Headlands Technologies LLC Purchases Shares of 27,570 TELUS Co. (NYSE:TU)

Headlands Technologies LLC acquired a new stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 27,570 shares of the Wireless communications provider's stock, valued at approximately $374,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc lifted its stake in TELUS by 195,100.0% in the 4th quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider's stock worth $26,000 after acquiring an additional 1,951 shares in the last quarter. Avior Wealth Management LLC lifted its position in shares of TELUS by 1,756.0% in the fourth quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock worth $65,000 after purchasing an additional 4,548 shares in the last quarter. Blueshift Asset Management LLC acquired a new stake in shares of TELUS during the fourth quarter worth approximately $142,000. Triasima Portfolio Management inc. purchased a new position in TELUS during the fourth quarter valued at approximately $146,000. Finally, Orion Portfolio Solutions LLC increased its stake in TELUS by 25.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 15,270 shares of the Wireless communications provider's stock valued at $256,000 after buying an additional 3,110 shares during the period. 49.40% of the stock is currently owned by institutional investors and hedge funds.

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TELUS Stock Up 2.0 %

Shares of TU traded up $0.27 during trading hours on Wednesday, hitting $14.09. 6,863,393 shares of the company were exchanged, compared to its average volume of 2,814,085. The firm's 50 day moving average is $14.84 and its 200-day moving average is $15.03. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $17.27. The company has a market cap of $21.33 billion, a PE ratio of 28.76, a PEG ratio of 5.18 and a beta of 0.70.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its quarterly earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. TELUS had a return on equity of 9.07% and a net margin of 4.85%. The company had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same quarter last year, the company posted $0.10 earnings per share. On average, equities research analysts forecast that TELUS Co. will post 0.71 EPS for the current fiscal year.

TELUS Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.2829 per share. This represents a $1.13 dividend on an annualized basis and a yield of 8.03%. The ex-dividend date of this dividend was Tuesday, March 11th. TELUS's dividend payout ratio (DPR) is 226.53%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. National Bank Financial cut shares of TELUS from an "outperform" rating to a "sector perform" rating in a report on Friday, December 13th. Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Morgan Stanley initiated coverage on TELUS in a research note on Monday, December 16th. They set an "equal weight" rating for the company. StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a report on Monday, February 10th. Finally, Bank of America cut shares of TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold".

TELUS Company Profile

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.