Gold Investment Management Ltd. Raises Stock Position in TELUS Corporation (NYSE:TU)

Gold Investment Management Ltd. increased its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 27.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,354 shares of the Wireless communications provider’s stock after purchasing an additional 24,620 shares during the quarter. Gold Investment Management Ltd.’s holdings in TELUS were worth $1,626,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its holdings in TELUS by 25.6% in the fourth quarter. Ameriprise Financial Inc. now owns 528,246 shares of the Wireless communications provider’s stock worth $7,249,000 after purchasing an additional 107,806 shares during the last quarter. American Century Companies Inc. boosted its holdings in TELUS by 4.6% in the fourth quarter. American Century Companies Inc. now owns 119,665 shares of the Wireless communications provider’s stock worth $1,623,000 after purchasing an additional 5,286 shares during the last quarter. Northern Trust Corp boosted its holdings in TELUS by 41.9% in the fourth quarter. Northern Trust Corp now owns 779,525 shares of the Wireless communications provider’s stock worth $10,570,000 after purchasing an additional 230,234 shares during the last quarter. LPL Financial LLC boosted its stake in shares of TELUS by 2.7% during the 4th quarter. LPL Financial LLC now owns 279,527 shares of the Wireless communications provider’s stock worth $3,790,000 after acquiring an additional 7,447 shares during the last quarter. Finally, Legal & General Group Plc purchased a new position in shares of TELUS during the 4th quarter worth $190,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Cormark cut shares of TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Canaccord Genuity Group lifted their price target on shares of TELUS from $20.25 to $21.50 and gave the stock a “hold” rating in a research note on Monday, May 12th. Bank of America cut shares of TELUS from a “buy” rating to a “neutral” rating in a research note on Friday, March 21st. Finally, National Bankshares reiterated a “sector perform” rating on shares of TELUS in a research note on Monday, May 12th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $21.50.

TELUS Stock Down 0.7%

Shares of TU stock opened at $15.82 on Friday. The company has a market capitalization of $24.13 billion, a price-to-earnings ratio of 27.76, a PEG ratio of 5.03 and a beta of 0.74. TELUS Corporation has a one year low of $13.24 and a one year high of $17.27. The company’s fifty day moving average price is $15.80 and its 200-day moving average price is $14.94. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.64 and a quick ratio of 0.59.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.2989 per share. This represents a $1.20 annualized dividend and a dividend yield of 7.56%. This is an increase from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, June 10th. TELUS’s dividend payout ratio (DPR) is presently 212.28%.

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; 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.