Summit Global Investments Acquires 364,149 Shares of TELUS Co. (NYSE:TU)

Summit Global Investments raised its stake in TELUS Co. (NYSE:TU - Free Report) TSE: T by 533.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 432,437 shares of the Wireless communications provider's stock after buying an additional 364,149 shares during the period. Summit Global Investments' holdings in TELUS were worth $5,864,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of TU. National Bank of Canada FI raised its position in shares of TELUS by 24.2% during the third quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider's stock worth $438,922,000 after purchasing an additional 5,094,269 shares during the period. Janus Henderson Group PLC increased its stake in TELUS by 0.7% in the 3rd quarter. Janus Henderson Group PLC now owns 6,701,819 shares of the Wireless communications provider's stock worth $112,610,000 after purchasing an additional 49,088 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. raised its holdings in TELUS by 5.2% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,403,521 shares of the Wireless communications provider's stock worth $46,088,000 after buying an additional 169,577 shares during the period. Duff & Phelps Investment Management Co. lifted its stake in TELUS by 13.5% during the third quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider's stock valued at $44,785,000 after buying an additional 317,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of TELUS by 8.2% in the third quarter. Geode Capital Management LLC now owns 2,335,660 shares of the Wireless communications provider's stock worth $40,238,000 after buying an additional 177,953 shares during the period. Institutional investors and hedge funds own 49.40% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley initiated coverage on shares of TELUS in a report on Monday, December 16th. They set an "equal weight" rating on the stock. National Bank Financial downgraded shares of TELUS from an "outperform" rating to a "sector perform" rating in a research note on Friday, December 13th. Cormark cut TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Bank of America downgraded TELUS from a "buy" rating to a "neutral" rating in a report on Friday, March 21st. Finally, StockNews.com raised TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, TELUS has a consensus rating of "Hold".

TELUS Stock Up 1.5 %

Shares of NYSE:TU traded up $0.22 during trading on Wednesday, reaching $14.14. 4,059,403 shares of the company traded hands, compared to its average volume of 2,731,143. The firm has a fifty day simple moving average of $14.84 and a 200 day simple moving average of $15.24. The firm has a market cap of $21.40 billion, a P/E ratio of 28.85, a price-to-earnings-growth ratio of 5.18 and a beta of 0.72. TELUS Co. has a 1-year low of $13.24 and a 1-year high of $17.27. 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 (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 (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.64 billion. TELUS had a return on equity of 9.07% and a net margin of 4.85%. During the same period last year, the company earned $0.10 earnings per share. Analysts anticipate that TELUS Co. will post 0.71 earnings per share for the current fiscal year.

TELUS Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.2829 per share. The ex-dividend date of this dividend is Tuesday, March 11th. This represents a $1.13 annualized dividend and a dividend yield of 8.00%. TELUS's dividend payout ratio is 226.53%.

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.