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

A number of other institutional investors have also made changes to their positions in TU. Mackenzie Financial Corp lifted its position in shares of TELUS by 22.6% in the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock worth $667,840,000 after purchasing an additional 9,068,181 shares in the last quarter. Man Group plc lifted its position in shares of TELUS by 68.2% in the fourth quarter. Man Group plc now owns 2,099,097 shares of the Wireless communications provider's stock worth $28,463,000 after purchasing an additional 850,876 shares in the last quarter. Scotia Capital Inc. lifted its position in shares of TELUS by 4.7% in the first quarter. Scotia Capital Inc. now owns 18,553,552 shares of the Wireless communications provider's stock worth $266,146,000 after purchasing an additional 831,282 shares in the last quarter. Forge First Asset Management Inc. bought a new stake in shares of TELUS in the first quarter worth $8,937,000. Finally, Janus Henderson Group PLC lifted its position in shares of TELUS by 9.2% in the fourth quarter. Janus Henderson Group PLC now owns 7,320,442 shares of the Wireless communications provider's stock worth $99,179,000 after purchasing an additional 618,623 shares in the last quarter. Institutional investors own 49.40% of the company's stock.

TELUS Stock Performance

Shares of TU traded up $0.0350 during trading hours on Friday, hitting $16.5850. The company had a trading volume of 1,004,881 shares, compared to its average volume of 3,351,852. The firm has a market cap of $25.29 billion, a price-to-earnings ratio of 36.06, a PEG ratio of 4.87 and a beta of 0.73. The business has a fifty day moving average of $16.22 and a 200-day moving average of $15.55. TELUS Corporation has a 12 month low of $13.24 and a 12 month high of $17.26. The company has a quick ratio of 0.81, a current ratio of 0.86 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 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 the consensus estimate of $3.63 billion. TELUS had a net margin of 4.67% and a return on equity of 9.10%. TELUS's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. Equities analysts anticipate that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be given a $0.3019 dividend. The ex-dividend date of this dividend is Wednesday, September 10th. This is a boost from TELUS's previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a dividend yield of 7.3%. TELUS's payout ratio is currently 263.04%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TU. Scotiabank reissued an "outperform" rating on shares of TELUS in a research report on Tuesday, July 15th. National Bankshares reissued a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. Finally, Canaccord Genuity Group upped their price target on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research report on Monday, May 12th. One analyst has rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus 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.