Envestnet Asset Management Inc. Raises Holdings in TELUS Corporation (NYSE:TU)

Envestnet Asset Management Inc. increased its position in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 18.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 474,054 shares of the Wireless communications provider's stock after purchasing an additional 75,452 shares during the quarter. Envestnet Asset Management Inc.'s holdings in TELUS were worth $6,798,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC increased its stake in TELUS by 71.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock valued at $33,000 after purchasing an additional 971 shares in the last quarter. NBC Securities Inc. increased its holdings in shares of TELUS by 112,425.0% in the 1st quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock worth $64,000 after purchasing an additional 4,497 shares in the last quarter. Optiver Holding B.V. purchased a new position in shares of TELUS in the fourth quarter worth $120,000. Trust Co. of Vermont lifted its holdings in shares of 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 purchasing an additional 800 shares in the last quarter. Finally, JCIC Asset Management Inc. boosted its position in shares of 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 buying an additional 795 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors.

TELUS Price Performance

Shares of NYSE:TU traded down $0.05 during trading on Friday, hitting $16.47. 3,369,746 shares of the company's stock were exchanged, compared to its average volume of 2,960,167. The business's 50-day simple moving average is $16.23 and its 200 day simple moving average is $15.29. The company has a market cap of $25.12 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 5.01 and a beta of 0.73. TELUS Corporation has a 52-week low of $13.24 and a 52-week high of $17.26. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.64 and a quick ratio of 0.59.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th were issued a $0.2989 dividend. This represents a $1.20 annualized dividend and a dividend yield of 7.26%. The ex-dividend date of this dividend was Tuesday, June 10th. This is an increase from TELUS's previous quarterly dividend of $0.28. TELUS's payout ratio is 212.28%.

Analyst Ratings Changes

TU has been the topic of a number of recent analyst reports. National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Canaccord Genuity Group upped their price objective on TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research report on Monday, May 12th. Finally, Scotiabank reiterated an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $21.50.

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.