111 Capital Makes New Investment in TELUS Corporation $TU

111 Capital bought a new position in TELUS Corporation (NYSE:TU) (TSE:T) in the second quarter, HoldingsChannel.com reports. The fund bought 120,053 shares of the Wireless communications provider’s stock, valued at approximately $1,929,000.

A number of other institutional investors also recently modified their holdings of the stock. Community Bank & Trust Waco Texas raised its stake in shares of TELUS by 5.6% in the second quarter. Community Bank & Trust Waco Texas now owns 50,333 shares of the Wireless communications provider’s stock worth $808,000 after acquiring an additional 2,671 shares during the last quarter. Truist Financial Corp grew its position in shares of TELUS by 3.5% during the 2nd quarter. Truist Financial Corp now owns 39,397 shares of the Wireless communications provider’s stock worth $633,000 after buying an additional 1,331 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of TELUS by 272.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 396,131 shares of the Wireless communications provider’s stock worth $6,361,000 after buying an additional 289,662 shares during the period. Golden State Equity Partners acquired a new stake in shares of TELUS during the 2nd quarter worth approximately $161,000. Finally, Walter Public Investments Inc. grew its position in shares of TELUS by 2.0% during the 2nd quarter. Walter Public Investments Inc. now owns 38,584 shares of the Wireless communications provider’s stock worth $620,000 after buying an additional 765 shares during the period. 49.40% of the stock is owned by institutional investors.

TELUS Stock Up 0.7%

Shares of NYSE:TU opened at $15.69 on Friday. TELUS Corporation has a 52 week low of $13.24 and a 52 week high of $16.74. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.81 and a current ratio of 0.86. The company has a market capitalization of $24.08 billion, a PE ratio of 34.10, a PEG ratio of 4.59 and a beta of 0.71. The company has a 50 day moving average price of $16.12 and a two-hundred day moving average price of $15.74.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). TELUS had a net margin of 4.67% and a return on equity of 9.10%. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.63 billion. During the same period in the previous year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th were paid a $0.3019 dividend. The ex-dividend date of this dividend was Wednesday, September 10th. This is a boost from TELUS’s previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a yield of 7.7%. TELUS’s payout ratio is currently 263.04%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TU shares. Scotiabank reiterated an “outperform” rating on shares of TELUS in a research report on Tuesday, July 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of TELUS in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $21.50.

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.