Shell Asset Management Co. Purchases 2,200 Shares of TELUS Co. (TU)

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Shell Asset Management Co. lifted its stake in TELUS Co. (NYSE:TU) (TSE:T) by 1.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 164,932 shares of the Wireless communications provider’s stock after acquiring an additional 2,200 shares during the period. Shell Asset Management Co.’s holdings in TELUS were worth $6,106,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Raymond James Trust N.A. grew its holdings in shares of TELUS by 16.9% during the 4th quarter. Raymond James Trust N.A. now owns 9,673 shares of the Wireless communications provider’s stock worth $320,000 after purchasing an additional 1,400 shares in the last quarter. Albion Financial Group UT bought a new stake in TELUS in the fourth quarter valued at about $215,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in TELUS by 3.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,379,276 shares of the Wireless communications provider’s stock valued at $145,089,000 after purchasing an additional 132,558 shares during the last quarter. Enlightenment Research LLC bought a new stake in TELUS in the fourth quarter valued at about $60,000. Finally, Forsta AP Fonden increased its holdings in TELUS by 11.1% in the first quarter. Forsta AP Fonden now owns 259,489 shares of the Wireless communications provider’s stock valued at $9,611,000 after purchasing an additional 25,900 shares during the last quarter. 51.32% of the stock is currently owned by institutional investors and hedge funds.

NYSE:TU traded down $0.05 on Friday, reaching $37.42. The company’s stock had a trading volume of 23,471 shares, compared to its average volume of 386,460. TELUS Co. has a 1-year low of $32.46 and a 1-year high of $37.84. 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 stock has a market cap of $22.26 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 2.11 and a beta of 0.83.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, May 9th. The Wireless communications provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.01. TELUS had a return on equity of 16.98% and a net margin of 11.15%. The firm had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. Sell-side analysts forecast that TELUS Co. will post 2.2 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 10th will be paid a $0.4191 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 4.48%. This is a boost from TELUS’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Friday, June 7th. TELUS’s payout ratio is presently 77.10%.

A number of research analysts have issued reports on the company. Bank of America reissued a “hold” rating on shares of TELUS in a research note on Friday, May 10th. Royal Bank of Canada reissued a “buy” rating on shares of TELUS in a research note on Tuesday, April 9th. Echelon Wealth Partners reissued a “buy” rating on shares of TELUS in a research note on Friday, February 15th. Canaccord Genuity reissued a “buy” rating on shares of TELUS in a research note on Friday, February 15th. Finally, Zacks Investment Research cut TELUS from a “hold” rating to a “sell” rating in a research note on Monday, January 28th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $41.00.

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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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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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