TELUS Corporation $TU Shares Bought by TD Asset Management Inc

TD Asset Management Inc raised its holdings in TELUS Corporation (NYSE:TU) (TSE:T) by 1.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 36,863,219 shares of the Wireless communications provider’s stock after buying an additional 550,574 shares during the quarter. TD Asset Management Inc owned about 2.40% of TELUS worth $580,740,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TU. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of TELUS by 1.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 779,692 shares of the Wireless communications provider’s stock valued at $11,181,000 after purchasing an additional 11,900 shares during the last quarter. CWM LLC increased its stake in TELUS by 169.6% during the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock valued at $59,000 after purchasing an additional 2,301 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of TELUS by 15.8% in the second quarter. Envestnet Asset Management Inc. now owns 549,012 shares of the Wireless communications provider’s stock worth $8,815,000 after buying an additional 74,958 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of TELUS by 1,981,964.7% in the second quarter. Bessemer Group Inc. now owns 3,428,972 shares of the Wireless communications provider’s stock worth $54,969,000 after buying an additional 3,428,799 shares during the last quarter. Finally, Atria Investments Inc acquired a new stake in shares of TELUS during the second quarter worth $294,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Stock Performance

Shares of TU stock opened at $13.56 on Wednesday. TELUS Corporation has a 52-week low of $12.54 and a 52-week high of $16.74. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.65. The stock has a market cap of $20.98 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 1.60 and a beta of 0.67. The business has a 50-day simple moving average of $13.48 and a 200-day simple moving average of $14.50.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.03). TELUS had a return on equity of 8.42% and a net margin of 5.42%.The company had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period last year, the business earned $0.25 earnings per share. On average, equities analysts expect that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be issued a $0.4184 dividend. The ex-dividend date of this dividend is Wednesday, March 11th. This represents a $1.67 dividend on an annualized basis and a yield of 12.3%. TELUS’s payout ratio is presently 230.77%.

Analyst Ratings Changes

Several research firms recently issued reports on TU. Citigroup raised TELUS to a “buy” rating in a research report on Thursday, December 4th. Barclays dropped their price target on TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Weiss Ratings restated a “hold (c-)” rating on shares of TELUS in a research note on Monday, December 29th. Wall Street Zen downgraded TELUS from a “hold” rating to a “sell” rating in a report on Saturday. Finally, TD Securities reiterated a “buy” rating on shares of TELUS in a research report on Friday, February 13th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $18.17.

TELUS Company Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.