Vanguard Group Inc. Buys 916,459 Shares of TELUS Corporation $TU

Vanguard Group Inc. boosted its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 3.2% during the 4th quarter, HoldingsChannel reports. The fund owned 29,470,046 shares of the Wireless communications provider’s stock after purchasing an additional 916,459 shares during the period. Vanguard Group Inc.’s holdings in TELUS were worth $388,415,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TU. Flagship Harbor Advisors LLC bought a new stake in TELUS during the fourth quarter worth approximately $33,000. Farther Finance Advisors LLC increased its stake in TELUS by 35.0% during the third quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock worth $46,000 after acquiring an additional 759 shares during the last quarter. State of Wyoming bought a new stake in TELUS during the second quarter worth approximately $61,000. Employees Retirement System of Texas bought a new stake in TELUS during the third quarter worth approximately $64,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in TELUS by 37.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 4,585 shares of the Wireless communications provider’s stock worth $72,000 after acquiring an additional 1,241 shares during the last quarter. 49.40% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on TU. TD Securities raised TELUS from a “buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Canaccord Genuity Group lowered TELUS from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. Wall Street Zen lowered TELUS from a “hold” rating to a “sell” rating in a research report on Saturday, February 21st. Bank of America upgraded TELUS from a “neutral” rating to a “buy” rating and boosted their target price for the company from $14.50 to $16.00 in a research report on Tuesday, March 10th. Finally, TD Cowen upgraded TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, TELUS has a consensus rating of “Hold” and a consensus target price of $17.63.

TELUS Stock Up 2.1%

Shares of NYSE TU opened at $12.86 on Thursday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.81 and a current ratio of 0.86. The firm has a market capitalization of $19.91 billion, a price-to-earnings ratio of 24.72, a PEG ratio of 4.62 and a beta of 0.61. The stock has a 50 day moving average price of $12.90 and a 200 day moving average price of $13.43. TELUS Corporation has a 52-week low of $11.69 and a 52-week high of $16.74.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Thursday, February 12th. The Wireless communications provider reported $0.15 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.03). The business had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.85 billion. TELUS had a return on equity of 8.42% and a net margin of 5.42%.During the same period last year, the firm earned $0.25 EPS. Sell-side analysts expect that TELUS Corporation will post 0.7 earnings per share for the current year.

TELUS Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th were given a dividend of $0.4184 per share. The ex-dividend date of this dividend was Wednesday, March 11th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 13.0%. TELUS’s dividend payout ratio is presently 236.54%.

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.