Gotham Asset Management LLC Acquires 90,580 Shares of TELUS Co. (NYSE:TU)

Gotham Asset Management LLC boosted its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 117.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,781 shares of the Wireless communications provider's stock after purchasing an additional 90,580 shares during the quarter. Gotham Asset Management LLC's holdings in TELUS were worth $2,275,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TU. Barclays PLC raised its position in TELUS by 38.5% in the 3rd quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider's stock worth $7,839,000 after purchasing an additional 129,934 shares during the last quarter. Avanza Fonder AB bought a new stake in TELUS during the 4th quarter worth about $412,000. Nexus Investment Management ULC increased its holdings in TELUS by 1.8% during the fourth quarter. Nexus Investment Management ULC now owns 2,225,265 shares of the Wireless communications provider's stock worth $30,103,000 after buying an additional 38,450 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in TELUS by 3.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 87,419 shares of the Wireless communications provider's stock valued at $1,185,000 after buying an additional 2,840 shares during the period. Finally, Avior Wealth Management LLC boosted its position in TELUS by 1,756.0% during the fourth quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock worth $65,000 after purchasing an additional 4,548 shares during the period. Institutional investors own 49.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. National Bankshares restated a "sector perform" rating on shares of TELUS in a report on Monday, May 12th. StockNews.com raised shares of TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Canaccord Genuity Group lifted their target price 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. Finally, Bank of America cut shares of TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Eight analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $21.50.

TELUS Stock Performance

Shares of NYSE TU traded up $0.07 during mid-day trading on Wednesday, hitting $16.02. The company had a trading volume of 374,770 shares, compared to its average volume of 2,901,623. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. TELUS Co. has a 1 year low of $13.24 and a 1 year high of $17.27. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 32.70, a P/E/G ratio of 5.18 and a beta of 0.73. The stock's 50-day moving average price is $14.84 and its 200-day moving average price is $14.82.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th will be given a $0.2989 dividend. This is a positive change from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.47%. The ex-dividend date of this dividend is Tuesday, June 10th. TELUS's dividend payout ratio (DPR) is 201.75%.

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.