Saturna Capital CORP Sells 20,600 Shares of TELUS Co. (NYSE:TU)

Saturna Capital CORP lessened its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 18.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 94,000 shares of the Wireless communications provider’s stock after selling 20,600 shares during the period. Saturna Capital CORP’s holdings in TELUS were worth $2,108,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. grew its holdings in TELUS by 61.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 339,597 shares of the Wireless communications provider’s stock worth $12,578,000 after purchasing an additional 128,989 shares during the period. US Bancorp DE grew its holdings in TELUS by 15.7% in the first quarter. US Bancorp DE now owns 6,643 shares of the Wireless communications provider’s stock worth $132,000 after purchasing an additional 902 shares during the period. Commonwealth Equity Services LLC grew its holdings in TELUS by 1.5% in the first quarter. Commonwealth Equity Services LLC now owns 104,120 shares of the Wireless communications provider’s stock worth $2,075,000 after purchasing an additional 1,547 shares during the period. Envestnet Asset Management Inc. grew its holdings in TELUS by 78.7% in the first quarter. Envestnet Asset Management Inc. now owns 263,385 shares of the Wireless communications provider’s stock worth $5,249,000 after purchasing an additional 115,957 shares during the period. Finally, Swiss National Bank grew its holdings in TELUS by 1.0% in the first quarter. Swiss National Bank now owns 1,887,800 shares of the Wireless communications provider’s stock worth $37,583,000 after purchasing an additional 19,500 shares during the period. 48.90% of the stock is owned by institutional investors and hedge funds.

TU stock traded up $0.22 during mid-day trading on Tuesday, hitting $22.50. The company had a trading volume of 14,606 shares, compared to its average volume of 1,239,361. The firm has a market cap of $30.49 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 3.32 and a beta of 0.67. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.88 and a current ratio of 0.94. TELUS Co. has a 12 month low of $16.87 and a 12 month high of $23.67. The stock’s fifty day moving average price is $22.62 and its two-hundred day moving average price is $21.93.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Thursday, July 29th. The Wireless communications provider reported $0.26 EPS for the quarter, topping the consensus estimate of $0.21 by $0.05. The business had revenue of $4.11 billion for the quarter, compared to analyst estimates of $4.07 billion. TELUS had a net margin of 7.63% and a return on equity of 9.58%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.25 earnings per share. Equities analysts anticipate that TELUS Co. will post 0.86 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 10th will be given a $0.254 dividend. This represents a $1.02 annualized dividend and a yield of 4.52%. The ex-dividend date of this dividend is Thursday, September 9th. TELUS’s dividend payout ratio is 126.58%.

TU has been the subject of a number of research reports. TD Securities raised their price target on shares of TELUS from C$31.00 to C$33.00 and gave the stock a “buy” rating in a report on Monday, August 23rd. Morgan Stanley cut shares of TELUS from an “overweight” rating to an “equal weight” rating and set a $29.00 price objective for the company. in a report on Friday, July 16th. Zacks Investment Research upgraded shares of TELUS from a “sell” rating to a “hold” rating and set a $25.00 price objective for the company in a report on Monday, August 2nd. Desjardins lifted their price objective on shares of TELUS from C$29.25 to C$30.00 and gave the company a “buy” rating in a report on Wednesday, August 4th. Finally, CIBC reduced their price objective on shares of TELUS from C$30.00 to C$29.00 and set an “outperform” rating for the company in a report on Tuesday, August 3rd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, TELUS currently has a consensus rating of “Buy” and a consensus price target of $29.45.

TELUS Company Profile

TELUS Corp. is a telecommunications company. The company specializes in telecommunication services and products primarily for wireless and wireline voice and data. It operates through the following segments: Wireless and Wireline. The Wireless segment refers to the data and voice products for mobile technologies.

Further Reading: Euro STOXX 50 Index

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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