Swiss National Bank boosted its stake in TELUS Co. (NYSE:TU) (TSE:T) by 2.0% during the 1st quarter, HoldingsChannel reports. The firm owned 700,700 shares of the Wireless communications provider’s stock after buying an additional 13,900 shares during the quarter. Swiss National Bank’s holdings in TELUS were worth $25,942,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in TU. Mawer Investment Management Ltd. lifted its stake in TELUS by 28.7% in the 4th quarter. Mawer Investment Management Ltd. now owns 8,928,454 shares of the Wireless communications provider’s stock worth $297,828,000 after purchasing an additional 1,989,136 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of TELUS in the 1st quarter worth about $88,907,000. Norges Bank bought a new stake in shares of TELUS in the 4th quarter worth about $53,228,000. Reaves W H & Co. Inc. increased its holdings in shares of TELUS by 293.9% in the 1st quarter. Reaves W H & Co. Inc. now owns 1,919,275 shares of the Wireless communications provider’s stock worth $71,060,000 after buying an additional 1,432,053 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of TELUS by 11.7% in the 1st quarter. CIBC Asset Management Inc now owns 13,108,240 shares of the Wireless communications provider’s stock worth $485,148,000 after buying an additional 1,377,720 shares during the last quarter. Institutional investors and hedge funds own 51.58% of the company’s stock.
A number of research firms have recently weighed in on TU. Zacks Investment Research downgraded shares of TELUS from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. Royal Bank of Canada restated a “buy” rating on shares of TELUS in a report on Tuesday, April 9th. Barclays restated a “buy” rating and issued a $41.00 target price on shares of TELUS in a report on Sunday, May 12th. TheStreet upgraded shares of TELUS from a “c+” rating to a “b-” rating in a report on Thursday, April 4th. Finally, Echelon Wealth Partners restated a “buy” rating on shares of TELUS in a report on Friday, February 15th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $41.00.
TELUS stock opened at $37.68 on Friday. TELUS Co. has a twelve month low of $32.46 and a twelve month high of $38.29. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.70 and a current ratio of 0.77. The stock has a market capitalization of $22.56 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 2.14 and a beta of 0.76.
TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, May 9th. The Wireless communications provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. TELUS had a net margin of 11.15% and a return on equity of 16.98%. The firm had revenue of $3.51 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the previous year, the firm posted $0.69 EPS. The business’s quarterly revenue was up 3.8% on a year-over-year basis. On average, equities analysts forecast 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 issued a $0.4191 dividend. The ex-dividend date of this dividend is Friday, June 7th. This is an increase from TELUS’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.45%. TELUS’s payout ratio is 77.10%.
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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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