Scheer Rowlett Associates Investment Management Ltd. Lowers stake in TELUS Corporation (USA) (TU)

TELUS Corporation (USA) (TU) : Scheer Rowlett Associates Investment Management Ltd. reduced its stake in TELUS Corporation (USA) by 3.48% during the most recent quarter end. The investment management company now holds a total of 1,735,130 shares of TELUS Corporation (USA) which is valued at $58,473,881 after selling 62,480 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 3.30% of Scheer Rowlett Associates Investment Management Ltd.’s portfolio.

Other Hedge Funds, Including , Greystone Managed Investments reduced its stake in TU by selling 3,241,749 shares or 86.4% in the most recent quarter. The Hedge Fund company now holds 510,462 shares of TU which is valued at $16,875,874. TELUS Corporation (USA) makes up approx 0.66% of Greystone Managed Investments’s portfolio.Bnp Paribas Investment Partners S.a. boosted its stake in TU in the latest quarter, The investment management firm added 200,784 additional shares and now holds a total of 337,911 shares of TELUS Corporation (USA) which is valued at $11,434,908. TELUS Corporation (USA) makes up approx 0.10% of Bnp Paribas Investment Partners S.a.’s portfolio.Cidel Asset Management Inc boosted its stake in TU in the latest quarter, The investment management firm added 8,771 additional shares and now holds a total of 1,467,807 shares of TELUS Corporation (USA) which is valued at $48,173,426. TELUS Corporation (USA) makes up approx 2.72% of Cidel Asset Management Inc’s portfolio.

TELUS Corporation (USA) closed down -0.5067 points or -1.50% at $33.26 with 216,605 shares getting traded on Wednesday. Post opening the session at $33.75, the shares hit an intraday low of $33.2 and an intraday high of $33.8 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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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