Public Employees Retirement System of Ohio acquired a new stake in TELUS Co. (NYSE:TU - Free Report) TSE: T during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 89,838 shares of the Wireless communications provider's stock, valued at approximately $1,509,000.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Fairscale Capital LLC purchased a new position in shares of TELUS in the second quarter worth about $27,000. Blue Trust Inc. grew its stake in TELUS by 60.4% in the 2nd quarter. Blue Trust Inc. now owns 2,533 shares of the Wireless communications provider's stock valued at $41,000 after buying an additional 954 shares in the last quarter. Acadian Asset Management LLC bought a new stake in TELUS during the 2nd quarter valued at $123,000. Trust Co. of Vermont lifted its position in shares of TELUS by 19.0% during the third quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider's stock worth $128,000 after acquiring an additional 1,218 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new position in shares of TELUS in the second quarter worth $163,000. 49.40% of the stock is owned by institutional investors.
TELUS Price Performance
NYSE TU traded down $0.12 during trading on Thursday, reaching $13.75. The company's stock had a trading volume of 4,538,335 shares, compared to its average volume of 2,403,961. The firm has a fifty day moving average of $15.53 and a 200 day moving average of $15.91. TELUS Co. has a one year low of $13.69 and a one year high of $18.55. The stock has a market capitalization of $20.63 billion, a PE ratio of 29.26, a P/E/G ratio of 2.10 and a beta of 0.73. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.63.
TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings data on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The company had revenue of $5.10 billion for the quarter, compared to analysts' expectations of $3.69 billion. During the same period in the prior year, the business earned $0.19 earnings per share. TELUS's revenue for the quarter was up 1.8% compared to the same quarter last year. Analysts expect that TELUS Co. will post 0.73 EPS for the current fiscal year.
TELUS Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be issued a dividend of $0.297 per share. This is an increase from TELUS's previous quarterly dividend of $0.28. This represents a $1.19 dividend on an annualized basis and a dividend yield of 8.64%. The ex-dividend date is Wednesday, December 11th. TELUS's payout ratio is currently 253.19%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on TU shares. Scotiabank upgraded TELUS from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, October 28th. StockNews.com lowered TELUS from a "hold" rating to a "sell" rating in a report on Thursday, November 21st. National Bank Financial downgraded shares of TELUS from an "outperform" rating to a "sector perform" rating in a report on Friday, December 13th. Finally, Morgan Stanley started coverage on shares of TELUS in a research note on Monday. They set an "equal weight" rating for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $26.00.
Check Out Our Latest Research Report on TELUS
TELUS Profile
(
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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