Envestnet Asset Management Inc. Acquires 75,452 Shares of TELUS Corporation (NYSE:TU)

Envestnet Asset Management Inc. lifted its holdings in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 18.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 SEC.

Several other institutional investors and hedge funds also recently modified their holdings of TU. Bank of New York Mellon Corp lifted its holdings in shares of TELUS by 39.7% in the first quarter. Bank of New York Mellon Corp now owns 651,054 shares of the Wireless communications provider's stock valued at $9,336,000 after buying an additional 185,020 shares during the period. D.A. Davidson & CO. purchased a new stake in shares of TELUS during the first quarter valued at $206,000. Principal Financial Group Inc. lifted its holdings in shares of TELUS by 14.0% during the first quarter. Principal Financial Group Inc. now owns 64,200 shares of the Wireless communications provider's stock valued at $921,000 after purchasing an additional 7,900 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of TELUS by 16.2% during the first quarter. Private Trust Co. NA now owns 19,634 shares of the Wireless communications provider's stock valued at $282,000 after purchasing an additional 2,735 shares during the last quarter. Finally, Gold Investment Management Ltd. lifted its holdings in shares of TELUS by 27.7% during the first quarter. Gold Investment Management Ltd. now owns 113,354 shares of the Wireless communications provider's stock valued at $1,626,000 after purchasing an additional 24,620 shares during the last quarter. Institutional investors own 49.40% of the company's stock.

TELUS Stock Down 0.3%

TU stock traded down $0.05 during mid-day trading on Friday, hitting $16.47. The stock had a trading volume of 3,369,746 shares, compared to its average volume of 2,960,167. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.49. TELUS Corporation has a 1-year low of $13.24 and a 1-year high of $17.26. The company has a fifty day moving average of $16.23 and a 200 day moving average of $15.30. The stock has a market capitalization of $25.12 billion, a price-to-earnings ratio of 28.90, a PEG ratio of 4.99 and a beta of 0.73.

TELUS Increases Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. National Bankshares reissued a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Scotiabank reissued an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. Finally, Canaccord Genuity Group upped their target price on TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research report on Monday, May 12th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, TELUS has a consensus rating of "Hold" and an average target price of $21.50.

TELUS Company 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.