TELUS Co. (NYSE:TU) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC lifted its stake in TELUS Co. (NYSE:TU - Free Report) TSE: T by 29.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,032,404 shares of the Wireless communications provider's stock after acquiring an additional 696,744 shares during the quarter. Geode Capital Management LLC owned 0.20% of TELUS worth $42,389,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in TELUS by 69.2% in the 3rd quarter. Wellington Management Group LLP now owns 256,506 shares of the Wireless communications provider's stock valued at $4,308,000 after acquiring an additional 104,939 shares in the last quarter. Orion Portfolio Solutions LLC grew its holdings in shares of TELUS by 25.6% in the third quarter. Orion Portfolio Solutions LLC now owns 15,270 shares of the Wireless communications provider's stock valued at $256,000 after purchasing an additional 3,110 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of TELUS in the third quarter valued at approximately $1,509,000. Barclays PLC increased its stake in TELUS by 38.5% during the 3rd quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider's stock worth $7,839,000 after buying an additional 129,934 shares during the period. Finally, Tidal Investments LLC acquired a new stake in TELUS during the 3rd quarter worth approximately $320,000. Hedge funds and other institutional investors own 49.40% of the company's stock.

TELUS Stock Up 1.6 %

Shares of TU traded up $0.24 during midday trading on Friday, reaching $15.00. The stock had a trading volume of 2,639,824 shares, compared to its average volume of 2,853,487. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. The company's fifty day simple moving average is $14.87 and its two-hundred day simple moving average is $14.93. The company has a market cap of $22.70 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 5.18 and a beta of 0.70. TELUS Co. has a 1-year low of $13.24 and a 1-year high of $17.27.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The company had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same quarter last year, the company earned $0.10 earnings per share. Equities research analysts expect that TELUS Co. will post 0.71 earnings per share for the current year.

TELUS Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were paid a $0.2829 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.13 annualized dividend and a yield of 7.55%. TELUS's dividend payout ratio is presently 226.53%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TU. Bank of America downgraded shares of TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Cormark cut TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Finally, StockNews.com raised TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold".

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.