Ossiam boosted its holdings in TELUS Co. (NYSE:TU – Free Report) (TSE:T) by 50.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 280,236 shares of the Wireless communications provider’s stock after acquiring an additional 93,703 shares during the quarter. Ossiam’s holdings in TELUS were worth $5,556,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in TU. Advisor Group Holdings Inc. lifted its position in TELUS by 60.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 14,694 shares of the Wireless communications provider’s stock valued at $260,000 after acquiring an additional 5,560 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in TELUS by 36.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 29,093 shares of the Wireless communications provider’s stock valued at $761,000 after acquiring an additional 7,737 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of TELUS by 59.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,666 shares of the Wireless communications provider’s stock worth $148,000 after buying an additional 2,109 shares in the last quarter. Aviva PLC lifted its position in shares of TELUS by 156.0% during the 1st quarter. Aviva PLC now owns 479,131 shares of the Wireless communications provider’s stock worth $12,536,000 after buying an additional 291,979 shares in the last quarter. Finally, Cetera Investment Advisers bought a new position in shares of TELUS during the 1st quarter worth approximately $206,000. Institutional investors own 49.48% of the company’s stock.
TELUS Price Performance
TELUS stock opened at $16.74 on Friday. TELUS Co. has a 1-year low of $16.67 and a 1-year high of $22.89. The firm has a market capitalization of $24.11 billion, a price-to-earnings ratio of 27.00, a P/E/G ratio of 2.56 and a beta of 0.73. The company has a current ratio of 0.63, a quick ratio of 0.57 and a debt-to-equity ratio of 1.30. The firm has a 50 day simple moving average of $17.89 and a 200 day simple moving average of $19.28.
TELUS Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Friday, September 8th will be given a dividend of $0.274 per share. This is a positive change from TELUS’s previous quarterly dividend of $0.27. This represents a $1.10 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date of this dividend is Thursday, September 7th. TELUS’s payout ratio is 172.58%.
Wall Street Analysts Forecast Growth
Several research firms have commented on TU. Desjardins dropped their target price on shares of TELUS from C$29.00 to C$27.50 in a research report on Friday, July 14th. JPMorgan Chase & Co. dropped their target price on shares of TELUS from C$33.00 to C$31.00 in a research report on Thursday, July 20th. Scotiabank dropped their target price on shares of TELUS from C$29.50 to C$28.00 in a research report on Tuesday, August 8th. StockNews.com began coverage on shares of TELUS in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Finally, CIBC dropped their target price on shares of TELUS from C$31.00 to C$29.00 in a research report on Monday, July 17th.
Get Our Latest Stock Analysis on TELUS
TELUS Company Profile
TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services.
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