Intact Investment Management Inc. Has $48.08 Million Holdings in TELUS Co. (NYSE:TU)

Intact Investment Management Inc. lessened its position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 35.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,701,602 shares of the Wireless communications provider's stock after selling 1,492,940 shares during the quarter. TELUS comprises about 1.9% of Intact Investment Management Inc.'s investment portfolio, making the stock its 12th largest position. Intact Investment Management Inc. owned approximately 0.18% of TELUS worth $48,078,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. raised its position in TELUS by 63.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 49,000 shares of the Wireless communications provider's stock valued at $801,000 after buying an additional 19,000 shares during the last quarter. Value Partners Investments Inc. raised its holdings in TELUS by 7.6% in the 3rd quarter. Value Partners Investments Inc. now owns 14,259 shares of the Wireless communications provider's stock valued at $234,000 after acquiring an additional 1,010 shares in the last quarter. CIBC Asset Management Inc raised its holdings in TELUS by 1.7% in the 3rd quarter. CIBC Asset Management Inc now owns 21,540,649 shares of the Wireless communications provider's stock valued at $352,841,000 after acquiring an additional 368,650 shares in the last quarter. Lorne Steinberg Wealth Management Inc. acquired a new position in TELUS in the 3rd quarter valued at $3,908,000. Finally, K.J. Harrison & Partners Inc raised its holdings in TELUS by 26.7% in the 3rd quarter. K.J. Harrison & Partners Inc now owns 275,460 shares of the Wireless communications provider's stock valued at $4,519,000 after acquiring an additional 58,000 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Stock Performance

NYSE TU traded down $0.03 on Friday, hitting $16.07. 1,544,884 shares of the stock traded hands, compared to its average volume of 2,561,999. The business's fifty day moving average is $16.61 and its two-hundred day moving average is $17.26. TELUS Co. has a 12 month low of $15.35 and a 12 month high of $21.28. The firm has a market capitalization of $23.72 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 1.96 and a beta of 0.72. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.62 and a current ratio of 0.67.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings results on Friday, February 9th. The Wireless communications provider reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.01. TELUS had a return on equity of 7.81% and a net margin of 4.18%. The firm had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.24 billion. During the same period last year, the company earned $0.17 earnings per share. The business's revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities analysts anticipate that TELUS Co. will post 0.76 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a $0.2793 dividend. The ex-dividend date was Friday, March 8th. This represents a $1.12 annualized dividend and a dividend yield of 6.95%. This is an increase from TELUS's previous quarterly dividend of $0.27. TELUS's payout ratio is currently 258.14%.

Wall Street Analyst Weigh In

TU has been the subject of a number of research analyst reports. Scotiabank reissued a "sector perform" rating and set a $26.00 price target (down previously from $28.00) on shares of TELUS in a report on Monday, March 25th. StockNews.com cut TELUS from a "hold" rating to a "sell" rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. cut TELUS from an "overweight" rating to a "neutral" rating in a report on Thursday, January 4th. Finally, BMO Capital Markets reduced their price objective on TELUS from $27.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $27.72.

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.