Intact Investment Management Lowers stake in TELUS Corporation (USA) (TU)

TELUS Corporation (USA) (TU) : Intact Investment Management reduced its stake in TELUS Corporation (USA) by 0.75% during the most recent quarter end. The investment management company now holds a total of 2,326,100 shares of TELUS Corporation (USA) which is valued at $78,389,570 after selling 17,500 shares in TELUS Corporation (USA) , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.TELUS Corporation (USA) makes up approximately 3.68% of Intact Investment Management’s portfolio.

Other Hedge Funds, Including , Jane Street Group boosted its stake in TU in the latest quarter, The investment management firm added 30,234 additional shares and now holds a total of 37,729 shares of TELUS Corporation (USA) which is valued at $1,271,467. TELUS Corporation (USA) makes up approx 0.02% of Jane Street Group’s portfolio.Raymond James Associates boosted its stake in TU in the latest quarter, The investment management firm added 40,598 additional shares and now holds a total of 501,861 shares of TELUS Corporation (USA) which is valued at $16,912,716. TELUS Corporation (USA) makes up approx 0.05% of Raymond James Associates’s portfolio.Bb&t Securities reduced its stake in TU by selling 352 shares or 0.75% in the most recent quarter. The Hedge Fund company now holds 46,725 shares of TU which is valued at $1,542,860. TELUS Corporation (USA) makes up approx 0.02% of Bb&t Securities’s portfolio.Douglas Lane Associates reduced its stake in TU by selling 15,400 shares or 15.6% in the most recent quarter. The Hedge Fund company now holds 83,340 shares of TU which is valued at $2,772,722. TELUS Corporation (USA) makes up approx 0.08% of Douglas Lane Associates’s portfolio.

TELUS Corporation (USA) opened for trading at $32.73 and hit $33.42 on the upside on Thursday, eventually ending the session at $33.35, with a gain of 1.74% or 0.57 points. The heightened volatility saw the trading volume jump to 2,12,144 shares. Company has a market cap of $19,743 M.

On the company’s financial health, TELUS Corporation (USA) reported $0.70 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 5, 2016. Analyst had a consensus of $0.69. The company had revenue of $3148.00 million for the quarter, compared to analysts expectations of $3186.14 million. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.66 EPS.

Many Wall Street Analysts have commented on TELUS Corporation (USA). TELUS Corporation (USA) was Upgraded by Desjardins to ” Buy” on Aug 11, 2016.

TELUS Corporation (TELUS) is a telecommunications company. The Company operates through two business segments: wireless segment and wireline segment. The wireless segment includes 8.1 million wireless subscribers. The wireline segment includes 3.2 million wireline network access lines (NALs). The Company provides a range of telecommunications services and products including wireless and wireline voice and data; TELUS TV a high-definition entertainment service with Optik TV and TELUS Satellite TV (TELUS Satellite TV is offered only in British Columbia and Alberta); Internet Protocol networks and applications; contact center and business process outsourcing solutions; hosting managed IT and cloud-based services around Internet of Things; TELUS Health’s technology including pharmacy management electronic medical and health record remote patient monitoring and online settlement claims management solutions and conferencing and collaboration equipment and application solutions.

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