Letko Brosseau & Associates Inc. boosted its holdings in TELUS Co. (NYSE:TU - Free Report) TSE: T by 2.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,531,717 shares of the Wireless communications provider's stock after buying an additional 159,359 shares during the quarter. TELUS makes up about 1.7% of Letko Brosseau & Associates Inc.'s holdings, making the stock its 20th largest position. Letko Brosseau & Associates Inc. owned 0.44% of TELUS worth $88,516,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the business. Avior Wealth Management LLC lifted its position in TELUS by 1,756.0% in the fourth quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock valued at $65,000 after acquiring an additional 4,548 shares during the last quarter. Optiver Holding B.V. acquired a new stake in shares of TELUS during the fourth quarter worth about $120,000. Blueshift Asset Management LLC purchased a new stake in shares of TELUS in the 4th quarter valued at about $142,000. Triasima Portfolio Management inc. acquired a new stake in shares of TELUS in the 4th quarter valued at about $146,000. Finally, Legal & General Group Plc purchased a new position in TELUS during the 4th quarter worth approximately $190,000. Hedge funds and other institutional investors own 49.40% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on TU. StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. National Bankshares reiterated a "sector perform" rating on shares of TELUS in a research note on Monday. Bank of America lowered shares of TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Cormark downgraded shares of TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, Canaccord Genuity Group boosted their price target on TELUS from $20.25 to $21.50 and gave the company a "hold" rating in a research report on Monday. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $21.50.
Read Our Latest Stock Analysis on TU
TELUS Stock Performance
Shares of TU stock traded up $0.16 during mid-day trading on Thursday, hitting $15.69. The stock had a trading volume of 2,992,708 shares, compared to its average volume of 2,909,132. The firm has a market cap of $23.75 billion, a PE ratio of 32.02, a PEG ratio of 5.18 and a beta of 0.73. The company's 50-day simple moving average is $14.81 and its 200-day simple moving average is $14.83. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. TELUS Co. has a fifty-two week low of $13.24 and a fifty-two week high of $17.27.
TELUS Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Tuesday, June 10th will be issued a $0.2989 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 7.62%. The ex-dividend date is Tuesday, June 10th. This is a positive change from TELUS's previous quarterly dividend of $0.28. TELUS's payout ratio is currently 234.69%.
About TELUS
(
Free Report)
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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