K.J. Harrison & Partners Inc Has $2.90 Million Stake in TELUS Corporation $TU

K.J. Harrison & Partners Inc grew its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 99.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 180,964 shares of the Wireless communications provider’s stock after acquiring an additional 90,014 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in TELUS were worth $2,901,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of TU. D.A. Davidson & CO. bought a new stake in shares of TELUS during the first quarter worth about $206,000. Goldman Sachs Group Inc. grew its holdings in shares of 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 purchasing an additional 7,840,264 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of TELUS by 39.7% during the first quarter. Bank of New York Mellon Corp now owns 651,054 shares of the Wireless communications provider’s stock worth $9,336,000 after purchasing an additional 185,020 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in TELUS by 14.0% in the first quarter. Principal Financial Group Inc. now owns 64,200 shares of the Wireless communications provider’s stock valued at $921,000 after acquiring an additional 7,900 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in TELUS by 43.4% in the first quarter. American Century Companies Inc. now owns 171,551 shares of the Wireless communications provider’s stock valued at $2,461,000 after acquiring an additional 51,886 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Stock Performance

NYSE:TU opened at $14.65 on Monday. The company has a fifty day moving average of $15.69 and a 200-day moving average of $15.88. The firm has a market capitalization of $22.48 billion, a P/E ratio of 31.84, a P/E/G ratio of 4.36 and a beta of 0.71. 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 Corporation has a twelve month low of $13.24 and a twelve month high of $16.74.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share 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 business’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. As a group, sell-side analysts anticipate that TELUS Corporation will post 0.71 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on TU. Weiss Ratings reiterated a “hold (c-)” rating on shares of TELUS in a report on Thursday. Scotiabank reiterated an “outperform” rating on shares of TELUS in a report on Tuesday, July 15th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.