TELUS Co. (NYSE:TU) Position Increased by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in TELUS Co. (NYSE:TU - Free Report) TSE: T by 52.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 390,142 shares of the Wireless communications provider's stock after purchasing an additional 133,636 shares during the period. Wellington Management Group LLP's holdings in TELUS were worth $5,287,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Lansforsakringar Fondforvaltning AB publ purchased a new position in TELUS during the 4th quarter valued at about $1,742,000. Mackenzie Financial Corp increased its holdings in TELUS by 22.6% during the 4th quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock valued at $667,840,000 after acquiring an additional 9,068,181 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in TELUS by 26.1% during the 4th quarter. Burgundy Asset Management Ltd. now owns 198,708 shares of the Wireless communications provider's stock valued at $2,692,000 after acquiring an additional 41,119 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in TELUS by 120.3% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 1,056,749 shares of the Wireless communications provider's stock valued at $14,310,000 after acquiring an additional 576,964 shares in the last quarter. Finally, Squarepoint Ops LLC purchased a new position in TELUS during the 4th quarter valued at about $942,000. Institutional investors and hedge funds own 49.40% of the company's stock.

Analyst Upgrades and Downgrades

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

TELUS Stock Down 0.4%

Shares of NYSE TU traded down $0.07 during trading on Friday, reaching $16.34. 2,486,217 shares of the stock were exchanged, compared to its average volume of 2,935,259. The business's 50-day moving average price is $15.31 and its 200 day moving average price is $14.89. TELUS Co. has a twelve month low of $13.24 and a twelve month high of $17.27. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $24.73 billion, a price-to-earnings ratio of 33.34, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74.

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 issued a $0.2989 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This is a boost from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 7.32%. TELUS's dividend payout ratio is currently 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.