Dorchester Wealth Management Co Lowers stake in TELUS Corporation (USA) (TU)

TELUS Corporation (USA) (TU) : Dorchester Wealth Management Co reduced its stake in TELUS Corporation (USA) by 2.2% during the most recent quarter end. The investment management company now holds a total of 153,588 shares of TELUS Corporation (USA) which is valued at $4,993,146 after selling 3,450 shares in TELUS Corporation (USA) , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.TELUS Corporation (USA) makes up approximately 1.88% of Dorchester Wealth Management Co’s portfolio.

Other Hedge Funds, Including , Beutel Goodman Co Ltd. reduced its stake in TU by selling 155,000 shares or 1.3% in the most recent quarter. The Hedge Fund company now holds 11,777,227 shares of TU which is valued at $376,753,492. TELUS Corporation (USA) makes up approx 3.62% of Beutel Goodman Co Ltd.’s portfolio.Hexavest boosted its stake in TU in the latest quarter, The investment management firm added 169,397 additional shares and now holds a total of 449,685 shares of TELUS Corporation (USA) which is valued at $14,385,423. TELUS Corporation (USA) makes up approx 0.26% of Hexavest’s portfolio.Cardinal Capital Management boosted its stake in TU in the latest quarter, The investment management firm added 550 additional shares and now holds a total of 1,404,543 shares of TELUS Corporation (USA) which is valued at $45,591,466. TELUS Corporation (USA) makes up approx 5.17% of Cardinal Capital Management’s portfolio. Eqis Capital Management sold out all of its stake in TU during the most recent quarter. The investment firm sold 6,412 shares of TU which is valued $208,134.

TELUS Corporation (USA) opened for trading at $32.59 and hit $32.74 on the upside on Friday, eventually ending the session at $32.51, with a gain of 0.03% or 0.01 points. The heightened volatility saw the trading volume jump to 1,72,644 shares. Company has a market cap of $19,246 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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