Scotia Capital Lowers stake in TELUS Corporation (USA) (TU)

TELUS Corporation (USA) (TU) : Scotia Capital reduced its stake in TELUS Corporation (USA) by 3.91% during the most recent quarter end. The investment management company now holds a total of 2,181,837 shares of TELUS Corporation (USA) which is valued at $73,527,907 after selling 88,678 shares in TELUS Corporation (USA) , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.TELUS Corporation (USA) makes up approximately 1.60% of Scotia Capital’s portfolio.

Other Hedge Funds, Including , Comerica Bank reduced its stake in TU by selling 211 shares or 0.65% in the most recent quarter. The Hedge Fund company now holds 32,115 shares of TU which is valued at $1,082,276. TELUS Corporation (USA) makes up approx 0.01% of Comerica Bank’s portfolio.Dorchester Wealth Management Co reduced its stake in TU by selling 825 shares or 0.52% in the most recent quarter. The Hedge Fund company now holds 157,038 shares of TU which is valued at $5,251,351. TELUS Corporation (USA) makes up approx 1.90% of Dorchester Wealth Management Co’s portfolio.

TELUS Corporation (USA) opened for trading at $33.71 and hit $33.71 on the upside on Tuesday, eventually ending the session at $33.56, with a gain of 0.03% or 0.01 points. The heightened volatility saw the trading volume jump to 1,17,110 shares. Company has a market cap of $19,868 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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