111 Capital Purchases Shares of 120,053 TELUS Corporation $TU

Key Points

• 111 Capital has acquired a new stake in TELUS Corporation, purchasing 120,053 shares valued at around $1.93 million in the second quarter, as reported in its Form 13F filing.
• In addition to 111 Capital, several hedge funds have significantly increased their holdings in TELUS, with NBC Securities Inc. boosting its position by an astounding 112,425% in the first quarter.
• TELUS recently announced a quarterly dividend increase to $0.3019, reflecting a dividend yield of 7.7%, despite a high payout ratio of 263.04%.

111 Capital purchased a new stake in TELUS Corporation (NYSE:TU - Free Report) TSE: T in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 120,053 shares of the Wireless communications provider's stock, valued at approximately $1,929,000.

A number of other hedge funds have also recently bought and sold shares of TU. NBC Securities Inc. boosted its holdings in TELUS by 112,425.0% in the 1st quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock valued at $64,000 after purchasing an additional 4,497 shares during the period. Vest Financial LLC boosted its holdings in TELUS by 49.1% in the 1st quarter. Vest Financial LLC now owns 95,944 shares of the Wireless communications provider's stock valued at $1,376,000 after purchasing an additional 31,604 shares during the period. First Affirmative Financial Network boosted its holdings in TELUS by 8.6% in the 1st quarter. First Affirmative Financial Network now owns 41,070 shares of the Wireless communications provider's stock valued at $589,000 after purchasing an additional 3,244 shares during the period. Farther Finance Advisors LLC boosted its holdings in TELUS by 71.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock valued at $33,000 after purchasing an additional 971 shares during the period. Finally, Cardinal Capital Management Inc. boosted its holdings in TELUS by 1.8% in the 1st quarter. Cardinal Capital Management Inc. now owns 381,871 shares of the Wireless communications provider's stock valued at $5,479,000 after purchasing an additional 6,780 shares during the period. 49.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TU shares. Scotiabank reaffirmed an "outperform" rating on shares of TELUS in a report on Tuesday, July 15th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of TELUS in a report on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, TELUS has a consensus rating of "Hold" and a consensus price target of $21.50.

TELUS Trading Up 0.7%

Shares of TU stock opened at $15.69 on Friday. TELUS Corporation has a 12-month low of $13.24 and a 12-month high of $16.74. The company has a market capitalization of $24.08 billion, a P/E ratio of 34.10, a P/E/G ratio of 4.59 and a beta of 0.71. The firm has a 50-day moving average price of $16.12 and a 200 day moving average price of $15.74. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its quarterly earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). TELUS had a net margin of 4.67% and a return on equity of 9.10%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the prior year, the business earned $0.25 earnings per share. The company's revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th were paid a $0.3019 dividend. This is a boost from TELUS's previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a dividend yield of 7.7%. The ex-dividend date of this dividend was Wednesday, September 10th. TELUS's payout ratio is presently 263.04%.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.