Sanctuary Advisors LLC Takes Position in TELUS Co. (NYSE:TU)

Sanctuary Advisors LLC bought a new position in shares of TELUS Co. (NYSE:TU) (TSE:T) during the 2nd quarter, Holdings Channel reports. The firm bought 42,362 shares of the Wireless communications provider’s stock, valued at approximately $680,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Virtu Financial LLC purchased a new position in shares of TELUS in the fourth quarter valued at $376,000. Goldman Sachs Group Inc. increased its holdings in TELUS by 81.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,798,166 shares of the Wireless communications provider’s stock valued at $67,569,000 after acquiring an additional 1,704,788 shares in the last quarter. Vanguard Group Inc. increased its holdings in TELUS by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 22,834,015 shares of the Wireless communications provider’s stock valued at $406,217,000 after acquiring an additional 1,044,988 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in TELUS during the fourth quarter worth about $188,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of TELUS by 57.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,049 shares of the Wireless communications provider’s stock valued at $303,000 after purchasing an additional 6,211 shares in the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TU has been the subject of a number of recent research reports. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Canaccord Genuity Group cut TELUS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $26.00.

TELUS Stock Up 0.9 %

TU opened at $16.19 on Monday. TELUS Co. has a 12 month low of $14.63 and a 12 month high of $19.14. The business has a 50-day moving average of $16.42 and a two-hundred day moving average of $16.13. The stock has a market capitalization of $23.90 billion, a price-to-earnings ratio of 41.51, a price-to-earnings-growth ratio of 2.43 and a beta of 0.74. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.61.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. TELUS had a net margin of 3.87% and a return on equity of 8.50%. The company had revenue of $3.64 billion for the quarter, compared to the consensus estimate of $3.70 billion. During the same quarter last year, the firm posted $0.14 earnings per share. On average, research analysts expect that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th were given a dividend of $0.284 per share. This represents a $1.14 dividend on an annualized basis and a yield of 7.02%. The ex-dividend date was Tuesday, September 10th. This is an increase from TELUS’s previous quarterly dividend of $0.28. TELUS’s payout ratio is 294.87%.

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.