Vanguard Group Inc. Increases Stake in TELUS Corporation (NYSE:TU)

Vanguard Group Inc. increased its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 4.1% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,680,743 shares of the Wireless communications provider’s stock after buying an additional 182,298 shares during the period. Vanguard Group Inc. owned approximately 0.79% of TELUS Corporation worth $152,031,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Korea Investment CORP purchased a new position in shares of TELUS Corporation during the first quarter valued at about $156,000. Mckinley Capital Management LLC Delaware purchased a new position in shares of TELUS Corporation during the first quarter valued at about $193,000. ING Groep NV purchased a new position in shares of TELUS Corporation during the first quarter valued at about $212,000. Financial Counselors Inc. raised its position in shares of TELUS Corporation by 1.8% in the first quarter. Financial Counselors Inc. now owns 6,600 shares of the Wireless communications provider’s stock valued at $214,000 after buying an additional 118 shares during the period. Finally, Raymond James Trust N.A. raised its position in TELUS Corporation by 7.3% in the first quarter. Raymond James Trust N.A. now owns 6,854 shares of the Wireless communications provider’s stock valued at $222,000 after buying an additional 465 shares during the last quarter. Hedge funds and other institutional investors own 52.66% of the company’s stock.

TELUS Corporation (NYSE:TU) traded up 0.08% on Wednesday, hitting $35.55. The company had a trading volume of 469,774 shares. The company has a market capitalization of $21.01 billion, a P/E ratio of 20.75 and a beta of 0.89. TELUS Corporation has a one year low of $30.31 and a one year high of $36.77. The stock’s 50-day moving average price is $35.49 and its 200 day moving average price is $33.72.

TELUS Corporation (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by $0.05. The business had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.26 billion. TELUS Corporation had a net margin of 9.55% and a return on equity of 18.81%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.70 earnings per share. On average, analysts expect that TELUS Corporation will post $2.11 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be paid a dividend of $0.3884 per share. This represents a $1.55 dividend on an annualized basis and a yield of 4.37%. The ex-dividend date of this dividend is Thursday, September 7th. TELUS Corporation’s dividend payout ratio (DPR) is currently 92.41%.

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Several research firms have weighed in on TU. BidaskClub raised TELUS Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. Barclays PLC increased their target price on TELUS Corporation from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday. BMO Capital Markets increased their target price on TELUS Corporation from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday. Zacks Investment Research raised TELUS Corporation from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Friday, July 14th. Finally, Canaccord Genuity reissued a “buy” rating and issued a $47.00 target price on shares of TELUS Corporation in a research note on Monday, May 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. TELUS Corporation currently has a consensus rating of “Buy” and an average price target of $43.50.

TELUS Corporation Company Profile

TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.

Institutional Ownership by Quarter for TELUS Corporation (NYSE:TU)

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