OxFORD Asset Management LLP lifted its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 143.4% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,937 shares of the Wireless communications provider’s stock after buying an additional 15,869 shares during the quarter. OxFORD Asset Management LLP’s holdings in TELUS were worth $976,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TU. Franklin Resources Inc. lifted its stake in shares of TELUS by 73.8% during the 2nd quarter. Franklin Resources Inc. now owns 6,976,282 shares of the Wireless communications provider’s stock valued at $240,943,000 after buying an additional 2,963,432 shares in the last quarter. Duff & Phelps Investment Management Co. purchased a new position in shares of TELUS during the 3rd quarter valued at $55,184,000. CIBC Asset Management Inc lifted its stake in shares of TELUS by 11.0% during the 3rd quarter. CIBC Asset Management Inc now owns 9,555,688 shares of the Wireless communications provider’s stock valued at $342,797,000 after buying an additional 944,856 shares in the last quarter. Fiera Capital Corp lifted its stake in shares of TELUS by 34.6% during the 2nd quarter. Fiera Capital Corp now owns 3,038,791 shares of the Wireless communications provider’s stock valued at $104,724,000 after buying an additional 781,503 shares in the last quarter. Finally, Swiss National Bank lifted its stake in TELUS by 1,203.4% in the 2nd quarter. Swiss National Bank now owns 762,500 shares of the Wireless communications provider’s stock worth $26,305,000 after purchasing an additional 704,000 shares in the last quarter. Institutional investors own 51.84% of the company’s stock.
TELUS Corporation (TU) traded up $0.39 during trading on Friday, hitting $37.72. 522,744 shares of the stock were exchanged, compared to its average volume of 311,456. TELUS Corporation has a 12-month low of $31.28 and a 12-month high of $38.50. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.48 and a current ratio of 0.55. The company has a market cap of $22,193.77, a P/E ratio of 23.28, a PEG ratio of 2.07 and a beta of 0.92.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were issued a $0.505 dividend. The ex-dividend date of this dividend was Friday, December 8th. This is an increase from TELUS’s previous quarterly dividend of $0.39. This represents a $2.02 dividend on an annualized basis and a dividend yield of 5.36%. TELUS’s payout ratio is 98.15%.
Several analysts have commented on TU shares. Bank of America started coverage on shares of TELUS in a research note on Tuesday, November 21st. They issued a “neutral” rating and a $39.00 price target on the stock. Royal Bank of Canada upgraded shares of TELUS from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $47.00 to $51.00 in a research note on Friday, November 10th. Morgan Stanley boosted their price target on shares of TELUS from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research note on Friday, November 17th. Barclays boosted their price target on shares of TELUS from $41.00 to $42.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Finally, Zacks Investment Research cut shares of TELUS from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. TELUS presently has an average rating of “Buy” and an average price target of $45.14.
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TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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