Swiss National Bank raised its stake in TELUS Corporation (NYSE:TU – Free Report) (TSE:T) by 28.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,722,165 shares of the Wireless communications provider’s stock after purchasing an additional 379,200 shares during the period. Swiss National Bank’s holdings in TELUS were worth $22,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also recently made changes to their positions in the company. D.A. Davidson & CO. grew its stake in TELUS by 8.5% during the 1st quarter. D.A. Davidson & CO. now owns 16,007 shares of the Wireless communications provider’s stock worth $205,000 after buying an additional 1,256 shares during the last quarter. Hsbc Holdings PLC lifted its stake in TELUS by 23.3% in the first quarter. Hsbc Holdings PLC now owns 23,575 shares of the Wireless communications provider’s stock valued at $303,000 after buying an additional 4,453 shares during the last quarter. Summit Securities Group LLC lifted its stake in TELUS by 762.5% in the first quarter. Summit Securities Group LLC now owns 6,900 shares of the Wireless communications provider’s stock valued at $89,000 after buying an additional 6,100 shares during the last quarter. Ascentis Independent Advisors boosted its holdings in shares of TELUS by 100.0% in the first quarter. Ascentis Independent Advisors now owns 20,000 shares of the Wireless communications provider’s stock valued at $257,000 after acquiring an additional 10,000 shares during the period. Finally, Walter Public Investments Inc. grew its position in shares of TELUS by 2.4% during the first quarter. Walter Public Investments Inc. now owns 36,868 shares of the Wireless communications provider’s stock worth $474,000 after acquiring an additional 868 shares during the last quarter. 49.40% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
TU has been the topic of a number of recent research reports. Barclays set a $12.00 target price on shares of TELUS and gave the company an “equal weight” rating in a report on Thursday, July 16th. Raymond James Financial assumed coverage on shares of TELUS in a research report on Wednesday, July 15th. They set a “market perform” rating on the stock. TD Securities upgraded shares of TELUS from a “buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Scotiabank cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, April 10th. Finally, Wall Street Zen raised shares of TELUS from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Five analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.67.
TELUS Trading Down 1.0%
Shares of TU stock opened at $10.11 on Friday. The company has a market capitalization of $15.91 billion, a P/E ratio of 22.97, a price-to-earnings-growth ratio of 7.65 and a beta of 0.63. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. The business’s 50 day moving average is $11.42 and its two-hundred day moving average is $12.57. TELUS Corporation has a twelve month low of $9.95 and a twelve month high of $16.72.
TELUS (NYSE:TU – Get Free Report) (TSE:T) last released its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. TELUS had a return on equity of 8.29% and a net margin of 4.54%.The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the prior year, the business earned $0.26 earnings per share. The company’s quarterly revenue was down .6% compared to the same quarter last year. Equities analysts forecast that TELUS Corporation will post 0.74 EPS for the current year.
TELUS Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th were issued a $0.4184 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.67 annualized dividend and a dividend yield of 16.6%. TELUS’s payout ratio is presently 275.00%.
TELUS Profile
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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