CVA Family Office LLC Buys New Position in TELUS Co. (NYSE:TU)

CVA Family Office LLC purchased a new position in TELUS Co. (NYSE:TU) (TSE:T) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,779 shares of the Wireless communications provider’s stock, valued at approximately $49,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of TELUS during the 4th quarter worth $91,279,000. Mackenzie Financial Corp increased its position in shares of TELUS by 8.3% in the fourth quarter. Mackenzie Financial Corp now owns 59,637,886 shares of the Wireless communications provider’s stock worth $1,149,047,000 after acquiring an additional 4,574,843 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of TELUS by 8.0% during the fourth quarter. 1832 Asset Management L.P. now owns 27,323,495 shares of the Wireless communications provider’s stock valued at $527,617,000 after acquiring an additional 2,021,793 shares during the period. Triasima Portfolio Management inc. acquired a new stake in shares of TELUS during the fourth quarter valued at approximately $38,447,000. Finally, Quadrature Capital Ltd acquired a new position in TELUS in the 3rd quarter worth approximately $28,436,000. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Stock Up 1.3 %

TELUS stock opened at $15.91 on Thursday. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.35. TELUS Co. has a 1-year low of $15.47 and a 1-year high of $21.34. The firm’s fifty day simple moving average is $17.45 and its 200-day simple moving average is $17.37. The company has a market capitalization of $23.48 billion, a P/E ratio of 37.00, a P/E/G ratio of 3.52 and a beta of 0.73.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, February 9th. The Wireless communications provider reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. TELUS had a return on equity of 7.81% and a net margin of 4.18%. The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.24 billion. During the same quarter in the prior year, the firm posted $0.17 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. Sell-side analysts forecast that TELUS Co. will post 0.78 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be paid a $0.2793 dividend. The ex-dividend date of this dividend is Friday, March 8th. This is a positive change from TELUS’s previous quarterly dividend of $0.27. This represents a $1.12 dividend on an annualized basis and a yield of 7.02%. TELUS’s dividend payout ratio (DPR) is presently 258.14%.

Wall Street Analyst Weigh In

TU has been the subject of a number of research reports. BMO Capital Markets decreased their price objective on TELUS from $27.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, February 12th. JPMorgan Chase & Co. downgraded shares of TELUS from an “overweight” rating to a “neutral” rating in a research report on Thursday, January 4th. Scotiabank reiterated a “sector perform” rating and issued a $26.00 target price (down previously from $28.00) on shares of TELUS in a research report on Monday. Finally, StockNews.com cut shares of TELUS from a “hold” rating to a “sell” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.72.

TELUS 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.