TELUS Corporation $TU Position Increased by American Century Companies Inc.

Key Points

• American Century Companies Inc. has increased its stake in TELUS Corporation by 43.4%, holding 171,551 shares worth approximately $2.46 million after acquiring additional shares in the first quarter.
• TELUS recently declared a quarterly dividend of $0.3019 per share, representing a yield of 7.3%, up from the previous dividend of $0.30.
• The company reported a miss in earnings with $0.16 EPS, slightly below the consensus estimate of $0.17, despite achieving quarterly revenue of $3.74 billion, exceeding analyst expectations.

American Century Companies Inc. boosted its stake in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 43.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 171,551 shares of the Wireless communications provider's stock after acquiring an additional 51,886 shares during the quarter. American Century Companies Inc.'s holdings in TELUS were worth $2,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in TU. Farther Finance Advisors LLC boosted its stake in shares of TELUS by 71.9% in the first 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 in the last quarter. NBC Securities Inc. boosted its position in TELUS by 112,425.0% during the first quarter. NBC Securities Inc. now owns 4,501 shares of the Wireless communications provider's stock worth $64,000 after purchasing an additional 4,497 shares in the last quarter. Trust Co. of Vermont boosted its position in TELUS by 10.5% during the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock worth $121,000 after purchasing an additional 800 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in shares of TELUS in the first quarter worth $134,000. Finally, TD Private Client Wealth LLC raised its holdings in shares of TELUS by 175.4% in the first quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider's stock worth $149,000 after acquiring an additional 6,624 shares during the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on TU. Canaccord Genuity Group upped their target price on TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research note on Monday, May 12th. Scotiabank reissued an "outperform" rating on shares of TELUS in a research report on Tuesday, July 15th. Finally, National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a research report on Monday, May 12th. One research analyst has rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, TELUS has an average rating of "Hold" and a consensus price target of $21.50.

TELUS Stock Performance

TU traded down $0.04 during trading hours on Thursday, hitting $16.44. The company's stock had a trading volume of 1,915,161 shares, compared to its average volume of 3,348,250. The company has a 50-day simple moving average of $16.30 and a 200 day simple moving average of $15.66. The company has a current ratio of 0.86, a quick ratio of 0.81 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $25.06 billion, a PE ratio of 35.73, a PEG ratio of 4.85 and a beta of 0.72. TELUS Corporation has a fifty-two week low of $13.24 and a fifty-two week high of $17.26.

TELUS (NYSE:TU - Get Free Report) TSE: T last issued its quarterly earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. TELUS had a net margin of 4.67% and a return on equity of 9.10%. The business's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 earnings per share. As a group, sell-side analysts expect that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th will be paid a dividend of $0.3019 per share. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.21 annualized dividend and a dividend yield of 7.3%. This is a boost from TELUS's previous quarterly dividend of $0.30. TELUS's dividend payout ratio is 260.87%.

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.