Hexavest Has Trimmed Its Stake in Telus Co L En (TU) as Valuation Declined; Provise Management Group Holds Position in Bb&T (BBT)

April 25, 2018 - By Clifton Ray

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Hexavest Inc decreased its stake in Telus Corp Co L En (TU) by 1.07% based on its latest 2017Q4 regulatory filing with the SEC. Hexavest Inc sold 8,784 shares as the company’s stock declined 7.79% with the market. The hedge fund held 815,909 shares of the telecommunications equipment company at the end of 2017Q4, valued at $31.01 million, down from 824,693 at the end of the previous reported quarter. Hexavest Inc who had been investing in Telus Corp Co L En for a number of months, seems to be less bullish one the $ market cap company. The stock decreased 0.37% or $0.13 during the last trading session, reaching $35.08. About 319,880 shares traded or Infinity% up from the average. Telus Corporation Ordinary Shar (NYSE:TU) has risen 7.22% since April 25, 2017 and is uptrending. It has underperformed by 4.33% the S&P500.

Provise Management Group Llc increased its stake in Bb&T Corp (BBT) by 351.92% based on its latest 2017Q4 regulatory filing with the SEC. Provise Management Group Llc bought 21,386 shares as the company’s stock rose 2.32% while stock markets declined. The institutional investor held 27,463 shares of the major banks company at the end of 2017Q4, valued at $1.37 million, up from 6,077 at the end of the previous reported quarter. Provise Management Group Llc who had been investing in Bb&T Corp for a number of months, seems to be bullish on the $42.12B market cap company. The stock increased 0.92% or $0.49 during the last trading session, reaching $54.02. About 9.40M shares traded or 130.32% up from the average. BB&T Corporation (NYSE:BBT) has risen 16.87% since April 25, 2017 and is uptrending. It has outperformed by 5.32% the S&P500.

Analysts await Telus Corporation Ordinary Shar (NYSE:TU) to report earnings on May, 10 before the open. They expect $0.59 earnings per share, up 5.36% or $0.03 from last year’s $0.56 per share. After $0.43 actual earnings per share reported by Telus Corporation Ordinary Shar for the previous quarter, Wall Street now forecasts 37.21% EPS growth.

Hexavest Inc, which manages about $16.29B and $8.76 billion US Long portfolio, upped its stake in Pinnacle West Cap En (NYSE:PNW) by 3,753 shares to 272,688 shares, valued at $23.23M in 2017Q4, according to the filing. It also increased its holding in Vaneck Vectors En by 94,148 shares in the quarter, for a total of 8.11 million shares, and has risen its stake in Pfizer Inc En (NYSE:PFE).

Among 12 analysts covering Telus Corporation (NYSE:TU), 9 have Buy rating, 0 Sell and 3 Hold. Therefore 75% are positive. Telus Corporation had 19 analyst reports since August 4, 2015 according to SRatingsIntel. The rating was maintained by Bank of America on Tuesday, November 21 with “Neutral”. The company was upgraded on Tuesday, February 7 by National Bank Canada. RBC Capital Markets downgraded the shares of TU in report on Thursday, December 17 to “Sector Perform” rating. The stock of Telus Corporation Ordinary Shar (NYSE:TU) earned “Buy” rating by Desjardins Securities on Thursday, August 11. RBC Capital Markets maintained it with “Outperform” rating and $46.0 target in Monday, August 10 report. RBC Capital Markets upgraded Telus Corporation Ordinary Shar (NYSE:TU) on Friday, November 10 to “Outperform” rating. The rating was upgraded by TD Securities on Friday, February 2 to “Buy”. The stock of Telus Corporation Ordinary Shar (NYSE:TU) earned “Hold” rating by TD Securities on Wednesday, March 23. The firm earned “Outperform” rating on Tuesday, January 26 by Macquarie Research. Barclays Capital maintained the shares of TU in report on Friday, November 10 with “Overweight” rating.

Provise Management Group Llc, which manages about $1.14B and $697.04M US Long portfolio, decreased its stake in Amerisourcebergen Corp (NYSE:ABC) by 8,266 shares to 51,362 shares, valued at $4.72 million in 2017Q4, according to the filing. It also reduced its holding in Amazon Com Inc (NASDAQ:AMZN) by 358 shares in the quarter, leaving it with 6,752 shares, and cut its stake in Colgate Palmolive Co (NYSE:CL).

Since October 25, 2017, it had 0 insider purchases, and 8 sales for $9.32 million activity. HENRY I. PATRICIA had sold 2,825 shares worth $155,943. 7,762 shares were sold by Bradley W Bennett, worth $373,811 on Thursday, October 26. 12,357 shares valued at $589,373 were sold by Johnson Robert Jerome JR on Wednesday, October 25. 8,929 shares were sold by Powell Cynthia B, worth $486,760. Shares for $559,259 were sold by BANNER JENNIFER S on Thursday, October 26. On Monday, February 5 the insider QUBEIN NIDO R sold $1.15 million.

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