The Manufacturers Life Insurance Company boosted its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 8.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,102,714 shares of the Wireless communications provider's stock after acquiring an additional 459,112 shares during the period. The Manufacturers Life Insurance Company owned 0.41% of TELUS worth $82,855,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Versant Capital Management Inc increased its position in shares of 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 period. Avior Wealth Management LLC increased its holdings in TELUS by 1,756.0% in the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock valued at $65,000 after buying an additional 4,548 shares during the period. Optiver Holding B.V. acquired a new position in shares of TELUS in the 4th quarter valued at approximately $120,000. Blueshift Asset Management LLC bought a new stake in shares of TELUS during the 4th quarter worth approximately $142,000. Finally, Triasima Portfolio Management inc. acquired a new stake in shares of TELUS during the 4th quarter worth approximately $146,000. 49.40% of the stock is currently owned by institutional investors.
TELUS Price Performance
Shares of NYSE TU traded down $0.21 during midday trading on Friday, reaching $15.02. 3,011,972 shares of the company were exchanged, compared to its average volume of 2,862,172. The stock's 50-day moving average price is $14.82 and its 200-day moving average price is $14.87. The stock has a market cap of $22.74 billion, a P/E ratio of 30.65, a PEG ratio of 5.18 and a beta of 0.70. 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 one year low of $13.24 and a one year high of $17.27.
TELUS (NYSE:TU - Get Free Report) TSE: T last issued 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 business had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.64 billion. TELUS had a return on equity of 9.07% and a net margin of 4.85%. During the same quarter in the previous year, the company posted $0.10 EPS. On average, sell-side analysts anticipate that TELUS Co. will post 0.71 earnings per share for the current fiscal year.
TELUS Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were issued a $0.2829 dividend. The ex-dividend date was Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a yield of 7.53%. TELUS's dividend payout ratio (DPR) is presently 226.53%.
Analysts Set New Price Targets
TU has been the subject of several research analyst reports. Cormark downgraded shares of TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. StockNews.com raised TELUS from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Finally, Bank of America lowered TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, TELUS presently has a consensus rating of "Hold".
Read Our Latest Research Report on TU
TELUS Company Profile
(
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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