Bessemer Group Inc. Has $54.97 Million Holdings in TELUS Corporation $TU

Bessemer Group Inc. boosted its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 1,981,964.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 3,428,972 shares of the Wireless communications provider’s stock after acquiring an additional 3,428,799 shares during the quarter. Bessemer Group Inc.’s holdings in TELUS were worth $54,969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TU. Goldman Sachs Group Inc. increased its position in TELUS by 196.2% during the first quarter. Goldman Sachs Group Inc. now owns 11,836,479 shares of the Wireless communications provider’s stock worth $169,735,000 after buying an additional 7,840,264 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its position in TELUS by 9.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 22,899,251 shares of the Wireless communications provider’s stock worth $328,588,000 after buying an additional 1,938,521 shares during the last quarter. Scotia Capital Inc. increased its position in TELUS by 4.7% during the first quarter. Scotia Capital Inc. now owns 18,553,552 shares of the Wireless communications provider’s stock worth $266,146,000 after buying an additional 831,282 shares during the last quarter. Forge First Asset Management Inc. acquired a new position in TELUS during the first quarter worth approximately $8,937,000. Finally, Vanguard Group Inc. increased its position in TELUS by 1.5% during the first quarter. Vanguard Group Inc. now owns 26,185,917 shares of the Wireless communications provider’s stock worth $375,585,000 after buying an additional 384,510 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Trading Down 0.8%

Shares of NYSE:TU opened at $14.94 on Tuesday. TELUS Corporation has a 12-month low of $13.24 and a 12-month high of $16.74. The stock has a market cap of $22.93 billion, a PE ratio of 32.47, a P/E/G ratio of 4.48 and a beta of 0.71. The business has a 50 day moving average of $15.83 and a 200-day moving average of $15.87. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.63 billion. TELUS had a net margin of 4.67% and a return on equity of 9.10%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. As a group, equities research analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th were paid a $0.3019 dividend. This represents a $1.21 annualized dividend and a dividend yield of 8.1%. This is an increase from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date was Wednesday, September 10th. TELUS’s dividend payout ratio is presently 263.04%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TU shares. Weiss Ratings reissued a “hold (c)” rating on shares of TELUS in a research report on Wednesday, October 8th. Scotiabank restated an “outperform” rating on shares of TELUS in a report on Tuesday, July 15th. One equities research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $21.50.

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.