MQS Management LLC Invests $718,000 in TELUS Corporation (NYSE:TU)

MQS Management LLC purchased a new stake in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,075 shares of the Wireless communications provider's stock, valued at approximately $718,000.

Several other large investors have also recently bought and sold shares of TU. Mackenzie Financial Corp increased its stake in shares of TELUS by 22.6% during 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 during the period. Bank of Nova Scotia increased its stake in shares of TELUS by 28.3% during the fourth quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider's stock worth $409,662,000 after purchasing an additional 6,659,564 shares during the period. Vanguard Group Inc. increased its stake in shares of TELUS by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider's stock worth $349,841,000 after purchasing an additional 903,921 shares during the period. Invesco Ltd. increased its stake in TELUS by 3.1% during the 4th quarter. Invesco Ltd. now owns 10,993,662 shares of the Wireless communications provider's stock worth $149,074,000 after acquiring an additional 326,531 shares during the period. Finally, Toronto Dominion Bank increased its stake in TELUS by 4.8% during the 4th quarter. Toronto Dominion Bank now owns 10,344,369 shares of the Wireless communications provider's stock worth $140,086,000 after acquiring an additional 475,625 shares during the period. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Price Performance

Shares of TU stock traded up $0.02 during trading hours on Monday, reaching $16.50. The company's stock had a trading volume of 505,330 shares, compared to its average volume of 3,420,399. The firm's 50 day simple moving average is $16.04 and its 200-day simple moving average is $15.12. The company has a market capitalization of $25.15 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 5.00 and a beta of 0.73. TELUS Corporation has a fifty-two week low of $13.24 and a fifty-two week high of $17.26. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 1.49.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th were given a $0.2989 dividend. The ex-dividend date of this dividend was Tuesday, June 10th. This is a positive change from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 7.25%. TELUS's dividend payout ratio (DPR) is 212.28%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on TU. National Bankshares restated a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Canaccord Genuity Group raised their price objective on TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research note on Monday, May 12th. Finally, Bank of America lowered TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $21.50.

TELUS 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.