Blue Trust Inc. Boosts Stock Holdings in TELUS Corporation $TU

Blue Trust Inc. lifted its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 26.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,227 shares of the Wireless communications provider’s stock after acquiring an additional 667 shares during the quarter. Blue Trust Inc.’s holdings in TELUS were worth $52,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of TU. Walter Public Investments Inc. increased its holdings in TELUS by 2.0% in the second quarter. Walter Public Investments Inc. now owns 38,584 shares of the Wireless communications provider’s stock valued at $620,000 after buying an additional 765 shares during the last quarter. JCIC Asset Management Inc. increased its holdings in TELUS by 8.0% in the first quarter. JCIC Asset Management Inc. now owns 10,784 shares of the Wireless communications provider’s stock valued at $155,000 after buying an additional 795 shares during the last quarter. Trust Co. of Vermont increased its holdings in TELUS by 10.5% in the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider’s stock valued at $121,000 after buying an additional 800 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in TELUS by 71.9% in the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock valued at $33,000 after buying an additional 971 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC increased its holdings in TELUS by 5.3% in the first quarter. Beverly Hills Private Wealth LLC now owns 22,627 shares of the Wireless communications provider’s stock valued at $324,000 after buying an additional 1,135 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on TU. Weiss Ratings reissued a “hold (c)” rating on shares of TELUS in a report on Wednesday, October 8th. Scotiabank reissued an “outperform” rating on shares of TELUS in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, TELUS currently has an average rating of “Hold” and a consensus target price of $21.50.

TELUS Stock Performance

NYSE TU opened at $15.35 on Friday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.86 and a quick ratio of 0.81. TELUS Corporation has a 1 year low of $13.24 and a 1 year high of $16.74. The company has a market capitalization of $23.56 billion, a PE ratio of 33.37, a P/E/G ratio of 4.54 and a beta of 0.71. The company has a fifty day moving average of $15.97 and a two-hundred day moving average of $15.82.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). TELUS had a net margin of 4.67% and a return on equity of 9.10%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.63 billion. During the same quarter in the prior year, the company earned $0.25 EPS. The business’s revenue was up 2.2% on a year-over-year basis. As a group, analysts expect that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th were paid a dividend of $0.3019 per share. This represents a $1.21 annualized dividend and a dividend yield of 7.9%. This is a positive change from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, September 10th. TELUS’s payout ratio is currently 263.04%.

TELUS 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.