Gulf International Bank UK Ltd Grows Stock Holdings in TELUS Corporation $TU

Key Points

• Gulf International Bank UK Ltd significantly increased its holdings in TELUS Corporation by 3,153.1% in Q1, owning 27,684 shares valued at approximately $397,000.
• Brokerages have given TELUS an average rating of "Hold" with a target price increase from $20.25 to $21.50, reflecting cautious optimism among analysts.
• TELUS recently announced a quarterly dividend of $0.3019 per share, indicating strong returns for shareholders despite a high payout ratio of 263.04%.

Gulf International Bank UK Ltd raised its position in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 3,153.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 27,684 shares of the Wireless communications provider's stock after acquiring an additional 26,833 shares during the period. Gulf International Bank UK Ltd's holdings in TELUS were worth $397,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TU. Legal & General Group Plc acquired a new stake in shares of TELUS in the 4th quarter worth $190,000. Raymond James Financial Inc. acquired a new stake in shares of TELUS in the 4th quarter worth $2,085,000. Barclays PLC lifted its stake in shares of TELUS by 21.0% in the 4th quarter. Barclays PLC now owns 565,398 shares of the Wireless communications provider's stock worth $7,667,000 after acquiring an additional 98,250 shares during the period. Guggenheim Capital LLC lifted its stake in shares of TELUS by 215.2% in the 4th quarter. Guggenheim Capital LLC now owns 51,535 shares of the Wireless communications provider's stock worth $699,000 after acquiring an additional 35,183 shares during the period. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of TELUS by 17.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 688,874 shares of the Wireless communications provider's stock valued at $9,321,000 after purchasing an additional 102,321 shares during the period. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Trading Up 0.2%

Shares of NYSE TU traded up $0.0350 during midday trading on Thursday, reaching $16.5850. 1,232,329 shares of the stock were exchanged, compared to its average volume of 3,362,269. The company has a market capitalization of $25.29 billion, a P/E ratio of 36.06, a P/E/G ratio of 4.79 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 current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. The stock has a 50 day moving average price of $16.21 and a 200-day moving average price of $15.54.

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

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be issued a $0.3019 dividend. The ex-dividend date is Wednesday, September 10th. This is a positive change from TELUS's previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a yield of 7.3%. TELUS's payout ratio is presently 263.04%.

Wall Street Analysts Forecast Growth

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

About TELUS

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.