Montrusco Bolton Investments Inc. raised its holdings in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 7.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,169,763 shares of the Wireless communications provider's stock after acquiring an additional 78,012 shares during the period. Montrusco Bolton Investments Inc. owned approximately 0.08% of TELUS worth $16,775,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of TU. Mackenzie Financial Corp raised its holdings in TELUS by 22.6% in the 4th quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock valued at $667,840,000 after acquiring an additional 9,068,181 shares during the last quarter. Bank of Nova Scotia increased its holdings in shares of TELUS by 28.3% during the 4th quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider's stock worth $409,662,000 after buying an additional 6,659,564 shares during the last quarter. Norges Bank acquired a new stake in shares of TELUS during the 4th quarter worth approximately $70,212,000. Mufg Securities Canada LTD. increased its holdings in shares of TELUS by 68.9% during the 4th quarter. Mufg Securities Canada LTD. now owns 2,236,163 shares of the Wireless communications provider's stock worth $30,299,000 after buying an additional 912,277 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of TELUS by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider's stock worth $349,841,000 after buying an additional 903,921 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on TU. Scotiabank restated an "outperform" rating on shares of TELUS in a report on Tuesday. Canaccord Genuity Group raised their price target on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a report on Monday, May 12th. National Bankshares restated a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Finally, Bank of America downgraded shares of TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Eight research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $21.50.
Read Our Latest Stock Report on TELUS
TELUS Trading Down 0.7%
TELUS stock traded down $0.11 during trading on Friday, hitting $16.25. The company had a trading volume of 2,804,562 shares, compared to its average volume of 3,034,848. TELUS Corporation has a 1-year low of $13.24 and a 1-year high of $17.27. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.49. The company's 50 day simple moving average is $16.14 and its 200-day simple moving average is $15.17. The stock has a market cap of $24.78 billion, a price-to-earnings ratio of 28.51, a price-to-earnings-growth ratio of 4.99 and a beta of 0.73.
TELUS Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th were issued a $0.2989 dividend. This represents a $1.20 annualized dividend and a yield of 7.36%. The ex-dividend date of this dividend was Tuesday, June 10th. This is an increase from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio (DPR) is 212.28%.
TELUS Profile
(
Free Report)
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.
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