AEGON ASSET MANAGEMENT UK Plc Acquires 22,718 Shares of TELUS Corporation $TU

Key Points

• AEGON ASSET MANAGEMENT UK Plc increased its stake in TELUS Corporation by 2.2% during Q2, acquiring 22,718 additional shares, and now holds approximately 1,054,615 shares valued at $16.89 million.
• Analysts have a mixed outlook on TELUS, with one Buy rating and seven Hold ratings, leading to an average consensus price target of $21.50.
• TELUS recently declared a quarterly dividend of $0.3019, up from the previous $0.30, yielding 8.0% annually.

AEGON ASSET MANAGEMENT UK Plc raised its holdings in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,054,615 shares of the Wireless communications provider's stock after acquiring an additional 22,718 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned about 0.07% of TELUS worth $16,890,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TU. Farther Finance Advisors LLC grew its position in TELUS by 71.9% during the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock valued at $33,000 after acquiring an additional 971 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in TELUS during the first quarter valued at approximately $883,000. Intact Investment Management Inc. grew its position in TELUS by 3.5% during the first quarter. Intact Investment Management Inc. now owns 1,921,762 shares of the Wireless communications provider's stock valued at $27,567,000 after acquiring an additional 64,300 shares during the last quarter. JCIC Asset Management Inc. grew its position in TELUS by 8.0% during the first quarter. JCIC Asset Management Inc. now owns 10,784 shares of the Wireless communications provider's stock valued at $155,000 after acquiring an additional 795 shares during the last quarter. Finally, Trust Co. of Vermont grew its position in TELUS by 10.5% during the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock valued at $121,000 after acquiring an additional 800 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings reiterated a "hold (c)" rating on shares of TELUS in a research report on Wednesday, October 8th. Scotiabank reissued an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $21.50.

TELUS Stock Performance

NYSE:TU opened at $15.14 on Wednesday. The firm has a market cap of $23.23 billion, a PE ratio of 32.90, a price-to-earnings-growth ratio of 4.51 and a beta of 0.71. TELUS Corporation has a fifty-two week low of $13.24 and a fifty-two week high of $16.74. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.81 and a current ratio of 0.86. The business has a 50 day moving average price of $16.02 and a 200-day moving average price of $15.80.

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 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). TELUS had a return on equity of 9.10% and a net margin of 4.67%.The business had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.63 billion. During the same period in the previous year, the business earned $0.25 EPS. The business's revenue was up 2.2% compared to the same quarter last year. Equities research analysts predict that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th were paid a $0.3019 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This is a positive change from TELUS's previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a yield of 8.0%. TELUS's payout ratio is 263.04%.

TELUS 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.

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