TELUS Co. (NYSE:TU) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its position in TELUS Co. (NYSE:TU - Free Report) TSE: T by 41.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 779,525 shares of the Wireless communications provider's stock after buying an additional 230,234 shares during the quarter. Northern Trust Corp owned 0.05% of TELUS worth $10,570,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC lifted its stake in shares of TELUS by 1,756.0% during the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock worth $65,000 after purchasing an additional 4,548 shares during the last quarter. Optiver Holding B.V. purchased a new stake in shares of TELUS during the 4th quarter worth $120,000. Blueshift Asset Management LLC purchased a new stake in shares of TELUS during the 4th quarter worth $142,000. Triasima Portfolio Management inc. purchased a new stake in shares of TELUS during the 4th quarter worth $146,000. Finally, Legal & General Group Plc purchased a new stake in shares of TELUS during the 4th quarter worth $190,000. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

TELUS Stock Performance

TELUS stock traded up $0.14 during midday trading on Friday, hitting $16.13. 2,024,993 shares of the company were exchanged, compared to its average volume of 2,914,647. The firm has a market capitalization of $24.42 billion, a PE ratio of 32.92, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73. TELUS Co. has a fifty-two week low of $13.24 and a fifty-two week high of $17.27. The business has a fifty day simple moving average of $14.90 and a two-hundred day simple moving average of $14.83. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be issued a dividend of $0.2989 per share. This represents a $1.20 annualized dividend and a yield of 7.41%. This is a positive change 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 (DPR) is 201.75%.

About TELUS

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.