Public Employees Retirement System of Ohio Raises Position in TELUS Corporation $TU

Key Points

• The Public Employees Retirement System of Ohio significantly increased its position in TELUS Corporation by 272.1%, owning 396,131 shares valued at $6.36 million by the end of the latest quarter.
• TELUS reported earnings of $0.16 per share, slightly missing analysts' expectations, despite revenue growth of 2.2% to $3.74 billion compared to the previous year.
• The company announced a quarterly dividend of $0.3019 per share, reflecting a yield of 7.7% and an increase from its previous dividend of $0.30.

Public Employees Retirement System of Ohio increased its stake in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 272.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 396,131 shares of the Wireless communications provider's stock after buying an additional 289,662 shares during the quarter. Public Employees Retirement System of Ohio's holdings in TELUS were worth $6,361,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Walter Public Investments Inc. grew its holdings in shares of TELUS by 2.0% in the second quarter. Walter Public Investments Inc. now owns 38,584 shares of the Wireless communications provider's stock valued at $620,000 after acquiring an additional 765 shares in the last quarter. JCIC Asset Management Inc. grew its stake in TELUS by 8.0% in the 1st quarter. JCIC Asset Management Inc. now owns 10,784 shares of the Wireless communications provider's stock valued at $155,000 after purchasing an additional 795 shares during the period. Trust Co. of Vermont increased its position in shares of TELUS by 10.5% during the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock valued at $121,000 after purchasing an additional 800 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of TELUS by 71.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock valued at $33,000 after purchasing an additional 971 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC raised its stake in shares of TELUS by 5.3% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 22,627 shares of the Wireless communications provider's stock worth $324,000 after purchasing an additional 1,135 shares during the period. 49.40% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Scotiabank reiterated an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $21.50.

TELUS Stock Performance

NYSE TU opened at $15.67 on Monday. The firm has a market cap of $24.05 billion, a P/E ratio of 34.06, a price-to-earnings-growth ratio of 4.57 and a beta of 0.72. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72. The company's 50 day moving average is $16.20 and its 200-day moving average is $15.73. TELUS Corporation has a 12-month low of $13.24 and a 12-month high of $16.88.

TELUS (NYSE:TU - Get Free Report) TSE: T last issued its earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). TELUS had a net margin of 4.67% and a return on equity of 9.10%. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the firm earned $0.25 EPS. The company's revenue was up 2.2% compared to the same quarter last year. Sell-side analysts predict that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th will be given a dividend of $0.3019 per share. The ex-dividend date is Wednesday, September 10th. This is a positive change from TELUS's previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a yield of 7.7%. TELUS's dividend payout ratio (DPR) is presently 263.04%.

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.

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