Tobam Increases Stake in TELUS Co. (NYSE:TU)

Tobam grew its position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 38.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 81,001 shares of the Wireless communications provider's stock after purchasing an additional 22,486 shares during the quarter. Tobam's holdings in TELUS were worth $1,098,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Barclays PLC increased its stake in TELUS by 38.5% during the 3rd quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider's stock valued at $7,839,000 after purchasing an additional 129,934 shares in the last quarter. Ontario Teachers Pension Plan Board raised its holdings in shares of TELUS by 159.6% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 140,539 shares of the Wireless communications provider's stock worth $2,360,000 after purchasing an additional 86,393 shares during the period. FMR LLC lifted its position in shares of TELUS by 192.0% during the 3rd quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider's stock valued at $22,257,000 after buying an additional 872,235 shares during the last quarter. Entropy Technologies LP purchased a new stake in TELUS during the third quarter valued at about $945,000. Finally, Nicola Wealth Management LTD. boosted its holdings in TELUS by 35.7% in the 3rd quarter. Nicola Wealth Management LTD. now owns 1,060,819 shares of the Wireless communications provider's stock worth $17,801,000 after buying an additional 279,000 shares during the period. 49.40% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TU. Morgan Stanley began coverage on TELUS in a research note 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 report on Friday, December 13th. StockNews.com raised shares of TELUS from a "sell" rating to a "hold" rating in a report on Monday. Finally, Scotiabank raised TELUS from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, October 28th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, TELUS currently has an average rating of "Hold" and an average target price of $26.00.

TELUS Price Performance

Shares of TU stock traded up $0.10 during trading hours on Tuesday, hitting $14.59. 1,865,222 shares of the company's stock were exchanged, compared to its average volume of 3,758,826. TELUS Co. has a 12-month low of $13.24 and a 12-month high of $18.16. The company has a market capitalization of $21.88 billion, a PE ratio of 30.99, a PEG ratio of 4.85 and a beta of 0.75. The business's 50 day simple moving average is $14.27 and its 200-day simple moving average is $15.47. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, beating 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 business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the business posted $0.19 earnings per share. The company's revenue was up 1.8% on a year-over-year basis. On average, equities research analysts anticipate that TELUS Co. will post 0.72 earnings per share for the current year.

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.