TELUS Co. (TU) Holdings Lifted by Bridgewater Associates LP
Bridgewater Associates LP grew its position in TELUS Co. (NYSE:TU) (TSE:T) by 212.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 258,524 shares of the Wireless communications provider’s stock after buying an additional 175,672 shares during the period. Bridgewater Associates LP’s holdings in TELUS were worth $9,178,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of TU. Point72 Asset Management L.P. purchased a new position in TELUS in the first quarter worth about $113,000. Cubist Systematic Strategies LLC purchased a new position in TELUS in the first quarter worth about $125,000. PNC Financial Services Group Inc. raised its holdings in TELUS by 53.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,809 shares of the Wireless communications provider’s stock worth $207,000 after buying an additional 2,026 shares during the last quarter. Stephens Inc. AR purchased a new position in TELUS in the first quarter worth about $220,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in TELUS in the first quarter worth about $235,000. 51.65% of the stock is owned by institutional investors and hedge funds.
TU opened at $36.54 on Wednesday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.85 and a quick ratio of 0.78. TELUS Co. has a twelve month low of $34.28 and a twelve month high of $38.50. The company has a market cap of $22.08 billion, a PE ratio of 18.00, a P/E/G ratio of 2.14 and a beta of 0.83.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 10th will be issued a dividend of $0.404 per share. The ex-dividend date of this dividend is Friday, September 7th. This represents a $1.62 annualized dividend and a dividend yield of 4.42%. TELUS’s payout ratio is 79.80%.
Several research analysts have issued reports on the stock. CIBC cut shares of TELUS from a “sector outperform” rating to a “neutral” rating in a report on Friday, May 11th. Barclays decreased their target price on shares of TELUS from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Friday, May 11th. Finally, Echelon Wealth Partners set a $52.00 target price on shares of TELUS and gave the stock a “buy” rating in a report on Friday, May 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. TELUS currently has an average rating of “Buy” and an average price target of $46.80.
TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and security and cloud-based services; healthcare solutions; business process outsourcing; and security solutions.
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