BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Holdings in TELUS Co. (NYSE:TU)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 120.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,056,749 shares of the Wireless communications provider's stock after acquiring an additional 576,964 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned 0.07% of TELUS worth $14,310,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of Nova Scotia raised its holdings in shares of TELUS by 28.3% in the 4th quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider's stock worth $409,662,000 after acquiring an additional 6,659,564 shares during the last quarter. Norges Bank bought a new position in shares of TELUS in the fourth quarter valued at approximately $70,212,000. Mufg Securities Canada LTD. boosted its position in shares of TELUS by 68.9% during the fourth quarter. Mufg Securities Canada LTD. now owns 2,236,163 shares of the Wireless communications provider's stock valued at $30,299,000 after buying an additional 912,277 shares during the last quarter. Vanguard Group Inc. grew its holdings in TELUS by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider's stock worth $349,841,000 after buying an additional 903,921 shares in the last quarter. Finally, Guardian Partners Inc. purchased a new stake in TELUS in the 4th quarter valued at $12,325,000. 49.40% of the stock is owned by institutional investors.

TELUS Price Performance

Shares of TU traded down $0.02 during midday trading on Tuesday, reaching $16.12. The stock had a trading volume of 1,124,944 shares, compared to its average volume of 3,604,374. The company has a market capitalization of $24.40 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. TELUS Co. has a 12-month low of $13.24 and a 12-month high of $17.26. The company's 50-day moving average is $14.93 and its 200 day moving average is $14.83.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be given a dividend of $0.2989 per share. This represents a $1.20 annualized dividend and a yield of 7.42%. This is a positive change from TELUS's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, June 10th. TELUS's dividend payout ratio (DPR) is presently 201.75%.

Analyst Ratings Changes

Several analysts have recently issued reports on TU shares. Cormark lowered shares of TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. National Bankshares reissued a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. Canaccord Genuity Group lifted their price target on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a report on Monday, May 12th. Bank of America lowered TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Finally, Wall Street Zen upgraded TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $21.50.

About TELUS

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.