Crossmark Global Holdings Inc. lessened its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 225,589 shares of the Wireless communications provider’s stock after selling 4,784 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in TELUS were worth $8,543,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. CIBC Asset Management Inc boosted 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 worth $342,797,000 after acquiring an additional 944,856 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of TELUS by 3.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 7,756,182 shares of the Wireless communications provider’s stock worth $278,502,000 after purchasing an additional 269,486 shares during the last quarter. Vanguard Group Inc. raised its position in shares of TELUS by 4.9% during the 2nd quarter. Vanguard Group Inc. now owns 4,911,996 shares of the Wireless communications provider’s stock worth $169,563,000 after purchasing an additional 231,253 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of TELUS by 2.9% during the 3rd quarter. Mackenzie Financial Corp now owns 4,311,659 shares of the Wireless communications provider’s stock worth $155,090,000 after purchasing an additional 121,450 shares during the last quarter. Finally, Bank of Nova Scotia raised its position in shares of TELUS by 10.0% during the 2nd quarter. Bank of Nova Scotia now owns 3,274,950 shares of the Wireless communications provider’s stock worth $114,104,000 after purchasing an additional 298,363 shares during the last quarter. 51.29% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on TU shares. TD Securities upgraded TELUS from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Morgan Stanley lifted their price objective on TELUS from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday, November 17th. Bank of America started coverage on TELUS in a research report on Tuesday, November 21st. They set a “neutral” rating and a $39.00 price objective for the company. Royal Bank of Canada upgraded TELUS from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $47.00 to $51.00 in a research report on Friday, November 10th. Finally, Scotiabank upgraded TELUS from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $45.14.
Shares of TELUS Co. (NYSE:TU) traded down $0.17 on Wednesday, reaching $35.36. The company’s stock had a trading volume of 69,818 shares, compared to its average volume of 414,768. The company has a debt-to-equity ratio of 1.48, a current ratio of 0.56 and a quick ratio of 0.48. The firm has a market cap of $21,343.59, a P/E ratio of 18.65, a PEG ratio of 2.07 and a beta of 0.88. TELUS Co. has a 52 week low of $31.28 and a 52 week high of $38.50.
TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Thursday, February 8th. The Wireless communications provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.02). TELUS had a net margin of 10.94% and a return on equity of 18.78%. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.44 billion. During the same quarter last year, the firm posted $0.53 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. research analysts anticipate that TELUS Co. will post 2.17 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Friday, March 9th will be paid a dividend of $0.402 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $1.61 annualized dividend and a dividend yield of 4.55%. TELUS’s dividend payout ratio is presently 85.19%.
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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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