Leo Wealth LLC Invests $279,000 in TELUS Co. (NYSE:TU)

Leo Wealth LLC purchased a new stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,570 shares of the Wireless communications provider's stock, valued at approximately $279,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Bank of Canada FI boosted its position in TELUS by 24.2% in the 3rd 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 buying an additional 5,094,269 shares during the last quarter. Fiera Capital Corp lifted its stake in shares of TELUS by 1.3% during the third quarter. Fiera Capital Corp now owns 16,882,528 shares of the Wireless communications provider's stock valued at $283,854,000 after acquiring an additional 211,815 shares during the period. Janus Henderson Group PLC boosted its holdings in TELUS by 0.7% in the third 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 during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. increased its position in TELUS by 8.9% in the third 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 during the period. Finally, Duff & Phelps Investment Management Co. raised its holdings in TELUS by 13.5% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider's stock worth $44,785,000 after purchasing an additional 317,000 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Trading Up 0.5 %

Shares of TU traded up $0.08 during trading hours on Tuesday, reaching $14.57. The stock had a trading volume of 3,670,204 shares, compared to its average volume of 3,830,434. The company has a market cap of $21.85 billion, a P/E ratio of 30.99, a P/E/G ratio of 4.85 and a beta of 0.75. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $18.16. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 1.50. The firm has a 50-day moving average of $14.27 and a 200 day moving average of $15.47.

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

Analyst Ratings Changes

A number of analysts have commented on the stock. StockNews.com raised shares of TELUS from a "sell" rating to a "hold" rating in a report on Monday. Scotiabank upgraded TELUS from a "sector perform" rating to a "sector outperform" rating in a report on Monday, October 28th. National Bank Financial lowered TELUS from an "outperform" rating to a "sector perform" rating in a research note on Friday, December 13th. Finally, Morgan Stanley began coverage on TELUS in a research report on Monday, December 16th. They set an "equal weight" rating for the company. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $26.00.

TELUS 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.