Trexquant Investment LP Takes Position in TELUS Corporation $TU

Key Points

• Trexquant Investment LP acquired a new stake in TELUS Corporation by purchasing 159,230 shares, valued at approximately $2.28 million, in the first quarter of the year.
• TELUS has recently announced an increase in its quarterly dividend to $0.3019 per share, which translates to a 7.3% yield and will be paid out on October 1st.
• Despite missing earnings per share estimates in its latest report, TELUS demonstrated revenue growth, reporting $3.74 billion for the quarter, exceeding analyst expectations.

Trexquant Investment LP bought a new stake in TELUS Corporation (NYSE:TU - Free Report) TSE: T in the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 159,230 shares of the Wireless communications provider's stock, valued at approximately $2,283,000.

Several other large investors also recently made changes to their positions in TU. JCIC Asset Management Inc. boosted its stake in TELUS by 8.0% during the 1st quarter. JCIC Asset Management Inc. now owns 10,784 shares of the Wireless communications provider's stock valued at $155,000 after purchasing an additional 795 shares during the last quarter. Trust Co. of Vermont boosted its stake in TELUS by 10.5% during the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider's stock valued at $121,000 after purchasing an additional 800 shares during the last quarter. Walter Public Investments Inc. boosted its stake in TELUS by 2.2% during the 1st quarter. Walter Public Investments Inc. now owns 37,819 shares of the Wireless communications provider's stock valued at $542,000 after purchasing an additional 819 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in TELUS by 71.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider's stock valued at $33,000 after purchasing an additional 971 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC lifted its position in shares of TELUS by 5.3% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 22,627 shares of the Wireless communications provider's stock worth $324,000 after buying an additional 1,135 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Price Performance

TELUS stock opened at $16.48 on Thursday. TELUS Corporation has a 12 month low of $13.24 and a 12 month high of $17.26. 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 business's 50 day simple moving average is $16.30 and its 200 day simple moving average is $15.66. The company has a market cap of $25.12 billion, a price-to-earnings ratio of 35.82, a PEG ratio of 4.85 and a beta of 0.72.

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

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.3019 per share. This is an increase from TELUS's previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a dividend yield of 7.3%. The ex-dividend date is Wednesday, September 10th. TELUS's dividend payout ratio (DPR) is currently 260.87%.

Wall Street Analyst Weigh In

TU has been the topic of a number of research analyst reports. 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. National Bankshares restated a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Finally, Scotiabank restated an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $21.50.

About TELUS

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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