Bank of New York Mellon Corp Has $6.32 Million Stake in TELUS Co. (NYSE:TU)

Bank of New York Mellon Corp boosted its position in TELUS Co. (NYSE:TU) (TSE:T) by 3.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 466,034 shares of the Wireless communications provider’s stock after purchasing an additional 15,025 shares during the period. Bank of New York Mellon Corp’s holdings in TELUS were worth $6,319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. National Bank of Canada FI increased its stake in TELUS by 24.2% in the third quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock valued at $438,922,000 after purchasing an additional 5,094,269 shares in the last quarter. Janus Henderson Group PLC boosted its stake in TELUS by 0.7% in the third quarter. Janus Henderson Group PLC now owns 6,701,819 shares of the Wireless communications provider’s stock valued at $112,610,000 after acquiring an additional 49,088 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. boosted its holdings in TELUS by 8.9% in the 3rd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,233,944 shares of the Wireless communications provider’s stock worth $54,249,000 after buying an additional 263,774 shares during the period. Duff & Phelps Investment Management Co. boosted its holdings in TELUS by 13.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider’s stock worth $44,785,000 after buying an additional 317,000 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in TELUS by 8.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,335,660 shares of the Wireless communications provider’s stock valued at $40,238,000 after purchasing an additional 177,953 shares during the period. 49.40% of the stock is owned by institutional investors.

TELUS Stock Down 0.0 %

TU opened at $15.00 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52. The firm has a 50 day moving average price of $14.76 and a 200-day moving average price of $15.34. TELUS Co. has a twelve month low of $13.24 and a twelve month high of $17.27. The stock has a market capitalization of $22.70 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 5.18 and a beta of 0.72.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same period in the prior year, the business posted $0.10 earnings per share. Equities research analysts forecast that TELUS Co. will post 0.71 earnings per share for the current year.

TELUS Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th will be given a dividend of $0.2829 per share. The ex-dividend date is Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.55%. TELUS’s dividend payout ratio is 226.53%.

Wall Street Analysts Forecast Growth

TU has been the topic of several research reports. StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. National Bank Financial cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. Cormark lowered shares of TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Finally, Morgan Stanley initiated coverage on shares of TELUS in a research note on Monday, December 16th. They set an “equal weight” rating on the stock. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $26.00.

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.