TELUS Corporation $TU Shares Acquired by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec increased its stake in TELUS Corporation by 9.2%, owning approximately $328.59 million worth of shares.
• TELUS reported earnings of $0.16 per share, missing analysts' estimates of $0.17, even though its revenue grew by 2.2% year-over-year.
• The company raised its quarterly dividend to $0.3019, resulting in an annualized yield of 7.3%, with a payout ratio of 263.04%.

Federation des caisses Desjardins du Quebec grew its stake in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 9.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,899,251 shares of the Wireless communications provider's stock after purchasing an additional 1,938,521 shares during the quarter. TELUS makes up approximately 1.6% of Federation des caisses Desjardins du Quebec's investment portfolio, making the stock its 13th largest position. Federation des caisses Desjardins du Quebec owned approximately 1.51% of TELUS worth $328,588,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of TELUS by 71.9% during the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock valued at $33,000 after buying an additional 971 shares during the last quarter. NBC Securities Inc. lifted its position in shares of TELUS by 112,425.0% during the first quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock valued at $64,000 after buying an additional 4,497 shares during the last quarter. Trust Co. of Vermont lifted its position 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 buying an additional 800 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of TELUS during the first quarter valued at about $134,000. Finally, TD Private Client Wealth LLC lifted its position in shares of TELUS by 175.4% during the first quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider's stock valued at $149,000 after buying an additional 6,624 shares during the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Trading Up 0.9%

TU traded up $0.16 on Friday, hitting $16.58. The company had a trading volume of 2,483,767 shares, compared to its average volume of 2,683,385. The firm has a market cap of $25.28 billion, a P/E ratio of 36.03, a PEG ratio of 4.83 and a beta of 0.72. TELUS Corporation has a 1 year low of $13.24 and a 1 year high of $17.26. The company's fifty day moving average price is $16.32 and its 200 day moving average price is $15.68. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72.

TELUS (NYSE:TU - Get Free Report) TSE: T last issued its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.63 billion. TELUS had a net margin of 4.67% and a return on equity of 9.10%. The firm's quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. As a group, equities analysts expect that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be paid a dividend of $0.3019 per share. This represents a $1.21 dividend on an annualized basis and a yield of 7.3%. This is a boost from TELUS's previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, September 10th. TELUS's payout ratio is currently 263.04%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. Scotiabank reaffirmed an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. Finally, Canaccord Genuity Group raised their price objective on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research note on Monday, May 12th. One equities research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. 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.