Lansforsakringar Fondforvaltning AB publ Buys New Shares in TELUS Co. (NYSE:TU)

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

A number of other large investors have also recently modified their holdings of TU. Maryland State Retirement & Pension System boosted its holdings in shares of TELUS by 1.6% during the 4th quarter. Maryland State Retirement & Pension System now owns 88,180 shares of the Wireless communications provider's stock valued at $1,197,000 after acquiring an additional 1,346 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in shares of TELUS by 7.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 21,733 shares of the Wireless communications provider's stock worth $294,000 after acquiring an additional 1,500 shares in the last quarter. Beverly Hills Private Wealth LLC increased its position in TELUS by 9.7% in the 4th quarter. Beverly Hills Private Wealth LLC now owns 21,492 shares of the Wireless communications provider's stock valued at $291,000 after buying an additional 1,901 shares in the last quarter. Nuveen Asset Management LLC increased its position in TELUS by 0.8% in the 4th quarter. Nuveen Asset Management LLC now owns 451,576 shares of the Wireless communications provider's stock valued at $6,120,000 after buying an additional 3,540 shares in the last quarter. Finally, Ingalls & Snyder LLC increased its position in TELUS by 20.4% in the 4th quarter. Ingalls & Snyder LLC now owns 22,980 shares of the Wireless communications provider's stock valued at $312,000 after buying an additional 3,900 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

Wall Street Analyst Weigh In

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

TELUS Stock Performance

Shares of NYSE:TU traded up $0.18 during trading on Friday, hitting $16.37. 2,027,963 shares of the company were exchanged, compared to its average volume of 2,926,652. The company has a market cap of $24.78 billion, a PE ratio of 33.41, a P/E/G ratio of 5.18 and a beta of 0.73. TELUS Co. has a 52-week low of $13.24 and a 52-week high of $17.27. The stock has a 50 day moving average of $15.09 and a 200 day moving average of $14.85. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th will be issued a $0.2989 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.20 annualized dividend and a dividend yield of 7.30%. This is a boost from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio is presently 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.