TELUS Corporation (NYSE:TU) Shares Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in TELUS Corporation by 83.9%, acquiring an additional 57,266 shares, bringing its total holdings to 125,510 shares valued at approximately $1.8 million.
• Several other large investors, including Federated Hermes Inc. and Cetera Investment Advisers, also increased their stakes in TELUS during the first quarter, indicating strong institutional interest in the stock.
• TELUS announced a dividend increase, with a quarterly dividend of $0.2989, resulting in a substantial annualized yield of 7.38% despite a payout ratio of 212.28%.

XTX Topco Ltd grew its position in shares of TELUS Corporation (NYSE:TU - Free Report) TSE: T by 83.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 125,510 shares of the Wireless communications provider's stock after purchasing an additional 57,266 shares during the quarter. XTX Topco Ltd's holdings in TELUS were worth $1,800,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp grew its holdings in shares of TELUS by 22.6% during the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider's stock worth $667,840,000 after purchasing an additional 9,068,181 shares during the last quarter. Bank of Nova Scotia grew its holdings in shares of TELUS by 28.3% during the fourth quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider's stock worth $409,662,000 after purchasing an additional 6,659,564 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of TELUS by 3.6% during the fourth quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider's stock worth $349,841,000 after purchasing an additional 903,921 shares during the last quarter. Fiera Capital Corp grew its holdings in shares of TELUS by 1.2% during the first quarter. Fiera Capital Corp now owns 16,270,907 shares of the Wireless communications provider's stock worth $233,606,000 after purchasing an additional 192,599 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of TELUS by 3.1% during the fourth quarter. Invesco Ltd. now owns 10,993,662 shares of the Wireless communications provider's stock worth $149,074,000 after purchasing an additional 326,531 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company's stock.

TELUS Stock Performance

Shares of TU traded down $0.50 during mid-day trading on Friday, hitting $15.60. 5,098,545 shares of the company's stock were exchanged, compared to its average volume of 2,982,687. 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 firm has a market capitalization of $23.79 billion, a P/E ratio of 27.37, a P/E/G ratio of 4.88 and a beta of 0.73. TELUS Corporation has a fifty-two week low of $13.24 and a fifty-two week high of $17.26. The business's 50 day moving average is $16.24 and its two-hundred day moving average is $15.37.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th were given a $0.2989 dividend. The ex-dividend date was Tuesday, June 10th. This is an increase from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 7.7%. TELUS's payout ratio is 212.28%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TU shares. National Bankshares reiterated a "sector perform" rating on shares of TELUS in a research note on Monday, May 12th. Scotiabank reiterated an "outperform" rating on shares of TELUS in a research note on Tuesday, July 15th. Finally, Canaccord Genuity Group increased their target price on shares of TELUS from $20.25 to $21.50 and gave the stock a "hold" rating in a research note on Monday, May 12th. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.