TELUS Co. (NYSE:TU) Shares Sold by Lincluden Management Ltd.

Lincluden Management Ltd. trimmed its position in TELUS Co. (NYSE:TU) (TSE:T) by 2.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,940,534 shares of the Wireless communications provider’s stock after selling 57,625 shares during the period. TELUS accounts for about 3.6% of Lincluden Management Ltd.’s portfolio, making the stock its 11th largest position. Lincluden Management Ltd.’s holdings in TELUS were worth $32,577,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board lifted its holdings in TELUS by 11.2% in the first quarter. Canada Pension Plan Investment Board now owns 1,252,092 shares of the Wireless communications provider’s stock valued at $20,050,000 after acquiring an additional 126,488 shares during the last quarter. Toronto Dominion Bank grew its holdings in shares of TELUS by 5.4% during the 2nd quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider’s stock worth $188,835,000 after purchasing an additional 636,845 shares during the period. Van ECK Associates Corp acquired a new stake in shares of TELUS during the 1st quarter worth about $1,991,000. Quantbot Technologies LP lifted its position in TELUS by 78.0% in the first quarter. Quantbot Technologies LP now owns 163,579 shares of the Wireless communications provider’s stock valued at $2,619,000 after buying an additional 71,655 shares during the last quarter. Finally, Cumberland Partners Ltd boosted its stake in TELUS by 130.4% during the first quarter. Cumberland Partners Ltd now owns 56,840 shares of the Wireless communications provider’s stock worth $910,000 after buying an additional 32,170 shares during the period. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on TU shares. Canaccord Genuity Group lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Scotiabank upgraded shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday. Finally, StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, TELUS currently has an average rating of “Hold” and a consensus price target of $26.00.

TELUS Stock Performance

Shares of TU opened at $15.81 on Friday. TELUS Co. has a 1 year low of $14.63 and a 1 year high of $19.14. The stock has a market capitalization of $23.59 billion, a P/E ratio of 39.53, a P/E/G ratio of 2.44 and a beta of 0.74. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.61 and a current ratio of 0.66. The company’s fifty day moving average is $16.41 and its two-hundred day moving average is $16.14.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.09. TELUS had a net margin of 3.87% and a return on equity of 8.50%. The firm had revenue of $3.64 billion during the quarter, compared to analysts’ expectations of $3.70 billion. During the same period in the prior year, the company posted $0.14 earnings per share. On average, sell-side analysts predict that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Profile

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.