Jarislowsky Fraser Ltd Purchases 19,410 Shares of TELUS Corporation (TU)

Jarislowsky Fraser Ltd boosted its position in TELUS Corporation (NYSE:TU) (TSE:T) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 432,358 shares of the Wireless communications provider’s stock after purchasing an additional 19,410 shares during the period. Jarislowsky Fraser Ltd owned 0.07% of TELUS Corporation worth $15,515,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TU. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of TELUS Corporation by 1.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 766,058 shares of the Wireless communications provider’s stock valued at $26,400,000 after buying an additional 14,252 shares during the period. Scotia Capital Inc. increased its stake in shares of TELUS Corporation by 4.0% in the second quarter. Scotia Capital Inc. now owns 2,232,103 shares of the Wireless communications provider’s stock valued at $77,066,000 after buying an additional 85,659 shares during the period. Federated Investors Inc. PA increased its stake in shares of TELUS Corporation by 8.7% in the second quarter. Federated Investors Inc. PA now owns 229,895 shares of the Wireless communications provider’s stock valued at $7,936,000 after buying an additional 18,473 shares during the period. Vanguard Group Inc. increased its stake in shares of TELUS Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 4,680,743 shares of the Wireless communications provider’s stock valued at $152,031,000 after buying an additional 182,298 shares during the period. Finally, Sentry Investments Corp. increased its stake in shares of TELUS Corporation by 101.7% in the second quarter. Sentry Investments Corp. now owns 341,800 shares of the Wireless communications provider’s stock valued at $15,302,000 after buying an additional 172,325 shares during the period. 50.69% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently weighed in on the company. Barclays PLC increased their price target on TELUS Corporation from $41.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday. Royal Bank Of Canada raised TELUS Corporation from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $47.00 to $51.00 in a research note on Friday. BidaskClub raised TELUS Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. Zacks Investment Research cut TELUS Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Finally, Scotiabank raised TELUS Corporation from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $45.20.

Shares of TELUS Corporation (TU) opened at $38.06 on Tuesday. TELUS Corporation has a 52-week low of $30.31 and a 52-week high of $38.47. The company has a debt-to-equity ratio of 1.44, a quick ratio of 0.48 and a current ratio of 0.55. The company has a market capitalization of $22,720.50, a PE ratio of 19.22, a P/E/G ratio of 2.29 and a beta of 0.92.

TELUS Corporation (NYSE:TU) (TSE:T) last announced its earnings results on Friday, August 11th. The Wireless communications provider reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.05). TELUS Corporation had a net margin of 9.61% and a return on equity of 18.72%. The business had revenue of $3.27 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. research analysts forecast that TELUS Corporation will post 2.09 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be given a dividend of $0.505 per share. This is a positive change from TELUS Corporation’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.02 annualized dividend and a dividend yield of 5.31%. TELUS Corporation’s dividend payout ratio is presently 97.53%.

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TELUS Corporation 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.

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

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