Avior Wealth Management LLC lifted its position in TELUS Co. (NYSE:TU – Free Report) (TSE:T) by 1,756.0% during the 4th quarter, HoldingsChannel reports. The firm owned 4,807 shares of the Wireless communications provider’s stock after acquiring an additional 4,548 shares during the quarter. Avior Wealth Management LLC’s holdings in TELUS were worth $65,000 at the end of the most recent reporting period.
Several other large investors have also recently made changes to their positions in TU. Crossmark Global Holdings Inc. grew its position in TELUS by 3.4% in the fourth quarter. Crossmark Global Holdings Inc. now owns 87,419 shares of the Wireless communications provider’s stock worth $1,185,000 after acquiring an additional 2,840 shares in the last quarter. Nexus Investment Management ULC grew its position in TELUS by 1.8% in the fourth quarter. Nexus Investment Management ULC now owns 2,225,265 shares of the Wireless communications provider’s stock worth $30,103,000 after acquiring an additional 38,450 shares in the last quarter. Avanza Fonder AB purchased a new position in TELUS in the fourth quarter worth about $412,000. Pacifica Partners Inc. grew its position in TELUS by 15.0% in the fourth quarter. Pacifica Partners Inc. now owns 159,459 shares of the Wireless communications provider’s stock worth $2,170,000 after acquiring an additional 20,770 shares in the last quarter. Finally, Centre Asset Management LLC purchased a new position in TELUS in the fourth quarter worth about $6,946,000. 49.40% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on TU. Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. StockNews.com lowered TELUS from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. National Bank Financial lowered TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. Finally, Morgan Stanley began coverage on TELUS in a research report on Monday, December 16th. They set an “equal weight” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, TELUS currently has an average rating of “Hold” and an average price target of $26.00.
TELUS Stock Down 1.7 %
Shares of NYSE TU opened at $14.44 on Thursday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.69. The firm has a market capitalization of $21.65 billion, a price-to-earnings ratio of 30.71, a PEG ratio of 4.69 and a beta of 0.74. The stock has a 50 day moving average price of $14.43 and a 200 day moving average price of $15.55. TELUS Co. has a 52-week low of $13.24 and a 52-week high of $18.24.
TELUS (NYSE:TU – Get Free Report) (TSE:T) last announced its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. The firm had revenue of $5.10 billion during the quarter, compared to analyst estimates of $3.69 billion. TELUS had a return on equity of 8.80% and a net margin of 4.56%. TELUS’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share. Sell-side analysts expect that TELUS Co. will post 0.72 earnings per share for the current year.
TELUS Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were issued a $0.297 dividend. This is a positive change from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, December 11th. This represents a $1.19 dividend on an annualized basis and a dividend yield of 8.23%. TELUS’s payout ratio is presently 242.56%.
About TELUS
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.
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