Tobam Increases Position in TELUS Co. (NYSE:TU)

Tobam lifted its position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 451.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,515 shares of the Wireless communications provider's stock after buying an additional 47,909 shares during the period. Tobam's holdings in TELUS were worth $982,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Fairscale Capital LLC bought a new stake in shares of TELUS in the 2nd quarter worth approximately $27,000. Blue Trust Inc. lifted its position in TELUS by 60.4% during the second quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider's stock valued at $41,000 after purchasing an additional 954 shares during the period. Gulf International Bank UK Ltd boosted its holdings in TELUS by 39.8% in the first quarter. Gulf International Bank UK Ltd now owns 2,752 shares of the Wireless communications provider's stock worth $44,000 after purchasing an additional 784 shares during the last quarter. UniSuper Management Pty Ltd purchased a new stake in TELUS during the 1st quarter valued at $58,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new position in shares of TELUS during the 1st quarter valued at $71,000. Hedge funds and other institutional investors own 49.40% of the company's stock.

Wall Street Analysts Forecast Growth

TU has been the topic of several recent research reports. StockNews.com upgraded shares of TELUS from a "sell" rating to a "hold" rating in a research note 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 given a buy rating to the company. According to data from MarketBeat, TELUS has an average rating of "Hold" and a consensus price target of $26.00.

TELUS Price Performance

TU stock traded down $0.07 during midday trading on Thursday, hitting $16.07. The company's stock had a trading volume of 2,116,944 shares, compared to its average volume of 2,242,486. The company has a 50 day moving average of $16.43 and a two-hundred day moving average of $16.13. TELUS Co. has a 12 month low of $14.63 and a 12 month high of $19.14. The firm has a market capitalization of $23.72 billion, a price-to-earnings ratio of 41.03, a price-to-earnings-growth ratio of 2.49 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 for the quarter, beating analysts' consensus estimates of $0.16 by $0.09. The business had revenue of $3.64 billion for the quarter, compared to analysts' expectations 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 business posted $0.14 earnings per share. On average, analysts expect that TELUS Co. will post 0.73 EPS for the current year.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were issued a dividend of $0.284 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.14 dividend on an annualized basis and a yield of 7.07%. This is a positive change from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio is currently 294.87%.

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.