Cardinal Capital Management Inc. Raises Stock Holdings in TELUS Co. (NYSE:TU)

Cardinal Capital Management Inc. raised its holdings in shares of TELUS Co. (NYSE:TU - Free Report) TSE: T by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 375,091 shares of the Wireless communications provider's stock after purchasing an additional 26,655 shares during the quarter. Cardinal Capital Management Inc.'s holdings in TELUS were worth $5,074,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TU. Versant Capital Management Inc lifted its position in shares of TELUS by 195,100.0% during the fourth quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider's stock valued at $26,000 after buying an additional 1,951 shares during the last quarter. Avior Wealth Management LLC lifted its stake in TELUS by 1,756.0% during the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider's stock valued at $65,000 after acquiring an additional 4,548 shares during the period. Blue Trust Inc. boosted its holdings in shares of TELUS by 58.0% in the 3rd quarter. Blue Trust Inc. now owns 4,001 shares of the Wireless communications provider's stock valued at $67,000 after acquiring an additional 1,468 shares during the last quarter. Trust Co. of Vermont grew its stake in shares of TELUS by 19.0% during the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider's stock worth $128,000 after purchasing an additional 1,218 shares during the period. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of TELUS during the 2nd quarter valued at approximately $163,000. Hedge funds and other institutional investors own 49.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. National Bank Financial downgraded TELUS from an "outperform" rating to a "sector perform" rating in a research report on Friday, December 13th. StockNews.com lowered TELUS from a "hold" rating to a "sell" rating in a research note on Thursday, November 21st. Morgan Stanley initiated coverage on shares of TELUS in a research note on Monday, December 16th. They set an "equal weight" rating for the company. Finally, Scotiabank raised shares of TELUS from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $26.00.

TELUS Stock Down 0.0 %

TU traded down $0.01 on Thursday, reaching $14.14. The company's stock had a trading volume of 3,742,706 shares, compared to its average volume of 3,714,865. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 1.50. TELUS Co. has a fifty-two week low of $13.24 and a fifty-two week high of $18.55. The stock has a 50 day moving average of $14.51 and a two-hundred day moving average of $15.58. The company has a market capitalization of $21.20 billion, a price-to-earnings ratio of 30.08, a P/E/G ratio of 4.67 and a beta of 0.74.

TELUS (NYSE:TU - Get Free Report) TSE: T last announced its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.11. The firm had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $3.69 billion. TELUS had a net margin of 4.56% and a return on equity of 8.80%. TELUS's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.19 earnings per share. As a group, analysts forecast that TELUS Co. will post 0.72 EPS for the current fiscal year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were paid a $0.297 dividend. This represents a $1.19 annualized dividend and a dividend yield of 8.40%. The ex-dividend date was Wednesday, December 11th. This is a boost from TELUS's previous quarterly dividend of $0.28. TELUS's dividend payout ratio (DPR) is 242.56%.

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.