Bank of Nova Scotia Trust Co. increased its position in TELUS Co. (NYSE:TU - Free Report) TSE: T by 1.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 2,050,077 shares of the Wireless communications provider's stock after acquiring an additional 33,782 shares during the quarter. TELUS comprises 2.9% of Bank of Nova Scotia Trust Co.'s investment portfolio, making the stock its 7th largest holding. Bank of Nova Scotia Trust Co. owned approximately 0.14% of TELUS worth $27,799,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc lifted its holdings in shares of TELUS by 195,100.0% in the fourth quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider's stock worth $26,000 after buying an additional 1,951 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of TELUS by 1,756.0% in the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock worth $65,000 after acquiring an additional 4,548 shares during the last quarter. Blueshift Asset Management LLC bought a new stake in TELUS in the fourth quarter worth $142,000. Triasima Portfolio Management inc. purchased a new stake in TELUS during the 4th quarter valued at about $146,000. Finally, Legal & General Group Plc purchased a new stake in shares of TELUS during the fourth quarter valued at approximately $190,000. Institutional investors own 49.40% of the company's stock.
TELUS Stock Performance
TU traded up $0.04 during mid-day trading on Tuesday, reaching $15.18. 3,072,306 shares of the company traded hands, 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 52-week low of $13.24 and a 52-week high of $17.27. The stock has a market capitalization of $22.98 billion, a P/E ratio of 30.98, a P/E/G ratio of 5.18 and a beta of 0.70. The company's fifty day moving average price is $14.88 and its 200-day moving average price is $14.92.
TELUS (NYSE:TU - Get Free Report) TSE: T last announced its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.02. The business had revenue of $3.85 billion during the quarter, compared to analysts' expectations of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same period in the prior year, the company earned $0.10 earnings per share. On average, sell-side analysts expect that TELUS Co. will post 0.71 EPS for the current year.
TELUS Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.2829 per share. This represents a $1.13 annualized dividend and a yield of 7.45%. The ex-dividend date of this dividend was Tuesday, March 11th. TELUS's dividend payout ratio is currently 226.53%.
Analyst Ratings Changes
Several analysts recently issued reports on the company. Bank of America cut TELUS from a "buy" rating to a "neutral" rating in a research note on Friday, March 21st. Cormark cut TELUS from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, March 4th. Finally, StockNews.com upgraded shares of TELUS from a "sell" rating to a "hold" rating in a research note on Monday, February 10th. Six research 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 company presently has an average rating of "Hold".
View Our Latest Stock Analysis on TELUS
About TELUS
(
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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