Intact Investment Management Inc. raised its position in TELUS Corporation (NYSE:TU - Free Report) TSE: T by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,921,762 shares of the Wireless communications provider's stock after acquiring an additional 64,300 shares during the quarter. TELUS makes up approximately 0.9% of Intact Investment Management Inc.'s portfolio, making the stock its 28th biggest position. Intact Investment Management Inc. owned 0.13% of TELUS worth $27,567,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of TU. Farther Finance Advisors LLC boosted its stake in shares of TELUS by 71.9% in the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock valued at $33,000 after buying an additional 971 shares during the period. NBC Securities Inc. boosted its stake in shares of TELUS by 112,425.0% in the 1st quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock valued at $64,000 after buying an additional 4,497 shares during the period. Optiver Holding B.V. purchased a new position in shares of TELUS in the 4th quarter valued at about $120,000. Blueshift Asset Management LLC purchased a new position in shares of TELUS in the 4th quarter valued at about $142,000. Finally, Legal & General Group Plc purchased a new position in shares of TELUS in the 4th quarter valued at about $190,000. 49.40% of the stock is owned by institutional investors and hedge funds.
TELUS Trading Down 0.2%
NYSE:TU opened at $15.99 on Friday. The firm has a market cap of $24.38 billion, a P/E ratio of 28.04, a PEG ratio of 5.05 and a beta of 0.74. The company has a current ratio of 0.64, a quick ratio of 0.59 and a debt-to-equity ratio of 1.49. The stock's 50 day simple moving average is $15.68 and its 200-day simple moving average is $14.94. TELUS Corporation has a 12-month low of $13.24 and a 12-month high of $17.27.
TELUS Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be issued a dividend of $0.2989 per share. This represents a $1.20 dividend on an annualized basis and a yield of 7.48%. The ex-dividend date is Tuesday, June 10th. This is a positive change from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio is currently 212.28%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Cormark cut TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. National Bankshares restated a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Canaccord Genuity Group boosted their target price on TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research note on Monday, May 12th. Finally, Bank of America cut TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Eight research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, TELUS currently has a consensus rating of "Hold" and a consensus target price of $21.50.
Get Our Latest Stock Report on TU
About TELUS
(
Free Report)
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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