Bank of Nova Scotia lifted its position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 28.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,219,141 shares of the Wireless communications provider's stock after purchasing an additional 6,659,564 shares during the period. TELUS comprises about 0.8% of Bank of Nova Scotia's holdings, making the stock its 22nd largest position. Bank of Nova Scotia owned 2.01% of TELUS worth $409,662,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in shares of TELUS by 195,100.0% in the fourth quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider's stock valued at $26,000 after acquiring an additional 1,951 shares during the period. Avior Wealth Management LLC lifted its position in TELUS by 1,756.0% during the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock worth $65,000 after acquiring an additional 4,548 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of TELUS in the 4th quarter valued at approximately $142,000. Triasima Portfolio Management inc. acquired a new position in shares of TELUS in the fourth quarter valued at approximately $146,000. Finally, Legal & General Group Plc acquired a new position in shares of TELUS in the fourth quarter valued at approximately $190,000. 49.40% of the stock is owned by hedge funds and other institutional investors.
TELUS Price Performance
TU traded up $0.15 on Friday, hitting $14.57. 4,639,881 shares of the company were exchanged, compared to its average volume of 2,852,454. TELUS Co. has a fifty-two week low of $13.24 and a fifty-two week high of $17.27. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The firm has a market capitalization of $22.05 billion, a P/E ratio of 29.72, a price-to-earnings-growth ratio of 5.18 and a beta of 0.70. The business's fifty day moving average is $14.83 and its 200 day moving average is $14.99.
TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.02. The business had revenue of $3.85 billion for the quarter, compared to analysts' expectations of $3.64 billion. TELUS had a return on equity of 9.07% and a net margin of 4.85%. During the same quarter in the prior year, the firm posted $0.10 EPS. As a group, sell-side analysts anticipate that TELUS Co. will post 0.71 EPS for the current year.
TELUS Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were given a $0.2829 dividend. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.13 annualized dividend and a dividend yield of 7.77%. TELUS's dividend payout ratio is presently 226.53%.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on TU shares. Morgan Stanley initiated coverage on shares of TELUS in a research report on Monday, December 16th. They issued an "equal weight" rating on the stock. Cormark lowered shares of TELUS from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, March 4th. StockNews.com upgraded shares of TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Finally, Bank of America cut TELUS from a "buy" rating to a "neutral" rating in a research report on Friday, March 21st. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, TELUS presently has a consensus rating of "Hold".
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About TELUS
(
Free Report)
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.
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