Leo Wealth LLC Invests $279,000 in TELUS Co. (NYSE:TU)

Leo Wealth LLC purchased a new position in TELUS Co. (NYSE:TU) (TSE:T) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 20,570 shares of the Wireless communications provider’s stock, valued at approximately $279,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc increased its stake in shares of TELUS by 195,100.0% in the fourth quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider’s stock valued at $26,000 after buying an additional 1,951 shares during the period. Avior Wealth Management LLC grew its holdings in TELUS by 1,756.0% during the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider’s stock worth $65,000 after acquiring an additional 4,548 shares during the last quarter. Blue Trust Inc. increased its position in TELUS by 58.0% in the 3rd quarter. Blue Trust Inc. now owns 4,001 shares of the Wireless communications provider’s stock valued at $67,000 after acquiring an additional 1,468 shares during the period. Trust Co. of Vermont raised its stake in shares of TELUS by 19.0% during the third quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock valued at $128,000 after acquiring an additional 1,218 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of TELUS during the second quarter worth $163,000. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Scotiabank raised TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. StockNews.com downgraded TELUS from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. Morgan Stanley assumed coverage on TELUS in a report on Monday, December 16th. They issued an “equal weight” rating on the stock. Finally, National Bank Financial downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.00.

TELUS Stock Performance

TU stock opened at $14.40 on Friday. The firm has a market cap of $21.60 billion, a PE ratio of 30.64, a price-to-earnings-growth ratio of 4.81 and a beta of 0.75. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. The stock has a 50-day moving average price of $14.32 and a 200-day moving average price of $15.49. TELUS Co. has a 1-year low of $13.24 and a 1-year high of $18.16.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. The business had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $3.69 billion. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.19 earnings per share. As a group, equities research analysts expect that TELUS Co. will post 0.72 earnings per share for the current year.

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.