3,429,575 TELUS Corporation $TU Shares Purchased by Letko Brosseau & Associates Inc.

Key Points

• Letko Brosseau & Associates increased its TELUS stake by 33.6%, buying 3.43 million shares in the third quarter and bringing its holdings to 13.65 million shares, worth about $114.9 million.
• TELUS reported quarterly EPS of $0.11, missing the $0.12 consensus estimate. Its shares opened at $8.53, down 1.6% in the session described.
• The company declared a quarterly dividend of C$0.19 per share, equivalent to an annualized yield of 8.8%; analysts’ consensus rating was “Reduce.”

Letko Brosseau & Associates Inc. raised its stake in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 33.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,649,828 shares of the Wireless communications provider's stock after acquiring an additional 3,429,575 shares during the quarter. TELUS makes up approximately 1.5% of Letko Brosseau & Associates Inc.'s investment portfolio, making the stock its 24th largest position. Letko Brosseau & Associates Inc. owned 0.86% of TELUS worth $114,890,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Bank of Nova Scotia acquired a new stake in shares of TELUS in the 2nd quarter valued at approximately $255,178,000. The Manufacturers Life Insurance Company acquired a new position in TELUS during the 2nd quarter worth approximately $100,492,000. Bank of America Corp DE acquired a new position in TELUS during the 2nd quarter worth approximately $75,058,000. Jupiter Topco LLC bought a new position in TELUS in the 2nd quarter valued at approximately $68,500,000. Finally, Deutsche Bank AG bought a new position in TELUS in the 2nd quarter valued at approximately $14,065,000. Institutional investors own 49.40% of the company's stock.

TELUS Trading Down 1.6%

Shares of NYSE TU opened at $8.53 on Friday. The firm has a 50 day moving average price of $8.64 and a two-hundred day moving average price of $11.14. The stock has a market cap of $13.55 billion, a P/E ratio of 15.74, a price-to-earnings-growth ratio of 13.88 and a beta of 0.63. TELUS Corporation has a 52-week low of $7.64 and a 52-week high of $14.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.62 and a current ratio of 0.63.

TELUS (NYSE:TU - Get Free Report) TSE: T last issued its quarterly earnings data on Friday, November 6th. The Wireless communications provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The business had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $3.50 billion. TELUS had a positive return on equity of 7.66% and a negative net margin of 10.27%. As a group, equities analysts forecast that TELUS Corporation will post 0.35 EPS for the current year.

TELUS Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, January 4th. Stockholders of record on Friday, December 11th will be paid a C$0.19 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.75 annualized dividend and a dividend yield of 8.8%. TELUS's dividend payout ratio is presently -57.45%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Desjardins lowered shares of TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, August 4th. Bank of America cut shares of TELUS from a "buy" rating to an "underperform" rating in a research note on Tuesday, August 4th. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of TELUS in a report on Thursday, October 8th. National Bank Financial cut TELUS from an "outperform" rating to a "sector perform" rating in a research note on Tuesday, August 4th. Finally, Barclays set a $10.00 price objective on TELUS and gave the company an "equal weight" rating in a report on Tuesday, October 13th. Three analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $15.00.

About TELUS

TELUS is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. Its core services include wireless voice and data, internet, television and home phone offerings, as well as communications and technology solutions for businesses and public-sector organizations. The company also operates TELUS Health, which provides digital health services and technology, and TELUS Agriculture & Consumer Goods, which offers technology and data solutions for the agriculture and food industries.

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