Vanguard Group Inc. Increases Stock Position in TELUS Corporation $TU

Key Points

• Vanguard Group Inc. has increased its holdings in TELUS Corporation by 1.5%, owning 26,185,917 shares worth approximately $375.6 million following an additional purchase of 384,510 shares.
• TELUS reported a miss on earnings per share for the latest quarter, with $0.16 EPS compared to the consensus estimate of $0.17, but its revenue increased by 2.2% year-over-year.
• The company has declared a quarterly dividend of $0.3019 per share with a yield of 7.4%, up from the previous $0.30, reflecting its commitment to returning value to shareholders.

Vanguard Group Inc. increased its position in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 1.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,185,917 shares of the Wireless communications provider's stock after buying an additional 384,510 shares during the period. Vanguard Group Inc. owned 1.73% of TELUS worth $375,585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TU. Mackenzie Financial Corp increased its stake in TELUS by 22.6% in the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock valued at $667,840,000 after purchasing an additional 9,068,181 shares in the last quarter. Man Group plc boosted its holdings in TELUS by 68.2% during the fourth quarter. Man Group plc now owns 2,099,097 shares of the Wireless communications provider's stock worth $28,463,000 after purchasing an additional 850,876 shares during the last quarter. Scotia Capital Inc. boosted its holdings in TELUS by 4.7% during the first quarter. Scotia Capital Inc. now owns 18,553,552 shares of the Wireless communications provider's stock worth $266,146,000 after purchasing an additional 831,282 shares during the last quarter. Forge First Asset Management Inc. bought a new stake in TELUS in the first quarter worth about $8,937,000. Finally, Janus Henderson Group PLC raised its position in TELUS by 9.2% in the fourth quarter. Janus Henderson Group PLC now owns 7,320,442 shares of the Wireless communications provider's stock worth $99,179,000 after acquiring an additional 618,623 shares during the period. 49.40% of the stock is owned by institutional investors.

TELUS Stock Up 0.8%

Shares of TELUS stock traded up $0.1350 during trading on Wednesday, hitting $16.6250. The company's stock had a trading volume of 1,066,561 shares, compared to its average volume of 3,361,239. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.81 and a current ratio of 0.86. The company has a fifty day simple moving average of $16.20 and a two-hundred day simple moving average of $15.53. The company has a market capitalization of $25.35 billion, a PE ratio of 36.14, a P/E/G ratio of 4.79 and a beta of 0.73. TELUS Corporation has a 52 week low of $13.24 and a 52 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 the consensus estimate of $0.17 by ($0.01). TELUS had a return on equity of 9.10% and a net margin of 4.67%.The business had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. The firm's revenue was up 2.2% compared to the same quarter last year. Equities research analysts predict that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on TU. Canaccord Genuity Group lifted their price objective on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research report on Monday, May 12th. National Bankshares reaffirmed a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Finally, Scotiabank reissued 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $21.50.

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.