Burgundy Asset Management Ltd. Buys 41,119 Shares of TELUS Co. (NYSE:TU)

Burgundy Asset Management Ltd. raised its stake in TELUS Co. (NYSE:TU - Free Report) TSE: T by 26.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 198,708 shares of the Wireless communications provider's stock after buying an additional 41,119 shares during the quarter. Burgundy Asset Management Ltd.'s holdings in TELUS were worth $2,692,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Avior Wealth Management LLC lifted its stake in TELUS by 1,756.0% in the fourth quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock valued at $65,000 after buying an additional 4,548 shares in the last quarter. Optiver Holding B.V. bought a new stake in shares of TELUS in the fourth quarter worth $120,000. Blueshift Asset Management LLC bought a new stake in shares of TELUS in the fourth quarter worth $142,000. Triasima Portfolio Management inc. bought a new stake in shares of TELUS in the fourth quarter worth $146,000. Finally, Legal & General Group Plc bought a new stake in shares of TELUS in the fourth quarter worth $190,000. Institutional investors own 49.40% of the company's stock.

TELUS Trading Down 0.2%

Shares of TELUS stock opened at $16.00 on Friday. TELUS Co. has a 52-week low of $13.24 and a 52-week high of $17.27. The firm has a 50-day moving average of $14.88 and a 200-day moving average of $14.83. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The stock has a market cap of $24.22 billion, a PE ratio of 32.64, a PEG ratio of 5.18 and a beta of 0.73.

TELUS Increases Dividend

The company also recently disclosed 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 is a boost from TELUS's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.20 annualized dividend and a yield of 7.47%. TELUS's dividend payout ratio is currently 201.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Cormark lowered shares of TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Bank of America lowered shares of TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. Canaccord Genuity Group boosted 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. Wall Street Zen upgraded shares of TELUS from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Finally, National Bankshares reissued a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, TELUS currently has an average rating of "Hold" and an average 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.

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