TELUS Co. (NYSE:TU) Shares Purchased by Forsta AP Fonden

Forsta AP Fonden lifted its holdings in TELUS Co. (NYSE:TU - Free Report) TSE: T by 11.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 351,700 shares of the Wireless communications provider's stock after acquiring an additional 34,900 shares during the period. Forsta AP Fonden's holdings in TELUS were worth $5,902,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. TD Asset Management Inc raised its stake in shares of TELUS by 3.0% during the 2nd 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 during the period. 1832 Asset Management L.P. grew its stake in shares of TELUS by 6.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider's stock valued at $578,253,000 after acquiring an additional 2,365,753 shares during the period. Vanguard Group Inc. raised its holdings in shares of TELUS by 2.6% during the 1st quarter. Vanguard Group Inc. now owns 23,436,455 shares of the Wireless communications provider's stock worth $375,218,000 after acquiring an additional 602,440 shares in the last quarter. CIBC Asset Management Inc grew its position in TELUS by 1.8% in the 2nd quarter. CIBC Asset Management Inc now owns 22,404,617 shares of the Wireless communications provider's stock valued at $338,953,000 after acquiring an additional 387,686 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of TELUS by 7.2% during the 1st quarter. National Bank of Canada FI now owns 21,461,769 shares of the Wireless communications provider's stock worth $345,330,000 after purchasing an additional 1,438,904 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Stock Performance

Shares of NYSE:TU traded down $0.11 during trading on Tuesday, hitting $16.04. The company's stock had a trading volume of 3,889,251 shares, compared to its average volume of 2,227,162. TELUS Co. has a 12 month low of $14.63 and a 12 month high of $19.14. The firm has a market cap of $23.92 billion, a price-to-earnings ratio of 40.09, a P/E/G ratio of 2.42 and a beta of 0.74. The company has a 50-day moving average of $16.40 and a 200-day moving average of $16.14. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.61.

TELUS (NYSE:TU - Get Free Report) TSE: T last released its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.09. TELUS had a return on equity of 8.50% and a net margin of 3.87%. The business had revenue of $3.64 billion during the quarter, compared to the consensus estimate of $3.70 billion. During the same period last year, the company earned $0.14 earnings per share. On average, sell-side analysts expect that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders 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 is a boost from TELUS's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 7.08%. TELUS's dividend payout ratio is currently 287.50%.

Wall Street Analyst Weigh In

TU has been the subject of several research reports. StockNews.com raised TELUS from a "sell" rating to a "hold" rating in a report on Friday, September 6th. Scotiabank raised shares of TELUS from a "sector perform" rating to a "sector outperform" rating in a research note on Monday. Finally, Canaccord Genuity Group cut shares of TELUS from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $26.00.

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.