Quantinno Capital Management LP Grows Stake in TELUS Co. (NYSE:TU)

Quantinno Capital Management LP grew its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 190.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 188,075 shares of the Wireless communications provider's stock after buying an additional 123,303 shares during the quarter. Quantinno Capital Management LP's holdings in TELUS were worth $2,549,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Man Group plc raised its position in TELUS by 68.2% in the fourth quarter. Man Group plc now owns 2,099,097 shares of the Wireless communications provider's stock worth $28,463,000 after acquiring an additional 850,876 shares during the period. Nuveen Asset Management LLC raised its stake in shares of TELUS by 0.8% in the fourth quarter. Nuveen Asset Management LLC now owns 451,576 shares of the Wireless communications provider's stock valued at $6,120,000 after buying an additional 3,540 shares during the period. Letko Brosseau & Associates Inc. lifted its position in shares of TELUS by 2.5% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 6,531,717 shares of the Wireless communications provider's stock valued at $88,516,000 after buying an additional 159,359 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of TELUS by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 7,320,442 shares of the Wireless communications provider's stock valued at $99,179,000 after buying an additional 618,623 shares during the last quarter. Finally, JARISLOWSKY FRASER Ltd grew its stake in shares of TELUS by 2.4% during the 4th quarter. JARISLOWSKY FRASER Ltd now owns 728,668 shares of the Wireless communications provider's stock worth $9,875,000 after acquiring an additional 17,256 shares during the period. Institutional investors and hedge funds own 49.40% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. Cormark downgraded TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Bank of America cut TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Wall Street Zen upgraded TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Canaccord Genuity Group increased 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. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, TELUS currently has a consensus rating of "Hold" and an average target price of $21.50.

TELUS Price Performance

TELUS stock traded up $0.14 during midday trading on Monday, hitting $16.13. 2,024,993 shares of the company's stock were exchanged, compared to its average volume of 2,920,613. The company has a market cap of $24.42 billion, a P/E ratio of 32.92, a PEG ratio of 5.18 and a beta of 0.73. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The stock has a 50-day moving average price of $14.90 and a two-hundred day moving average price of $14.83. TELUS Co. has a 52-week low of $13.24 and a 52-week high of $17.27.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be given 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 presently 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.