Quantinno Capital Management LP Increases Stake in TELUS Co. (NYSE:TU)

Quantinno Capital Management LP increased its stake in TELUS Co. (NYSE:TU) (TSE:T) by 190.4% in the fourth quarter, Holdings Channel reports. The firm owned 188,075 shares of the Wireless communications provider’s stock after purchasing an additional 123,303 shares during the period. Quantinno Capital Management LP’s holdings in TELUS were worth $2,549,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Avior Wealth Management LLC boosted its holdings in shares of TELUS by 1,756.0% in the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider’s stock valued at $65,000 after acquiring an additional 4,548 shares during the last quarter. Optiver Holding B.V. acquired a new stake in TELUS during the 4th quarter worth about $120,000. Blueshift Asset Management LLC purchased a new position in shares of TELUS during the 4th quarter valued at about $142,000. Triasima Portfolio Management inc. acquired a new position in shares of TELUS in the 4th quarter valued at about $146,000. Finally, Legal & General Group Plc purchased a new stake in shares of TELUS in the fourth quarter worth about $190,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Stock Performance

NYSE:TU opened at $15.95 on Wednesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The stock has a market capitalization of $24.15 billion, a PE ratio of 32.55, a P/E/G ratio of 5.18 and a beta of 0.73. TELUS Co. has a fifty-two week low of $13.24 and a fifty-two week high of $17.27. The company has a fifty day moving average of $14.84 and a two-hundred day moving average of $14.82.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be paid a $0.2989 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This is a positive change from TELUS’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a yield of 7.50%. TELUS’s dividend payout ratio (DPR) is currently 201.75%.

Analysts Set New Price Targets

Several research firms have commented on TU. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Canaccord Genuity Group increased their price target on shares of TELUS from $20.25 to $21.50 and gave the stock a “hold” rating in a report on Monday, May 12th. National Bankshares restated a “sector perform” rating on shares of TELUS in a research report on Monday, May 12th. Cormark downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Bank of America cut TELUS from a “buy” rating to a “neutral” rating in a research report on Friday, March 21st. Eight investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.50.

About TELUS

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; healthcare 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, as well as mobile and fixed voice and data telecommunications services and products.