Principal Financial Group Inc. lessened its stake in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 48.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,504 shares of the Wireless communications provider's stock after selling 76,900 shares during the quarter. Principal Financial Group Inc.'s holdings in TELUS were worth $1,218,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. TD Asset Management Inc lifted its position in TELUS by 18.4% during the fourth quarter. TD Asset Management Inc now owns 40,669,392 shares of the Wireless communications provider's stock valued at $727,275,000 after purchasing an additional 6,334,692 shares during the period. 1832 Asset Management L.P. raised its stake in shares of TELUS by 0.6% during the 1st quarter. 1832 Asset Management L.P. now owns 35,827,980 shares of the Wireless communications provider's stock valued at $573,606,000 after buying an additional 213,385 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of TELUS by 15.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider's stock valued at $511,646,000 after buying an additional 3,860,487 shares during the period. Vanguard Group Inc. lifted its holdings in shares of TELUS by 2.6% in the 1st quarter. Vanguard Group Inc. now owns 23,436,455 shares of the Wireless communications provider's stock valued at $375,218,000 after buying an additional 602,440 shares during the period. Finally, Bank of Nova Scotia boosted its stake in shares of TELUS by 5.8% in the fourth quarter. Bank of Nova Scotia now owns 22,881,520 shares of the Wireless communications provider's stock worth $407,205,000 after buying an additional 1,250,827 shares during the last quarter. 49.40% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of analysts have recently commented on TU shares. StockNews.com upgraded TELUS from a "sell" rating to a "hold" rating in a research report on Friday, September 6th. Canaccord Genuity Group downgraded TELUS from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 6th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $27.33.
Get Our Latest Report on TU
TELUS Trading Down 0.2 %
Shares of TU stock traded down $0.04 on Friday, hitting $16.94. 2,574,246 shares of the stock traded hands, compared to its average volume of 2,278,782. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.61 and a current ratio of 0.66. TELUS Co. has a twelve month low of $14.63 and a twelve month high of $19.14. The firm's 50-day moving average price is $16.11 and its two-hundred day moving average price is $16.19. The stock has a market capitalization of $25.00 billion, a PE ratio of 43.42, a PEG ratio of 2.52 and a beta of 0.74.
TELUS (NYSE:TU - Get Free Report) TSE: T last released its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.16 by $0.09. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.70 billion. TELUS had a net margin of 3.87% and a return on equity of 8.50%. During the same quarter in the previous year, the company earned $0.14 EPS. As a group, analysts anticipate that TELUS Co. will post 0.73 EPS for the current year.
TELUS Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be given a $0.284 dividend. This is a positive change from TELUS's previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, September 10th. This represents a $1.14 dividend on an annualized basis and a yield of 6.71%. TELUS's payout ratio is presently 294.87%.
About TELUS
(
Free Report)
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.
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