Deutsche Bank AG bought a new position in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 1,330,621 shares of the Wireless communications provider's stock, valued at approximately $14,065,000. Deutsche Bank AG owned approximately 0.08% of TELUS at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of TU. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of TELUS by 1.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 779,692 shares of the Wireless communications provider's stock worth $11,181,000 after purchasing an additional 11,900 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of TELUS by 1.9% in the second quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider's stock valued at $739,000 after purchasing an additional 841 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of TELUS by 159.5% in the second quarter. Legal & General Group Plc now owns 37,274 shares of the Wireless communications provider's stock valued at $597,000 after purchasing an additional 22,912 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in TELUS by 67.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,698 shares of the Wireless communications provider's stock worth $140,000 after buying an additional 3,510 shares during the period. Finally, Marshall Wace LLP purchased a new stake in TELUS during the 2nd quarter worth approximately $3,617,000. Institutional investors and hedge funds own 49.40% of the company's stock.
Wall Street Analyst Weigh In
TU has been the topic of a number of research reports. Desjardins lowered shares of TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, August 4th. Morgan Stanley lowered TELUS to an "underweight" rating in a research report on Tuesday, July 21st. Weiss Ratings cut TELUS from a "sell (d+)" rating to a "sell (d)" rating in a research note on Wednesday, August 5th. TD Securities reiterated a "buy" rating on shares of TELUS in a report on Monday, August 3rd. Finally, Raymond James Financial assumed coverage on TELUS in a research note on Wednesday, July 15th. They set a "market perform" rating for the company. Three analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Reduce" and a consensus target price of $15.33.
Check Out Our Latest Report on TU
TELUS Stock Performance
Shares of TU stock opened at $9.89 on Friday. The company has a market cap of $15.57 billion, a P/E ratio of -24.12, a PEG ratio of 9.72 and a beta of 0.64. The firm has a fifty day moving average price of $10.41 and a 200 day moving average price of $12.04. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.88. TELUS Corporation has a 12 month low of $9.20 and a 12 month high of $16.72.
TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.04). TELUS had a negative net margin of 4.51% and a positive return on equity of 8.01%. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.55 billion. Sell-side analysts predict that TELUS Corporation will post 0.57 earnings per share for the current fiscal year.
TELUS Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be paid a dividend of $0.1875 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.75 annualized dividend and a yield of 7.6%. TELUS's payout ratio is presently -295.12%.
TELUS Profile
(
Free Report)
TELUS Corporation NYSE: TU is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.
Beyond core connectivity, TELUS has expanded into health and digital services.
Further Reading
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