TELUS Corporation $TU Stake Lifted by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,741,998 shares of the Wireless communications provider’s stock after acquiring an additional 535,183 shares during the period. Geode Capital Management LLC’s holdings in TELUS were worth $80,532,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TU. Arrowstreet Capital Limited Partnership boosted its holdings in shares of TELUS by 40.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 9,033,455 shares of the Wireless communications provider’s stock valued at $142,387,000 after acquiring an additional 2,583,074 shares in the last quarter. Fiera Capital Corp boosted its holdings in shares of TELUS by 10.7% in the third quarter. Fiera Capital Corp now owns 17,867,796 shares of the Wireless communications provider’s stock valued at $281,326,000 after acquiring an additional 1,725,982 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of TELUS by 4.6% in the third quarter. Vanguard Group Inc. now owns 28,553,587 shares of the Wireless communications provider’s stock valued at $449,748,000 after acquiring an additional 1,255,029 shares in the last quarter. Scotia Capital Inc. lifted its stake in TELUS by 4.5% during the third quarter. Scotia Capital Inc. now owns 19,687,766 shares of the Wireless communications provider’s stock valued at $310,129,000 after purchasing an additional 845,682 shares during the last quarter. Finally, Jane Street Group LLC lifted its stake in TELUS by 123.5% during the second quarter. Jane Street Group LLC now owns 151,059 shares of the Wireless communications provider’s stock valued at $2,426,000 after purchasing an additional 792,690 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors.

TELUS Stock Up 0.1%

TU stock opened at $12.33 on Monday. TELUS Corporation has a 12 month low of $11.69 and a 12 month high of $16.74. The firm has a market cap of $19.40 billion, a PE ratio of 28.01, a P/E/G ratio of 12.10 and a beta of 0.61. The firm has a 50 day simple moving average of $12.47 and a 200 day simple moving average of $13.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.67 and a quick ratio of 0.63.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $3.60 billion during the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The firm’s quarterly revenue was down .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.26 EPS. Equities research analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th will be given a $0.4184 dividend. This represents a $1.67 annualized dividend and a dividend yield of 13.6%. The ex-dividend date is Wednesday, June 10th. TELUS’s dividend payout ratio is 279.55%.

Wall Street Analyst Weigh In

Several research firms recently commented on TU. Weiss Ratings lowered shares of TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. Canaccord Genuity Group lowered shares of TELUS from a “buy” rating to a “hold” rating in a research note on Thursday, April 9th. Scotiabank lowered shares of TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, April 10th. Bank of America raised shares of TELUS from a “neutral” rating to a “buy” rating and increased their target price for the company from $14.50 to $16.00 in a research note on Tuesday, March 10th. Finally, TD Cowen raised shares of TELUS from a “hold” rating to a “buy” rating in a research note on Tuesday, April 28th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $16.33.

TELUS Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.