Janney Montgomery Scott LLC decreased its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 10.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,854 shares of the Wireless communications provider’s stock after selling 7,765 shares during the quarter. Janney Montgomery Scott LLC’s holdings in TELUS were worth $1,273,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its position in shares of TELUS by 11.3% in the 4th quarter. Toronto Dominion Bank now owns 14,124,062 shares of the Wireless communications provider’s stock worth $304,605,000 after acquiring an additional 1,438,018 shares in the last quarter. Fiera Capital Corp boosted its stake in shares of TELUS by 21.4% in the 4th quarter. Fiera Capital Corp now owns 9,168,910 shares of the Wireless communications provider’s stock worth $181,037,000 after buying an additional 1,617,564 shares during the last quarter. Scotia Capital Inc. boosted its stake in shares of TELUS by 6.6% in the 4th quarter. Scotia Capital Inc. now owns 7,959,545 shares of the Wireless communications provider’s stock worth $157,599,000 after buying an additional 496,002 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of TELUS by 5.4% in the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 5,224,599 shares of the Wireless communications provider’s stock worth $103,466,000 after buying an additional 269,168 shares during the last quarter. Finally, FIL Ltd lifted its stake in TELUS by 5.2% in the fourth quarter. FIL Ltd now owns 4,812,450 shares of the Wireless communications provider’s stock valued at $95,312,000 after purchasing an additional 236,281 shares during the last quarter. 49.53% of the stock is currently owned by institutional investors.
Shares of TU stock opened at $21.77 on Friday. TELUS Co. has a 12-month low of $15.79 and a 12-month high of $22.00. The company has a current ratio of 0.78, a quick ratio of 0.72 and a debt-to-equity ratio of 1.43. The firm’s 50 day moving average is $20.70 and its 200 day moving average is $20.20. The stock has a market capitalization of $28.24 billion, a P/E ratio of 27.56, a P/E/G ratio of 5.28 and a beta of 0.71.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 2nd. Shareholders of record on Thursday, June 10th will be issued a $0.2594 dividend. This is an increase from TELUS’s previous quarterly dividend of $0.25. This represents a $1.04 dividend on an annualized basis and a yield of 4.77%. The ex-dividend date of this dividend is Wednesday, June 9th. TELUS’s payout ratio is currently 60.91%.
Several equities analysts recently commented on TU shares. National Bank Financial reiterated an “outperform” rating on shares of TELUS in a research note on Thursday, April 1st. Credit Suisse Group assumed coverage on shares of TELUS in a report on Monday, March 8th. They issued a “neutral” rating and a $33.00 price target on the stock. TD Securities decreased their price target on shares of TELUS from $31.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, April 5th. Desjardins reissued a “buy” rating on shares of TELUS in a research note on Thursday, March 18th. Finally, Scotiabank increased their target price on TELUS from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Tuesday, March 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. TELUS has an average rating of “Buy” and an average target price of $28.33.
TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Wireless and Wireline segments. The Wireless segment offers a range of telecommunications products and services. Its wireless products and services include network revenue comprising data and voice; and equipment sales from mobile technologies.
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