TELUS Corporation $TU Shares Bought by Blue Trust Inc.

Blue Trust Inc. lifted its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 26.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,227 shares of the Wireless communications provider’s stock after purchasing an additional 667 shares during the period. Blue Trust Inc.’s holdings in TELUS were worth $52,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in TU. Farther Finance Advisors LLC raised its position in shares of TELUS by 71.9% during the 1st quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock valued at $33,000 after buying an additional 971 shares during the period. Trust Co. of Vermont raised its position in shares of TELUS by 10.5% during the 1st quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider’s stock valued at $121,000 after buying an additional 800 shares during the period. Caitong International Asset Management Co. Ltd purchased a new stake in shares of TELUS during the 1st quarter valued at approximately $134,000. TD Private Client Wealth LLC raised its position in shares of TELUS by 175.4% during the 1st quarter. TD Private Client Wealth LLC now owns 10,400 shares of the Wireless communications provider’s stock valued at $149,000 after buying an additional 6,624 shares during the period. Finally, JCIC Asset Management Inc. raised its position in shares of TELUS by 8.0% during the 1st quarter. JCIC Asset Management Inc. now owns 10,784 shares of the Wireless communications provider’s stock valued at $155,000 after buying an additional 795 shares during the period. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Stock Up 1.8%

NYSE:TU opened at $15.35 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.72. The stock’s fifty day moving average is $15.97 and its two-hundred day moving average is $15.82. TELUS Corporation has a 52 week low of $13.24 and a 52 week high of $16.74. The stock has a market capitalization of $23.56 billion, a price-to-earnings ratio of 33.37, a price-to-earnings-growth ratio of 4.54 and a beta of 0.71.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). TELUS had a return on equity of 9.10% and a net margin of 4.67%.The firm had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.63 billion. During the same quarter last year, the company earned $0.25 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. Research analysts anticipate that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Stockholders of record on Wednesday, September 10th were given a dividend of $0.3019 per share. This is an increase from TELUS’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a dividend yield of 7.9%. The ex-dividend date of this dividend was Wednesday, September 10th. TELUS’s dividend payout ratio is currently 263.04%.

Wall Street Analysts Forecast Growth

TU has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of TELUS in a research report on Wednesday, October 8th. Scotiabank reaffirmed an “outperform” rating on shares of TELUS in a research report on Tuesday, July 15th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $21.50.

TELUS Company 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.