BNP Paribas Financial Markets boosted its holdings in TELUS Co. (NYSE:TU - Free Report) TSE: T by 76.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 239,792 shares of the Wireless communications provider's stock after buying an additional 103,967 shares during the quarter. BNP Paribas Financial Markets' holdings in TELUS were worth $3,252,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC grew its position 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 purchasing an additional 129,934 shares in the last quarter. Avanza Fonder AB purchased a new position in TELUS during the 4th quarter worth approximately $412,000. Nexus Investment Management ULC grew its position in TELUS by 1.8% during the 4th quarter. Nexus Investment Management ULC now owns 2,225,265 shares of the Wireless communications provider's stock worth $30,103,000 after purchasing an additional 38,450 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in TELUS by 3.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 87,419 shares of the Wireless communications provider's stock worth $1,185,000 after purchasing an additional 2,840 shares in the last quarter. Finally, Avior Wealth Management LLC grew its position in TELUS by 1,756.0% during the 4th 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 in the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.
Analyst Ratings Changes
Several equities analysts have weighed in on the stock. 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. Bank of America cut shares of TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. StockNews.com upgraded shares of TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. National Bankshares reiterated a "sector perform" rating on shares of TELUS in a research report on Monday. Finally, Cormark cut shares of TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, TELUS currently has a consensus rating of "Hold" and a consensus target price of $21.50.
Check Out Our Latest Report on TU
TELUS Trading Up 1.0%
TELUS stock opened at $15.69 on Friday. The company's fifty day simple moving average is $14.80 and its 200-day simple moving average is $14.83. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. TELUS Co. has a 12 month low of $13.24 and a 12 month high of $17.27. The stock has a market cap of $23.75 billion, a P/E ratio of 32.02, a P/E/G ratio of 5.18 and a beta of 0.73.
TELUS Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.2989 per share. This is a boost from TELUS's previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 7.62%. The ex-dividend date is Tuesday, June 10th. 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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