Bank of New York Mellon Corp grew its holdings in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 39.7% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 651,054 shares of the Wireless communications provider's stock after buying an additional 185,020 shares during the quarter. Bank of New York Mellon Corp's holdings in TELUS were worth $9,336,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Mackenzie Financial Corp grew its position in TELUS by 22.6% in the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock worth $667,840,000 after acquiring an additional 9,068,181 shares in the last quarter. Bank of Nova Scotia increased its position in shares of TELUS by 28.3% during the fourth quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider's stock worth $409,662,000 after purchasing an additional 6,659,564 shares in the last quarter. Norges Bank acquired a new position in shares of TELUS in the 4th quarter valued at $70,212,000. Mufg Securities Canada LTD. increased its position in shares of TELUS by 68.9% in the 4th quarter. Mufg Securities Canada LTD. now owns 2,236,163 shares of the Wireless communications provider's stock valued at $30,299,000 after acquiring an additional 912,277 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in TELUS by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider's stock valued at $349,841,000 after purchasing an additional 903,921 shares during the last quarter. Institutional investors own 49.40% of the company's stock.
TELUS Price Performance
Shares of TU stock opened at $16.44 on Tuesday. The stock has a market cap of $25.06 billion, a price-to-earnings ratio of 21.65, a PEG ratio of 4.93 and a beta of 0.73. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 1.49. TELUS Corporation has a twelve month low of $13.24 and a twelve month high of $17.27. The business's fifty day moving average is $16.15 and its 200 day moving average is $15.21.
TELUS Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th were paid a dividend of $0.2989 per share. This is a positive change from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.27%. The ex-dividend date was Tuesday, June 10th. TELUS's dividend payout ratio (DPR) is currently 212.28%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Canaccord Genuity Group increased their price objective on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research report on Monday, May 12th. Scotiabank reaffirmed an "outperform" rating on shares of TELUS in a report on Tuesday, July 15th. Finally, National Bankshares reissued a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $21.50.
View Our Latest Research Report on TELUS
TELUS Company Profile
(
Free Report)
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.
Further Reading
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