Tower Research Capital LLC TRC Raises Stock Position in TELUS Co. (NYSE:TU)

Tower Research Capital LLC TRC grew its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 477.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,268 shares of the Wireless communications provider's stock after buying an additional 36,598 shares during the period. Tower Research Capital LLC TRC's holdings in TELUS were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Versant Capital Management Inc increased its position in TELUS by 195,100.0% in the fourth quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider's stock worth $26,000 after purchasing an additional 1,951 shares during the last quarter. Avior Wealth Management LLC increased 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 worth $65,000 after purchasing an additional 4,548 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in TELUS in the fourth quarter worth $142,000. Triasima Portfolio Management inc. bought a new stake in TELUS in the fourth quarter worth $146,000. Finally, Legal & General Group Plc bought a new stake in TELUS in the fourth quarter worth $190,000. Institutional investors own 49.40% of the company's stock.

TELUS Trading Down 0.9 %

TU stock traded down $0.15 during mid-day trading on Thursday, reaching $15.24. 3,068,222 shares of the stock traded hands, compared to its average volume of 2,856,951. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. TELUS Co. has a one year low of $13.24 and a one year high of $17.27. The stock has a market capitalization of $23.07 billion, a PE ratio of 31.09, a PEG ratio of 5.18 and a beta of 0.70. The business has a 50-day moving average price of $14.85 and a two-hundred day moving average price of $14.88.

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

TELUS Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were issued a dividend of $0.2829 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a yield of 7.43%. TELUS's payout ratio is 226.53%.

Analysts Set New Price Targets

TU has been the topic of several research reports. Cormark cut shares of TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Bank of America cut shares of TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. Finally, StockNews.com upgraded shares of TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold".

TELUS Profile

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.