TELUS Corporation (NYSE:TU) Shares Acquired by Fiera Capital Corp

Key Points

• Fiera Capital Corp increased its stake in TELUS Corporation by 1.2%, holding a total of approximately 16.27 million shares valued at $233.6 million.
• TELUS announced a quarterly dividend of $0.2989 per share, up from the previous $0.28, resulting in an annualized dividend of $1.20 and a yield of 7.36%.
• Several hedge funds have significantly increased their positions in TELUS, with notable increases of 71.9% and 112,425% reported by different firms during the first quarter.

Fiera Capital Corp increased its stake in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 1.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,270,907 shares of the Wireless communications provider's stock after acquiring an additional 192,599 shares during the period. Fiera Capital Corp owned approximately 1.07% of TELUS worth $233,606,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Mackenzie Financial Corp lifted its position in TELUS by 22.6% during the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock valued at $667,840,000 after buying an additional 9,068,181 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of TELUS by 28.3% during the fourth quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider's stock worth $409,662,000 after purchasing an additional 6,659,564 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of TELUS by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider's stock worth $349,841,000 after purchasing an additional 903,921 shares in the last quarter. Invesco Ltd. lifted its position in shares of TELUS by 3.1% during the fourth quarter. Invesco Ltd. now owns 10,993,662 shares of the Wireless communications provider's stock worth $149,074,000 after purchasing an additional 326,531 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of TELUS by 4.8% during the fourth quarter. Toronto Dominion Bank now owns 10,344,369 shares of the Wireless communications provider's stock worth $140,086,000 after purchasing an additional 475,625 shares in the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TU has been the subject of a number of research analyst reports. Canaccord Genuity Group lifted their price target 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. National Bankshares restated a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Finally, Scotiabank restated 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 assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $21.50.

TELUS Stock Performance

Shares of TU traded down $0.37 during midday trading on Friday, hitting $15.74. 3,202,651 shares of the stock traded hands, compared to its average volume of 3,411,441. TELUS Corporation has a 1-year low of $13.24 and a 1-year high of $17.26. The firm has a market capitalization of $24.00 billion, a PE ratio of 27.62, a price-to-earnings-growth ratio of 4.91 and a beta of 0.73. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.59 and a current ratio of 0.64. The business's 50 day moving average price is $16.25 and its two-hundred day moving average price is $15.35.

TELUS Increases Dividend

The company also recently declared 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 represents a $1.20 annualized dividend and a dividend yield of 7.6%. This is a positive change from TELUS's previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Tuesday, June 10th. TELUS's dividend payout ratio is presently 212.28%.

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.