TELUS Co. (NYSE:TU) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board raised its position in TELUS Co. (NYSE:TU) (TSE:T) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,198 shares of the Wireless communications provider’s stock after purchasing an additional 1,500 shares during the quarter. Public Sector Pension Investment Board’s holdings in TELUS were worth $1,297,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of TELUS by 188.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 135,825 shares of the Wireless communications provider’s stock worth $2,279,000 after acquiring an additional 88,771 shares during the last quarter. FMR LLC lifted its holdings in shares of TELUS by 192.0% in the 3rd quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider’s stock worth $22,257,000 after acquiring an additional 872,235 shares during the last quarter. Mirabella Financial Services LLP acquired a new position in shares of TELUS in the 3rd quarter worth approximately $4,521,000. Cerity Partners LLC lifted its holdings in shares of TELUS by 7.5% in the 3rd quarter. Cerity Partners LLC now owns 42,341 shares of the Wireless communications provider’s stock worth $710,000 after acquiring an additional 2,964 shares during the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of TELUS by 15.4% in the 3rd quarter. Citigroup Inc. now owns 390,486 shares of the Wireless communications provider’s stock worth $6,558,000 after acquiring an additional 52,105 shares during the last quarter. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Price Performance

Shares of TU opened at $15.72 on Friday. TELUS Co. has a fifty-two week low of $14.63 and a fifty-two week high of $19.01. The firm’s 50 day moving average price is $15.86 and its 200 day moving average price is $16.01. The company has a market cap of $23.58 billion, a P/E ratio of 33.45, a PEG ratio of 2.26 and a beta of 0.73. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 1.50.

TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the firm earned $0.19 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, research analysts forecast that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th will be given a $0.297 dividend. The ex-dividend date is Wednesday, December 11th. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents a $1.19 dividend on an annualized basis and a dividend yield of 7.56%. TELUS’s dividend payout ratio is currently 253.19%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Scotiabank upgraded shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, TELUS has a consensus rating of “Hold” and an average target price of $26.00.

About TELUS

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.