Public Employees Retirement System of Ohio Sells 43,808 Shares of TELUS Co. (NYSE:TU)

Public Employees Retirement System of Ohio lessened its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 48.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 46,030 shares of the Wireless communications provider's stock after selling 43,808 shares during the period. Public Employees Retirement System of Ohio's holdings in TELUS were worth $625,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TU. Burgundy Asset Management Ltd. raised its stake 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 purchasing an additional 41,119 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of TELUS by 120.3% during the fourth 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 buying an additional 576,964 shares in the last quarter. Squarepoint Ops LLC acquired a new position in TELUS during the fourth quarter valued at $942,000. Tidal Investments LLC raised its position in TELUS by 117.9% during the fourth quarter. Tidal Investments LLC now owns 41,607 shares of the Wireless communications provider's stock valued at $564,000 after buying an additional 22,512 shares during the period. Finally, Toronto Dominion Bank lifted its stake in TELUS by 4.8% in the 4th quarter. Toronto Dominion Bank now owns 10,344,369 shares of the Wireless communications provider's stock worth $140,086,000 after acquiring an additional 475,625 shares in the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

TELUS Stock Down 0.4%

NYSE:TU traded down $0.07 during mid-day trading on Friday, reaching $16.34. The stock had a trading volume of 2,486,217 shares, compared to its average volume of 2,935,259. The stock has a market cap of $24.73 billion, a P/E ratio of 33.34, a PEG ratio of 5.18 and a beta of 0.74. The business's 50 day moving average is $15.31 and its 200 day moving average is $14.88. 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 Co. has a fifty-two week low of $13.24 and a fifty-two week high of $17.27.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.2989 per share. This is a positive change from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 7.32%. The ex-dividend date is Tuesday, June 10th. TELUS's dividend payout ratio (DPR) is 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.