Wellington Management Group LLP Increases Holdings in TELUS Co. (NYSE:TU)

Wellington Management Group LLP lifted its position in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 69.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 256,506 shares of the Wireless communications provider's stock after buying an additional 104,939 shares during the quarter. Wellington Management Group LLP's holdings in TELUS were worth $4,308,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TU. Polar Asset Management Partners Inc. lifted its stake in shares of TELUS by 34.0% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 81,665 shares of the Wireless communications provider's stock worth $1,370,000 after purchasing an additional 20,728 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of TELUS by 0.7% during 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 during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in TELUS by 132.4% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 479,785 shares of the Wireless communications provider's stock valued at $8,048,000 after buying an additional 273,368 shares during the last quarter. Northwest & Ethical Investments L.P. raised its stake in TELUS by 0.5% in the third quarter. Northwest & Ethical Investments L.P. now owns 449,777 shares of the Wireless communications provider's stock valued at $7,547,000 after buying an additional 2,196 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in TELUS by 2.0% in the third quarter. Public Sector Pension Investment Board now owns 77,198 shares of the Wireless communications provider's stock valued at $1,297,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 49.40% of the company's stock.

Analyst Upgrades and Downgrades

TU has been the subject of a number of research analyst reports. National Bank Financial cut TELUS from an "outperform" rating to a "sector perform" rating in a research note on Friday. Scotiabank upgraded TELUS from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, October 28th. StockNews.com cut TELUS from a "hold" rating to a "sell" rating in a research note on Thursday, November 21st. Finally, Morgan Stanley started coverage on TELUS in a research note on Monday. They issued an "equal weight" rating for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $26.00.

TELUS Stock Performance

TELUS stock traded down $0.33 during midday trading on Tuesday, hitting $14.05. 3,994,805 shares of the company were exchanged, compared to its average volume of 2,385,028. The firm has a market capitalization of $21.08 billion, a PE ratio of 29.89, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. TELUS Co. has a fifty-two week low of $14.00 and a fifty-two week high of $18.55. The business has a fifty day simple moving average of $15.62 and a two-hundred day simple moving average of $15.94. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.69.

TELUS (NYSE:TU - Get Free Report) TSE: T last posted its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.17 by $0.11. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The firm had revenue of $5.10 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the company earned $0.19 earnings per share. TELUS's revenue for the quarter was up 1.8% compared to the same quarter last year. On average, sell-side analysts forecast that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th will be given a $0.297 dividend. This represents a $1.19 annualized dividend and a dividend yield of 8.46%. The ex-dividend date is Wednesday, December 11th. This is an increase from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio (DPR) is 253.19%.

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.