TELUS Co. (NYSE:TU) Shares Bought by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 132.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 479,785 shares of the Wireless communications provider's stock after purchasing an additional 273,368 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in TELUS were worth $8,048,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of TU. Fairscale Capital LLC acquired a new stake in shares of TELUS in the second quarter valued at approximately $27,000. Blue Trust Inc. increased its stake in shares of TELUS by 60.4% in the 2nd quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider's stock worth $41,000 after acquiring an additional 954 shares during the last quarter. Trust Co. of Vermont raised its holdings in shares of TELUS by 19.0% during the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider's stock worth $128,000 after acquiring an additional 1,218 shares during the period. Acadian Asset Management LLC acquired a new position in shares of TELUS during the 2nd quarter valued at about $123,000. Finally, Unique Wealth Strategies LLC acquired a new position in shares of TELUS during the 2nd quarter valued at about $141,000. Hedge funds and other institutional investors own 49.40% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on TU. StockNews.com cut TELUS from a "hold" rating to a "sell" rating in a report on Thursday, November 21st. Scotiabank raised TELUS from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, October 28th. Finally, Canaccord Genuity Group cut TELUS from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $26.00.

TELUS Stock Up 0.3 %

TU traded up $0.05 on Monday, hitting $15.59. 2,392,615 shares of the company were exchanged, compared to its average volume of 2,316,325. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The company has a market cap of $23.39 billion, a price-to-earnings ratio of 33.17, a price-to-earnings-growth ratio of 2.24 and a beta of 0.75. The firm has a 50-day moving average price of $15.94 and a two-hundred day moving average price of $16.03. TELUS Co. has a twelve month low of $14.63 and a twelve month high of $19.14.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The company had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $3.69 billion. During the same quarter in the previous year, the business posted $0.19 EPS. The firm's revenue was up 1.8% on a year-over-year basis. On average, equities analysts predict that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th will be issued a $0.297 dividend. This represents a $1.19 dividend on an annualized basis and a yield of 7.62%. This is an increase from TELUS's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, December 11th. TELUS's dividend payout ratio is 253.19%.

About TELUS

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.