Geode Capital Management LLC Boosts Position in TELUS Co. (NYSE:TU)

Geode Capital Management LLC grew its position in TELUS Co. (NYSE:TU - Free Report) TSE: T by 8.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,335,660 shares of the Wireless communications provider's stock after acquiring an additional 177,953 shares during the period. Geode Capital Management LLC owned about 0.16% of TELUS worth $40,238,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. TD Asset Management Inc raised its position in TELUS by 3.0% in the second quarter. TD Asset Management Inc now owns 41,711,861 shares of the Wireless communications provider's stock worth $631,310,000 after acquiring an additional 1,208,720 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of TELUS by 6.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider's stock valued at $578,253,000 after purchasing an additional 2,365,753 shares in the last quarter. National Bank of Canada FI lifted its stake in shares of TELUS by 24.2% in the third quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider's stock valued at $438,922,000 after purchasing an additional 5,094,269 shares during the period. CIBC Asset Management Inc boosted its holdings in TELUS by 1.8% during the second quarter. CIBC Asset Management Inc now owns 22,404,617 shares of the Wireless communications provider's stock worth $338,953,000 after buying an additional 387,686 shares in the last quarter. Finally, Fiera Capital Corp grew its position in TELUS by 1.3% during the third quarter. Fiera Capital Corp now owns 16,882,528 shares of the Wireless communications provider's stock worth $283,854,000 after buying an additional 211,815 shares during the period. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Trading Down 1.3 %

Shares of TELUS stock traded down $0.18 during mid-day trading on Wednesday, hitting $13.57. 3,039,247 shares of the stock were exchanged, compared to its average volume of 2,416,336. The stock has a market capitalization of $20.36 billion, a price-to-earnings ratio of 28.87, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. TELUS Co. has a twelve month low of $13.54 and a twelve month high of $18.55. 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 50-day simple moving average of $15.39 and a 200 day simple moving average of $15.84.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its 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 firm had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $3.69 billion. During the same period in the previous year, the company earned $0.19 EPS. TELUS's revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts forecast that TELUS Co. will post 0.73 EPS for the current year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.297 per share. This is a positive change from TELUS's previous quarterly dividend of $0.28. This represents a $1.19 annualized dividend and a dividend yield of 8.75%. The ex-dividend date of this dividend is Wednesday, December 11th. TELUS's dividend payout ratio is presently 253.19%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on TU shares. National Bank Financial downgraded shares of TELUS from an "outperform" rating to a "sector perform" rating in a research report on Friday, December 13th. Morgan Stanley started coverage on TELUS in a report on Monday, December 16th. They set an "equal weight" rating for the company. Scotiabank raised TELUS from a "sector perform" rating to a "sector outperform" rating in a report on Monday, October 28th. Finally, StockNews.com cut TELUS from a "hold" rating to a "sell" rating in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $26.00.

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.