Squarepoint Ops LLC Acquires Shares of 69,482 TELUS Co. (NYSE:TU)

Squarepoint Ops LLC purchased a new position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 69,482 shares of the Wireless communications provider's stock, valued at approximately $942,000.

A number of other hedge funds have also bought and sold shares of TU. Optiver Holding B.V. acquired a new stake in shares of TELUS in the 4th quarter valued at approximately $120,000. Blueshift Asset Management LLC acquired a new stake in shares of TELUS in the 4th quarter valued at approximately $142,000. Triasima Portfolio Management inc. acquired a new stake in shares of TELUS in the 4th quarter valued at approximately $146,000. Legal & General Group Plc acquired a new stake in shares of TELUS in the 4th quarter valued at approximately $190,000. Finally, Bayesian Capital Management LP acquired a new stake in shares of TELUS in the 4th quarter valued at approximately $202,000. 49.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented 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. Bank of America lowered shares of TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. National Bankshares reiterated a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Canaccord Genuity Group lifted their price objective on shares of TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research note on Monday, May 12th. Finally, Wall Street Zen upgraded shares of TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Eight analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $21.50.

TELUS Price Performance

NYSE TU traded down $0.03 on Thursday, reaching $16.39. 1,988,489 shares of the company's stock traded hands, compared to its average volume of 2,933,415. TELUS Co. has a 12 month low of $13.24 and a 12 month high of $17.27. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. The stock has a 50-day simple moving average of $15.27 and a 200 day simple moving average of $14.89. The stock has a market cap of $24.81 billion, a PE ratio of 33.44, a P/E/G ratio of 5.18 and a beta of 0.74.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be paid a $0.2989 dividend. 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. This represents a $1.20 dividend on an annualized basis and a yield of 7.30%. TELUS's dividend payout ratio (DPR) is presently 201.75%.

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.