128,567 Shares in TELUS Co. (NYSE:TU) Acquired by Lansforsakringar Fondforvaltning AB publ

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 128,567 shares of the Wireless communications provider's stock, valued at approximately $1,742,000.

Several other hedge funds and other institutional investors have also modified their holdings of TU. Barclays PLC boosted its holdings in TELUS by 38.5% in the 3rd quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider's stock valued at $7,839,000 after purchasing an additional 129,934 shares during the period. Ameriprise Financial Inc. boosted its holdings in TELUS by 25.6% in the 4th quarter. Ameriprise Financial Inc. now owns 528,246 shares of the Wireless communications provider's stock valued at $7,249,000 after purchasing an additional 107,806 shares during the period. American Century Companies Inc. boosted its holdings in TELUS by 4.6% in the 4th quarter. American Century Companies Inc. now owns 119,665 shares of the Wireless communications provider's stock valued at $1,623,000 after purchasing an additional 5,286 shares during the period. Northern Trust Corp boosted its holdings in TELUS by 41.9% in the 4th quarter. Northern Trust Corp now owns 779,525 shares of the Wireless communications provider's stock valued at $10,570,000 after purchasing an additional 230,234 shares during the period. Finally, LPL Financial LLC boosted its holdings in TELUS by 2.7% in the 4th quarter. LPL Financial LLC now owns 279,527 shares of the Wireless communications provider's stock valued at $3,790,000 after purchasing an additional 7,447 shares during the period. Institutional investors own 49.40% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TU. National Bankshares reissued a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Bank of America downgraded shares of TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Canaccord Genuity Group boosted their price objective on shares of TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a report on Monday, May 12th. Wall Street Zen raised shares of TELUS from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Finally, Cormark downgraded shares of TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $21.50.

TELUS Price Performance

Shares of NYSE:TU traded down $0.10 during midday trading on Tuesday, hitting $16.40. The stock had a trading volume of 3,286,423 shares, compared to its average volume of 2,930,695. The company's 50-day moving average price is $15.18 and its 200-day moving average price is $14.87. The company has a market capitalization of $24.82 billion, a P/E ratio of 33.46, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. TELUS Co. has a fifty-two week low of $13.24 and a fifty-two week high of $17.27.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be given a dividend of $0.2989 per share. This represents a $1.20 dividend on an annualized basis and a yield of 7.29%. This is a boost from TELUS's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, June 10th. TELUS's dividend payout ratio is currently 201.75%.

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.