TELUS Co. (NYSE:TU) Position Boosted by Burgundy Asset Management Ltd.

Burgundy Asset Management Ltd. increased its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 33.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,341 shares of the Wireless communications provider’s stock after buying an additional 34,055 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in TELUS were worth $2,063,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in TU. Jump Financial LLC bought a new position in TELUS in the 4th quarter worth approximately $422,000. Norges Bank bought a new position in TELUS in the 4th quarter worth approximately $82,775,000. PNC Financial Services Group Inc. grew its holdings in TELUS by 57.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 17,049 shares of the Wireless communications provider’s stock worth $303,000 after buying an additional 6,211 shares in the last quarter. Balentine LLC grew its holdings in TELUS by 18.8% in the 4th quarter. Balentine LLC now owns 13,737 shares of the Wireless communications provider’s stock worth $246,000 after buying an additional 2,176 shares in the last quarter. Finally, Clearbridge Investments LLC bought a new position in TELUS in the 4th quarter worth approximately $109,327,000. 49.40% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TU shares. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Canaccord Genuity Group downgraded TELUS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $27.33.

TELUS Stock Performance

TU opened at $16.78 on Thursday. The company has a market capitalization of $24.77 billion, a price-to-earnings ratio of 43.03, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.61. TELUS Co. has a 1-year low of $14.63 and a 1-year high of $19.14. The business has a 50 day moving average price of $16.20 and a two-hundred day moving average price of $16.16.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. TELUS had a return on equity of 8.50% and a net margin of 3.87%. The company had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter in the prior year, the firm earned $0.14 EPS. Research analysts predict that TELUS Co. will post 0.73 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be given a dividend of $0.284 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.77%. The ex-dividend date of this dividend is Tuesday, September 10th. This is an increase from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio is 294.87%.

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.