Burgundy Asset Management Ltd. Buys 34,055 Shares of TELUS Co. (NYSE:TU)

Burgundy Asset Management Ltd. increased its position in TELUS Co. (NYSE:TU - Free Report) TSE: T by 33.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 136,341 shares of the Wireless communications provider's stock after acquiring an additional 34,055 shares during the quarter. Burgundy Asset Management Ltd.'s holdings in TELUS were worth $2,063,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. TD Asset Management Inc increased its stake in shares of 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 purchasing an additional 1,208,720 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in 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 worth $573,606,000 after acquiring an additional 213,385 shares during the period. The Manufacturers Life Insurance Company lifted its stake in 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 worth $511,646,000 after purchasing an additional 3,860,487 shares in the last quarter. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 602,440 shares during the period. Finally, Bank of Nova Scotia grew its position in shares of TELUS by 5.8% during the 4th quarter. Bank of Nova Scotia now owns 22,881,520 shares of the Wireless communications provider's stock valued at $407,205,000 after purchasing an additional 1,250,827 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors.

TELUS Price Performance

Shares of NYSE TU traded up $0.05 during mid-day trading on Thursday, reaching $16.83. 529,322 shares of the company were exchanged, compared to its average volume of 2,260,524. TELUS Co. has a 52 week low of $14.63 and a 52 week high of $19.14. The company's 50 day moving average price is $16.20 and its 200 day moving average price is $16.16. The stock has a market capitalization of $24.84 billion, a PE ratio of 43.03, a PEG ratio of 2.57 and a beta of 0.74. The company has a quick ratio of 0.61, a current ratio of 0.66 and a debt-to-equity ratio of 1.46.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.09. The firm had revenue of $3.64 billion during the quarter, compared to analysts' expectations of $3.70 billion. TELUS had a return on equity of 8.50% and a net margin of 3.87%. During the same period in the prior year, the business earned $0.14 EPS. Sell-side analysts forecast that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.284 per share. This is a boost from TELUS's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date is Tuesday, September 10th. TELUS's dividend payout ratio (DPR) is presently 294.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports 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 cut TELUS from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $27.33.

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.