Vanguard Group Inc. Has $449.75 Million Stock Holdings in TELUS Corporation $TU

Vanguard Group Inc. lifted its position in TELUS Corporation (NYSE:TU) (TSE:T) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,553,587 shares of the Wireless communications provider’s stock after buying an additional 1,255,029 shares during the quarter. Vanguard Group Inc.’s holdings in TELUS were worth $449,748,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Scotia Capital Inc. lifted its position in TELUS by 1.6% during the 2nd quarter. Scotia Capital Inc. now owns 18,842,084 shares of the Wireless communications provider’s stock worth $302,519,000 after acquiring an additional 288,532 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of TELUS by 9.1% in the third quarter. CIBC Asset Management Inc now owns 18,764,954 shares of the Wireless communications provider’s stock worth $295,645,000 after purchasing an additional 1,566,983 shares during the period. TD Waterhouse Canada Inc. boosted its stake in TELUS by 1.2% during the 3rd quarter. TD Waterhouse Canada Inc. now owns 11,557,626 shares of the Wireless communications provider’s stock valued at $183,133,000 after purchasing an additional 135,593 shares during the period. Letko Brosseau & Associates Inc. increased its position in TELUS by 2.2% in the 2nd quarter. Letko Brosseau & Associates Inc. now owns 6,595,437 shares of the Wireless communications provider’s stock worth $105,711,000 after buying an additional 139,120 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of TELUS by 114.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 6,450,381 shares of the Wireless communications provider’s stock worth $103,624,000 after acquiring an additional 3,439,940 shares during the last quarter. Institutional investors own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. National Bank Financial reissued an “outperform” rating on shares of TELUS in a report on Thursday, December 4th. Scotiabank reiterated an “outperform” rating on shares of TELUS in a research note on Tuesday, February 17th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $19.00 target price (down from $22.00) on shares of TELUS in a research report on Tuesday, November 18th. TD Securities reaffirmed a “buy” rating on shares of TELUS in a report on Friday, February 13th. Finally, Barclays reduced their price objective on TELUS from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, TELUS presently has a consensus rating of “Hold” and an average target price of $18.17.

TELUS Stock Performance

NYSE:TU opened at $13.47 on Thursday. The firm has a market capitalization of $20.84 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 1.60 and a beta of 0.67. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.65. TELUS Corporation has a 12-month low of $12.54 and a 12-month high of $16.74. The firm has a 50-day moving average price of $13.49 and a 200 day moving average price of $14.49.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). The company had revenue of $3.83 billion during the quarter, compared to the consensus estimate of $3.85 billion. TELUS had a net margin of 5.42% and a return on equity of 8.42%. During the same quarter in the prior year, the company posted $0.25 earnings per share. Research analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Wednesday, March 11th will be paid a dividend of $0.4184 per share. This represents a $1.67 annualized dividend and a yield of 12.4%. The ex-dividend date is Wednesday, March 11th. TELUS’s dividend payout ratio is currently 230.77%.

TELUS 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.