Fiera Capital Corp reduced its stake in shares of TELUS Corporation (NYSE:TU – Free Report) (TSE:T) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,365,666 shares of the Wireless communications provider’s stock after selling 502,130 shares during the quarter. Fiera Capital Corp’s holdings in TELUS were worth $228,952,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in TELUS by 11.0% during the 3rd quarter. First Trust Advisors LP now owns 7,478,636 shares of the Wireless communications provider’s stock worth $117,922,000 after buying an additional 743,471 shares during the last quarter. Harvest Portfolios Group Inc. grew its stake in TELUS by 108.8% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 423,285 shares of the Wireless communications provider’s stock worth $6,667,000 after buying an additional 220,552 shares during the last quarter. Vanguard Group Inc. grew its stake in TELUS by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 28,553,587 shares of the Wireless communications provider’s stock worth $449,748,000 after buying an additional 1,255,029 shares during the last quarter. TD Asset Management Inc boosted its position in TELUS by 1.5% during the 3rd quarter. TD Asset Management Inc now owns 36,863,219 shares of the Wireless communications provider’s stock worth $580,740,000 after acquiring an additional 550,574 shares during the period. Finally, Citigroup Inc. boosted its position in TELUS by 69.2% during the 3rd quarter. Citigroup Inc. now owns 1,932,604 shares of the Wireless communications provider’s stock worth $30,446,000 after acquiring an additional 790,288 shares during the period. 49.40% of the stock is currently owned by institutional investors.
TELUS Trading Up 0.1%
Shares of TU stock opened at $12.33 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.63 and a current ratio of 0.67. The firm has a market capitalization of $19.40 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 12.10 and a beta of 0.61. The stock has a fifty day moving average of $12.47 and a two-hundred day moving average of $13.07. TELUS Corporation has a 1 year low of $11.69 and a 1 year high of $16.74.
TELUS Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th will be given a dividend of $0.4184 per share. The ex-dividend date is Wednesday, June 10th. This represents a $1.67 annualized dividend and a dividend yield of 13.6%. TELUS’s dividend payout ratio (DPR) is 279.55%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on the company. TD Cowen upgraded TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Bank of America upgraded TELUS from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $14.50 to $16.00 in a research report on Tuesday, March 10th. Weiss Ratings lowered TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, April 20th. Canaccord Genuity Group lowered TELUS from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. Finally, TD Securities upgraded TELUS from a “buy” rating to a “buy” rating in a research report on Tuesday, April 28th. Five analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $16.33.
Get Our Latest Stock Report on TELUS
About TELUS
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.
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