World Asset Management Inc decreased its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 3.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,678 shares of the Wireless communications provider’s stock after selling 330 shares during the quarter. World Asset Management Inc’s holdings in TELUS were worth $320,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. purchased a new stake in TELUS during the 1st quarter worth about $54,000. Advisor Group Inc. increased its position in TELUS by 21.2% during the 4th quarter. Advisor Group Inc. now owns 3,997 shares of the Wireless communications provider’s stock valued at $132,000 after buying an additional 699 shares in the last quarter. Field & Main Bank bought a new position in TELUS during the 1st quarter valued at approximately $147,000. Sound View Wealth Advisors LLC bought a new position in TELUS during the 1st quarter valued at approximately $208,000. Finally, QCM Cayman Ltd. bought a new position in TELUS during the 1st quarter valued at approximately $227,000. 51.13% of the stock is owned by institutional investors and hedge funds.
A number of research firms have commented on TU. Citigroup lowered TELUS from a “buy” rating to a “neutral” rating in a report on Wednesday, July 3rd. Barclays reaffirmed a “buy” rating and issued a $41.00 price objective on shares of TELUS in a report on Sunday, May 12th. Zacks Investment Research raised TELUS from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Royal Bank of Canada reaffirmed a “buy” rating on shares of TELUS in a report on Tuesday, April 9th. Finally, Bank of America reiterated a “hold” rating on shares of TELUS in a research report on Friday, May 10th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. TELUS currently has a consensus rating of “Buy” and a consensus target price of $41.00.
TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). TELUS had a return on equity of 16.98% and a net margin of 11.15%. The business had revenue of $2.75 billion during the quarter, compared to analyst estimates of $2.69 billion. On average, research analysts anticipate that TELUS Co. will post 2.22 EPS for the current fiscal year.
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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