Mirabaud Asset Management Ltd Buys 3,986 Shares of TELUS Co. (NYSE:TU)

Mirabaud Asset Management Ltd raised its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 7.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 60,344 shares of the Wireless communications provider’s stock after purchasing an additional 3,986 shares during the period. Mirabaud Asset Management Ltd’s holdings in TELUS were worth $812,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TU. National Bank of Canada FI raised its stake in TELUS by 24.2% in the 3rd quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock valued at $438,922,000 after acquiring an additional 5,094,269 shares during the period. Vanguard Group Inc. raised its position in shares of TELUS by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider’s stock valued at $349,841,000 after purchasing an additional 903,921 shares during the period. Norges Bank bought a new stake in shares of TELUS in the fourth quarter valued at approximately $70,212,000. Scheer Rowlett & Associates Investment Management Ltd. lifted its stake in shares of TELUS by 5.2% during the 4th quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 3,403,521 shares of the Wireless communications provider’s stock valued at $46,088,000 after buying an additional 169,577 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in TELUS by 29.8% in the 4th quarter. Geode Capital Management LLC now owns 3,032,404 shares of the Wireless communications provider’s stock worth $42,389,000 after buying an additional 696,744 shares during the period. 49.40% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TU shares. Cormark downgraded TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 4th. StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a report on Monday, February 10th. National Bank Financial downgraded TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 13th. Morgan Stanley assumed coverage on TELUS in a research report on Monday, December 16th. They set an “equal weight” rating on the stock. Finally, Bank of America downgraded shares of TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, TELUS presently has a consensus rating of “Hold”.

TELUS Price Performance

NYSE:TU opened at $14.49 on Friday. The firm has a market capitalization of $21.94 billion, a price-to-earnings ratio of 29.57, a P/E/G ratio of 5.18 and a beta of 0.70. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The stock has a fifty day moving average of $14.89 and a 200 day moving average of $15.12. TELUS Co. has a 52-week low of $13.24 and a 52-week high of $17.27.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Thursday, February 13th. The Wireless communications provider reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same period in the previous year, the firm posted $0.10 EPS. On average, research analysts expect that TELUS Co. will post 0.71 EPS for the current fiscal year.

TELUS Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Tuesday, March 11th were issued a dividend of $0.2829 per share. The ex-dividend date of this dividend was Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.81%. TELUS’s dividend payout ratio is 226.53%.

TELUS Company 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.