Ossiam Boosts Position in TELUS Co. (NYSE:TU)

Ossiam raised its holdings in TELUS Co. (NYSE:TU - Free Report) TSE: T by 88.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 271,801 shares of the Wireless communications provider's stock after buying an additional 127,498 shares during the quarter. Ossiam's holdings in TELUS were worth $3,683,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Nova Scotia grew its stake in shares of TELUS by 28.3% during the 4th quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider's stock worth $409,662,000 after purchasing an additional 6,659,564 shares during the period. Norges Bank acquired a new position in shares of TELUS in the fourth quarter worth about $70,212,000. Mufg Securities Canada LTD. boosted its stake in shares of TELUS by 68.9% during the 4th quarter. Mufg Securities Canada LTD. now owns 2,236,163 shares of the Wireless communications provider's stock worth $30,299,000 after acquiring an additional 912,277 shares in the last quarter. Vanguard Group Inc. grew its position in shares of TELUS by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider's stock valued at $349,841,000 after acquiring an additional 903,921 shares during the period. Finally, Guardian Partners Inc. purchased a new position in shares of TELUS in the 4th quarter valued at about $12,325,000. Institutional investors and hedge funds own 49.40% of the company's stock.

TELUS Price Performance

Shares of NYSE TU traded up $0.04 during midday trading on Tuesday, hitting $15.18. The stock had a trading volume of 3,072,306 shares, compared to its average volume of 2,855,654. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. TELUS Co. has a 1 year low of $13.24 and a 1 year high of $17.27. The company has a market capitalization of $22.98 billion, a PE ratio of 30.98, a P/E/G ratio of 5.18 and a beta of 0.70. The stock has a 50 day simple moving average of $14.88 and a 200-day simple moving average of $14.92.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. TELUS had a return on equity of 9.07% and a net margin of 4.85%. The company had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter last year, the firm posted $0.10 EPS. On average, sell-side analysts expect that TELUS Co. will post 0.71 EPS for the current fiscal year.

TELUS Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were paid a $0.2829 dividend. This represents a $1.13 dividend on an annualized basis and a yield of 7.45%. The ex-dividend date was Tuesday, March 11th. TELUS's dividend payout ratio (DPR) is 226.53%.

Analyst Ratings Changes

Several brokerages have commented on TU. Cormark lowered TELUS from a "moderate buy" rating to a "hold" rating in a report on Tuesday, March 4th. Bank of America lowered shares of TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Finally, StockNews.com upgraded shares of TELUS from a "sell" rating to a "hold" rating in a research report on Monday, February 10th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold".

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.