M&T Bank Corp trimmed its holdings in TELUS Co. (NYSE:TU – Get Rating) (TSE:T) by 41.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,607 shares of the Wireless communications provider’s stock after selling 14,099 shares during the period. M&T Bank Corp’s holdings in TELUS were worth $347,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the business. National Bank of Canada FI lifted its position in shares of TELUS by 119.2% in the fourth quarter. National Bank of Canada FI now owns 18,117,787 shares of the Wireless communications provider’s stock worth $349,314,000 after buying an additional 9,850,903 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in TELUS during the fourth quarter worth approximately $45,382,000. Toronto Dominion Bank increased its stake in TELUS by 15.1% during the third quarter. Toronto Dominion Bank now owns 15,852,364 shares of the Wireless communications provider’s stock worth $356,395,000 after acquiring an additional 2,080,931 shares during the last quarter. Triasima Portfolio Management inc. bought a new stake in TELUS during the fourth quarter worth approximately $38,447,000. Finally, Alpine Associates Management Inc. bought a new stake in TELUS during the third quarter worth approximately $21,620,000. 51.42% of the stock is currently owned by hedge funds and other institutional investors.
TELUS Trading Up 0.5 %
TU opened at $19.18 on Monday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.75 and a quick ratio of 0.68. The company’s 50 day simple moving average is $20.46 and its two-hundred day simple moving average is $20.45. TELUS Co. has a 1-year low of $18.85 and a 1-year high of $25.50. The firm has a market capitalization of $27.62 billion, a price-to-earnings ratio of 24.28, a price-to-earnings-growth ratio of 2.75 and a beta of 0.75.
TELUS Increases Dividend
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on TU. Barclays reduced their price objective on TELUS from $23.00 to $21.00 in a research note on Monday, May 8th. National Bank Financial cut their target price on TELUS from C$31.00 to C$30.00 in a research note on Friday, February 10th. JPMorgan Chase & Co. cut their target price on TELUS from C$36.00 to C$33.00 in a research note on Monday, February 13th. StockNews.com started coverage on TELUS in a research note on Thursday, May 18th. They set a “sell” rating on the stock. Finally, TD Securities upped their target price on TELUS from C$31.00 to C$32.00 in a research note on Friday, May 5th.
About TELUS
TELUS Corp. is a telecommunications company, which engages in the provision of telecommunication services and products primarily for wireless and wireline voice and data. It operates through the following segments: TELUS Technology Solutions (TTech) and Digitally-led Customer ExperiencesTELUS International (DLCX).
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