1832 Asset Management L.P. Boosts Holdings in TELUS Co. (NYSE:TU)

1832 Asset Management L.P. lifted its stake in TELUS Co. (NYSE:TU) (TSE:T) by 6.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,193,733 shares of the Wireless communications provider’s stock after purchasing an additional 2,365,753 shares during the quarter. TELUS accounts for approximately 0.5% of 1832 Asset Management L.P.’s holdings, making the stock its 21st biggest position. 1832 Asset Management L.P. owned approximately 2.59% of TELUS worth $578,253,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of TU. Capital Research Global Investors raised its position in shares of TELUS by 215.8% in the 4th quarter. Capital Research Global Investors now owns 22,214,210 shares of the Wireless communications provider’s stock worth $395,314,000 after purchasing an additional 15,179,110 shares during the last quarter. TD Asset Management Inc raised its position in shares of TELUS by 18.4% in the 4th quarter. TD Asset Management Inc now owns 40,669,392 shares of the Wireless communications provider’s stock worth $727,275,000 after purchasing an additional 6,334,692 shares during the last quarter. Norges Bank purchased a new position in shares of TELUS in the 4th quarter worth about $82,775,000. The Manufacturers Life Insurance Company raised its position in shares of TELUS by 15.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider’s stock worth $511,646,000 after purchasing an additional 3,860,487 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in TELUS by 81.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,798,166 shares of the Wireless communications provider’s stock worth $67,569,000 after buying an additional 1,704,788 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TU. 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $27.33.

TELUS Trading Down 0.7 %

TELUS stock opened at $16.74 on Friday. The business has a 50-day simple moving average of $16.25 and a two-hundred day simple moving average of $16.16. The company has a market cap of $24.71 billion, a P/E ratio of 42.92, a P/E/G ratio of 2.57 and a beta of 0.74. TELUS Co. has a 52-week low of $14.63 and a 52-week high of $19.14. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.46.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.70 billion. TELUS had a return on equity of 8.50% and a net margin of 3.87%. During the same period in the previous year, the company posted $0.14 EPS. Analysts predict 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. Shareholders 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. This represents a $1.14 dividend on an annualized basis and a dividend yield of 6.79%. The ex-dividend date is Tuesday, September 10th. TELUS’s payout ratio is currently 294.87%.

TELUS 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.