Bank of New York Mellon Corp Has $6.32 Million Stock Holdings in TELUS Co. (NYSE:TU)

Bank of New York Mellon Corp boosted its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 466,034 shares of the Wireless communications provider’s stock after purchasing an additional 15,025 shares during the period. Bank of New York Mellon Corp’s holdings in TELUS were worth $6,319,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Public Sector Pension Investment Board lifted its position in shares of TELUS by 2.0% in the third quarter. Public Sector Pension Investment Board now owns 77,198 shares of the Wireless communications provider’s stock worth $1,297,000 after buying an additional 1,500 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of TELUS by 195,100.0% in the 4th quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider’s stock worth $26,000 after acquiring an additional 1,951 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in shares of TELUS by 0.5% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 449,777 shares of the Wireless communications provider’s stock worth $7,547,000 after acquiring an additional 2,196 shares in the last quarter. Crossmark Global Holdings Inc. lifted its holdings in TELUS by 3.4% during the 4th quarter. Crossmark Global Holdings Inc. now owns 87,419 shares of the Wireless communications provider’s stock worth $1,185,000 after buying an additional 2,840 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in TELUS by 7.5% during the 3rd quarter. Cerity Partners LLC now owns 42,341 shares of the Wireless communications provider’s stock worth $710,000 after buying an additional 2,964 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Morgan Stanley initiated coverage on shares of TELUS in a research report on Monday, December 16th. They set an “equal weight” rating for the company. Cormark cut TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. National Bank Financial downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 13th. Finally, StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.00.

TELUS Stock Down 0.0 %

Shares of TU opened at $15.00 on Monday. TELUS Co. has a 12 month low of $13.24 and a 12 month high of $17.27. The firm’s 50 day moving average is $14.76 and its 200-day moving average is $15.34. The stock has a market capitalization of $22.70 billion, a PE ratio of 30.60, a P/E/G ratio of 5.18 and a beta of 0.72. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share (EPS) 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 period last year, the firm posted $0.10 earnings per share. Equities research analysts forecast that TELUS Co. will post 0.71 EPS for the current year.

TELUS Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.2829 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.55%. TELUS’s dividend payout ratio (DPR) is presently 226.53%.

About TELUS

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.