TELUS Co. (NYSE:TU) Position Raised by Raymond James & Associates

Raymond James & Associates increased its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 3.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,212 shares of the Wireless communications provider’s stock after purchasing an additional 4,822 shares during the period. Raymond James & Associates’ holdings in TELUS were worth $2,604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TU. BNP Paribas Financial Markets grew its position in TELUS by 276.3% in the first quarter. BNP Paribas Financial Markets now owns 143,688 shares of the Wireless communications provider’s stock worth $2,300,000 after buying an additional 105,505 shares during the last quarter. Janney Montgomery Scott LLC grew its position in TELUS by 44.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 41,615 shares of the Wireless communications provider’s stock worth $666,000 after purchasing an additional 12,826 shares in the last quarter. FORA Capital LLC purchased a new position in TELUS during the 1st quarter worth approximately $161,000. Mediolanum International Funds Ltd purchased a new position in TELUS during the 1st quarter worth approximately $2,306,000. Finally, Quantbot Technologies LP grew its position in TELUS by 78.0% during the 1st quarter. Quantbot Technologies LP now owns 163,579 shares of the Wireless communications provider’s stock worth $2,619,000 after purchasing an additional 71,655 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group lowered shares of TELUS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Scotiabank raised shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, October 28th. Finally, StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $26.00.

TELUS Stock Down 0.5 %

TU stock opened at $15.63 on Wednesday. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.46. TELUS Co. has a 1 year low of $14.63 and a 1 year high of $19.14. The company has a fifty day simple moving average of $16.38 and a 200 day simple moving average of $16.14. The firm has a market cap of $23.32 billion, a PE ratio of 39.08, a PEG ratio of 2.40 and a beta of 0.75.

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.