Northern Trust Corp Purchases 230,234 Shares of TELUS Co. (NYSE:TU)

Northern Trust Corp raised its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 41.9% during the fourth quarter, according to the company in 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 purchasing an additional 230,234 shares during the period. Northern Trust Corp owned 0.05% of TELUS worth $10,570,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in TU. The Manufacturers Life Insurance Company raised its position in shares of TELUS by 8.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,102,714 shares of the Wireless communications provider's stock valued at $82,855,000 after acquiring an additional 459,112 shares during the period. Optiver Holding B.V. acquired a new stake in shares of TELUS in the 4th quarter valued at approximately $120,000. Tower Research Capital LLC TRC raised its position in shares of TELUS by 477.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 44,268 shares of the Wireless communications provider's stock valued at $600,000 after acquiring an additional 36,598 shares during the period. Natixis raised its position in shares of TELUS by 21.0% in the 4th quarter. Natixis now owns 665,956 shares of the Wireless communications provider's stock valued at $9,030,000 after acquiring an additional 115,727 shares during the period. Finally, Ossiam raised its position in shares of TELUS by 88.4% in the 4th quarter. Ossiam now owns 271,801 shares of the Wireless communications provider's stock valued at $3,683,000 after acquiring an additional 127,498 shares during the period. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TU shares. Cormark downgraded shares of TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Canaccord Genuity Group raised their target price on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating 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. StockNews.com upgraded shares of TELUS from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Finally, National Bankshares restated a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Eight equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $21.50.

TELUS Stock Up 0.4%

Shares of TU traded up $0.06 during mid-day trading on Tuesday, hitting $15.95. 2,165,753 shares of the company's stock were exchanged, compared to its average volume of 2,911,338. The company has a market cap of $24.15 billion, a PE ratio of 32.55, 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 company has a 50-day simple moving average of $14.82 and a 200 day simple moving average of $14.81. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.2989 per share. This is a boost from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 7.50%. The ex-dividend date is Tuesday, June 10th. TELUS's dividend payout ratio (DPR) is currently 201.75%.

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.