Vanguard Group Inc. Has $406.22 Million Position in TELUS Co. (NYSE:TU)

Vanguard Group Inc. increased its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,834,015 shares of the Wireless communications provider’s stock after purchasing an additional 1,044,988 shares during the period. Vanguard Group Inc. owned approximately 1.55% of TELUS worth $406,217,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. VisionPoint Advisory Group LLC lifted its holdings in shares of TELUS by 80.8% in the third quarter. VisionPoint Advisory Group LLC now owns 1,654 shares of the Wireless communications provider’s stock valued at $27,000 after purchasing an additional 739 shares in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in TELUS during the 4th quarter worth approximately $33,000. CVA Family Office LLC bought a new position in shares of TELUS during the 4th quarter worth approximately $49,000. CWM LLC lifted its position in shares of TELUS by 104.3% in the fourth quarter. CWM LLC now owns 3,891 shares of the Wireless communications provider’s stock worth $69,000 after purchasing an additional 1,986 shares in the last quarter. Finally, Optiver Holding B.V. boosted its holdings in TELUS by 8,333.0% during the fourth quarter. Optiver Holding B.V. now owns 8,433 shares of the Wireless communications provider’s stock worth $150,000 after purchasing an additional 8,333 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a research note on Friday, June 14th. Scotiabank reissued a “sector perform” rating and set a $26.00 price target (down from $28.00) on shares of TELUS in a research report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.72.

TELUS Trading Down 0.1 %

Shares of NYSE:TU opened at $15.18 on Friday. The company has a 50-day simple moving average of $16.17 and a 200 day simple moving average of $16.93. The company has a market capitalization of $22.41 billion, a P/E ratio of 38.92, a price-to-earnings-growth ratio of 2.25 and a beta of 0.73. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.70 and a current ratio of 0.75. TELUS Co. has a 52-week low of $15.10 and a 52-week high of $19.66.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Thursday, May 9th. The Wireless communications provider reported $0.19 EPS for the quarter, topping the consensus estimate of $0.18 by $0.01. TELUS had a return on equity of 7.90% and a net margin of 3.73%. The company had revenue of $3.66 billion during the quarter, compared to the consensus estimate of $3.73 billion. Sell-side analysts forecast that TELUS Co. will post 0.76 earnings per share for the current year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be paid a dividend of $0.282 per share. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date of this dividend is Monday, June 10th. This is a boost from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio (DPR) is currently 287.18%.

TELUS Company 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.