TELUS Co. (NYSE:TU) is Mackenzie Financial Corp's 10th Largest Position

Mackenzie Financial Corp lessened its position in TELUS Co. (NYSE:TU - Free Report) TSE: T by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,857,479 shares of the Wireless communications provider's stock after selling 2,804,406 shares during the quarter. TELUS makes up 1.5% of Mackenzie Financial Corp's investment portfolio, making the stock its 10th largest holding. Mackenzie Financial Corp owned approximately 3.91% of TELUS worth $1,012,307,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. VisionPoint Advisory Group LLC increased its position in shares of TELUS by 80.8% during the third quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider's stock worth $27,000 after acquiring an additional 739 shares during the period. Turtle Creek Wealth Advisors LLC acquired a new stake in TELUS in the 4th quarter valued at about $33,000. CVA Family Office LLC acquired a new stake in TELUS in the 4th quarter valued at about $49,000. Captrust Financial Advisors boosted its stake in shares of TELUS by 18.1% in the 2nd quarter. Captrust Financial Advisors now owns 4,669 shares of the Wireless communications provider's stock valued at $104,000 after buying an additional 717 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in shares of TELUS by 59.3% during the first quarter. PNC Financial Services Group Inc. now owns 5,666 shares of the Wireless communications provider's stock worth $148,000 after buying an additional 2,109 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Scotiabank reaffirmed a "sector perform" rating and issued a $26.00 target price (down previously from $28.00) on shares of TELUS in a report on Monday, March 25th. JPMorgan Chase & Co. cut shares of TELUS from an "overweight" rating to a "neutral" rating in a research report on Thursday, January 4th. BMO Capital Markets lowered their target price on shares of TELUS from $27.00 to $26.00 and set an "outperform" rating for the company in a research note on Monday, February 12th. Finally, StockNews.com cut TELUS from a "hold" rating to a "sell" rating in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, TELUS has a consensus rating of "Hold" and an average price target of $27.72.

TELUS Stock Down 0.5 %

NYSE:TU traded down $0.08 during midday trading on Monday, hitting $15.77. 2,935,957 shares of the company were exchanged, compared to its average volume of 2,497,859. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.35. TELUS Co. has a fifty-two week low of $15.47 and a fifty-two week high of $21.34. The company has a market capitalization of $23.27 billion, a PE ratio of 36.66, a price-to-earnings-growth ratio of 1.91 and a beta of 0.72. The company has a fifty day simple moving average of $16.88 and a 200 day simple moving average of $17.28.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its earnings results on Friday, February 9th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.24 billion. TELUS had a return on equity of 7.81% and a net margin of 4.18%. The business's quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.17 EPS. As a group, equities analysts anticipate that TELUS Co. will post 0.77 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a $0.2793 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 7.09%. This is a boost from TELUS's previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Friday, March 8th. TELUS's payout ratio is presently 258.14%.

TELUS Company 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.