Forsta AP Fonden grew its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 11.1% during the 1st quarter, Holdings Channel reports. The fund owned 259,489 shares of the Wireless communications provider’s stock after purchasing an additional 25,900 shares during the period. Forsta AP Fonden’s holdings in TELUS were worth $9,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also added to or reduced their stakes in the company. ARP Americas LP boosted its holdings in TELUS by 2.5% during the fourth quarter. ARP Americas LP now owns 14,433 shares of the Wireless communications provider’s stock worth $479,000 after buying an additional 346 shares in the last quarter. Gluskin Sheff & Assoc Inc. boosted its holdings in TELUS by 5.7% during the fourth quarter. Gluskin Sheff & Assoc Inc. now owns 7,044 shares of the Wireless communications provider’s stock worth $233,000 after buying an additional 380 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in TELUS by 199.7% during the fourth quarter. Proficio Capital Partners LLC now owns 959 shares of the Wireless communications provider’s stock worth $32,000 after buying an additional 639 shares in the last quarter. Advisor Group Inc. lifted its holdings in TELUS by 21.2% during the fourth quarter. Advisor Group Inc. now owns 3,997 shares of the Wireless communications provider’s stock valued at $132,000 after purchasing an additional 699 shares in the last quarter. Finally, Van ECK Associates Corp purchased a new position in TELUS during the fourth quarter valued at $25,000. 51.07% of the stock is currently owned by institutional investors and hedge funds.
TU has been the topic of several recent analyst reports. Bank of America reaffirmed a “hold” rating on shares of TELUS in a report on Friday, May 10th. Royal Bank of Canada reaffirmed a “buy” rating on shares of TELUS in a report on Tuesday, April 9th. Echelon Wealth Partners reaffirmed a “buy” rating on shares of TELUS in a report on Friday, February 15th. Canaccord Genuity reaffirmed a “buy” rating on shares of TELUS in a report on Friday, February 15th. Finally, Zacks Investment Research downgraded shares of TELUS from a “hold” rating to a “sell” rating in a report on Monday, January 28th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $41.00.
TU opened at $36.66 on Monday. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 1.39. The firm has a market cap of $21.95 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.08 and a beta of 0.83. TELUS Co. has a 52-week low of $32.46 and a 52-week high of $37.84.
TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Thursday, May 9th. The Wireless communications provider reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.01. The business had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.52 billion. TELUS had a net margin of 11.15% and a return on equity of 16.98%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share. On average, research analysts anticipate that TELUS Co. will post 2.2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be given a $0.4191 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.57%. This is a boost from TELUS’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, June 7th. TELUS’s dividend payout ratio is 77.10%.
TELUS Company Profile
TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.
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