want to see what other hedge funds are holding TU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TELUS Corporation (NYSE:TU - Free Report) TSE: T.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.