Gabelli Funds LLC Lowers Position in TELUS Co. (TU)

Gabelli Funds LLC decreased its position in TELUS Co. (NYSE:TU) (TSE:T) by 2.0% in the first quarter, HoldingsChannel.com reports. The firm owned 248,000 shares of the Wireless communications provider’s stock after selling 5,000 shares during the period. Gabelli Funds LLC’s holdings in TELUS were worth $9,186,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TU. Mawer Investment Management Ltd. boosted its holdings in shares of TELUS by 28.7% in the fourth quarter. Mawer Investment Management Ltd. now owns 8,928,454 shares of the Wireless communications provider’s stock valued at $297,828,000 after purchasing an additional 1,989,136 shares during the period. Norges Bank purchased a new stake in shares of TELUS in the fourth quarter valued at approximately $53,228,000. D. E. Shaw & Co. Inc. boosted its holdings in shares of TELUS by 116.7% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,704,421 shares of the Wireless communications provider’s stock valued at $56,556,000 after purchasing an additional 917,921 shares during the period. Nordea Investment Management AB boosted its holdings in shares of TELUS by 227.6% in the fourth quarter. Nordea Investment Management AB now owns 783,304 shares of the Wireless communications provider’s stock valued at $35,445,000 after purchasing an additional 544,204 shares during the period. Finally, Fiera Capital Corp boosted its holdings in shares of TELUS by 20.8% in the fourth quarter. Fiera Capital Corp now owns 3,106,458 shares of the Wireless communications provider’s stock valued at $103,176,000 after purchasing an additional 534,592 shares during the period. Hedge funds and other institutional investors own 50.62% of the company’s stock.

TELUS stock opened at $36.63 on Friday. The company has a quick ratio of 0.72, a current ratio of 0.79 and a debt-to-equity ratio of 1.28. The firm has a market cap of $21.75 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 2.07 and a beta of 0.83. TELUS Co. has a twelve month low of $32.46 and a twelve month high of $37.84.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, May 9th. The Wireless communications provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. The company had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.52 billion. TELUS had a return on equity of 17.02% and a net margin of 11.15%. TELUS’s revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share. Analysts anticipate that TELUS Co. will post 2.2 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 10th will be issued a dividend of $0.4191 per share. The ex-dividend date is Friday, June 7th. This represents a $1.68 dividend on an annualized basis and a yield of 4.58%. This is a positive change from TELUS’s previous quarterly dividend of $0.41. TELUS’s dividend payout ratio is currently 77.10%.

A number of brokerages recently issued reports on TU. Zacks Investment Research lowered TELUS from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. TheStreet upgraded TELUS from a “c+” rating to a “b-” rating in a report on Thursday, April 4th. Canaccord Genuity reiterated a “buy” rating on shares of TELUS in a report on Friday, February 15th. Echelon Wealth Partners reiterated a “buy” rating on shares of TELUS in a report on Friday, February 15th. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of TELUS in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $40.00.

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TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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