Groesbeck Investment Management Corp NJ Acquires Shares of 24,420 TELUS Co. (NYSE:TU)

Groesbeck Investment Management Corp NJ acquired a new stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 24,420 shares of the Wireless communications provider's stock, valued at approximately $331,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. National Bank of Canada FI raised its position in shares of TELUS by 24.2% during the 3rd quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider's stock worth $438,922,000 after buying an additional 5,094,269 shares in the last quarter. Fiera Capital Corp increased its holdings in shares of TELUS by 1.3% in the 3rd quarter. Fiera Capital Corp now owns 16,882,528 shares of the Wireless communications provider's stock valued at $283,854,000 after purchasing an additional 211,815 shares during the period. Janus Henderson Group PLC grew its holdings in shares of TELUS by 0.7% during the 3rd quarter. Janus Henderson Group PLC now owns 6,701,819 shares of the Wireless communications provider's stock valued at $112,610,000 after acquiring an additional 49,088 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in shares of TELUS by 8.9% during the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,233,944 shares of the Wireless communications provider's stock worth $54,249,000 after purchasing an additional 263,774 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its position in TELUS by 13.5% in the third quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider's stock worth $44,785,000 after acquiring an additional 317,000 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Price Performance

TELUS stock traded down $0.20 during trading hours on Friday, hitting $14.40. 4,074,941 shares of the stock were exchanged, compared to its average volume of 3,797,593. The stock has a market capitalization of $21.60 billion, a P/E ratio of 30.64, a P/E/G ratio of 4.85 and a beta of 0.75. The business's 50-day moving average is $14.30 and its two-hundred day moving average is $15.48. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.69. TELUS Co. has a 12 month low of $13.24 and a 12 month high of $18.16.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings data on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.11. The firm had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $3.69 billion. TELUS had a net margin of 4.56% and a return on equity of 8.80%. TELUS's revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 EPS. Equities research analysts expect that TELUS Co. will post 0.72 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on TU. National Bank Financial lowered TELUS from an "outperform" rating to a "sector perform" rating in a report on Friday, December 13th. Morgan Stanley started coverage on shares of TELUS in a report on Monday, December 16th. They set an "equal weight" rating for the company. StockNews.com downgraded shares of TELUS from a "hold" rating to a "sell" rating in a report on Thursday, November 21st. Finally, Scotiabank raised TELUS from a "sector perform" rating to a "sector outperform" rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, TELUS currently has an average rating of "Hold" and a consensus 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.