Massachusetts Financial Services Co. MA Acquires 2,571 Shares of TELUS Co. (NYSE:TU)

Massachusetts Financial Services Co. MA grew its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 0.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,783,173 shares of the Wireless communications provider’s stock after buying an additional 2,571 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.12% of TELUS worth $26,997,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Ontario Teachers Pension Plan Board acquired a new position in shares of TELUS during the fourth quarter worth approximately $1,100,000. Canada Pension Plan Investment Board raised its position in TELUS by 11.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,252,092 shares of the Wireless communications provider’s stock valued at $20,050,000 after buying an additional 126,488 shares during the last quarter. Vanguard Group Inc. raised its position in TELUS by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 22,834,015 shares of the Wireless communications provider’s stock valued at $406,217,000 after buying an additional 1,044,988 shares during the last quarter. Van ECK Associates Corp purchased a new stake in TELUS in the 1st quarter valued at $1,991,000. Finally, Virtu Financial LLC purchased a new stake in TELUS in the 4th quarter valued at $376,000. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Trading Down 0.7 %

Shares of TELUS stock opened at $16.74 on Friday. TELUS Co. has a 1 year low of $14.63 and a 1 year high of $19.14. The firm has a market cap of $24.71 billion, a PE ratio of 42.92, a P/E/G ratio of 2.57 and a beta of 0.74. The stock has a fifty day moving average price of $16.25 and a 200-day moving average price of $16.16. 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 (NYSE:TU) (TSE:T) last announced its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.09. TELUS had a return on equity of 8.50% and a net margin of 3.87%. The firm had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period last year, the firm posted $0.14 EPS. Equities research analysts anticipate that TELUS Co. will post 0.73 EPS for the current year.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.284 per share. This is an increase from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $1.14 annualized dividend and a dividend yield of 6.79%. TELUS’s dividend payout ratio is presently 294.87%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Canaccord Genuity Group lowered TELUS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $27.33.

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.