Public Employees Retirement System of Ohio Purchases New Shares in TELUS Corporation $TU

Public Employees Retirement System of Ohio purchased a new position in TELUS Corporation (NYSE:TU) (TSE:T) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 112,644 shares of the Wireless communications provider’s stock, valued at approximately $1,196,000.

Several other large investors have also modified their holdings of the business. Manchester Capital Management LLC boosted its holdings in TELUS by 320.0% during the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after acquiring an additional 1,712 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of TELUS by 129.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock valued at $33,000 after purchasing an additional 1,393 shares during the period. State of Wyoming purchased a new stake in shares of TELUS in the second quarter valued at approximately $61,000. Employees Retirement System of Texas bought a new position in TELUS in the third quarter worth approximately $64,000. Finally, Kestra Advisory Services LLC purchased a new position in TELUS during the 4th quarter worth $55,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on TU shares. Barclays set a $11.00 target price on TELUS and gave the company an “equal weight” rating in a research report on Tuesday, August 4th. Canadian Imperial Bank of Commerce lowered TELUS from a “strong-buy” rating to a “neutral” rating in a research note on Friday, July 31st. Desjardins downgraded TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 4th. Royal Bank Of Canada lowered shares of TELUS from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen cut shares of TELUS from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, TELUS presently has an average rating of “Reduce” and an average price target of $15.33.

TELUS Stock Down 0.1%

Shares of NYSE TU opened at $9.66 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.88. The stock has a market capitalization of $15.21 billion, a PE ratio of -23.57, a price-to-earnings-growth ratio of 22.65 and a beta of 0.63. The stock’s fifty day simple moving average is $10.02 and its two-hundred day simple moving average is $11.67. TELUS Corporation has a 12-month low of $9.20 and a 12-month high of $16.59.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.55 billion. TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%. As a group, analysts expect that TELUS Corporation will post 0.24 EPS for the current fiscal year.

TELUS Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Thursday, September 10th will be issued a $0.1875 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.75 dividend on an annualized basis and a yield of 7.8%. TELUS’s payout ratio is currently -131.71%.

About TELUS

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.