Quantinno Capital Management LP Purchases 123,303 Shares of TELUS Co. (NYSE:TU)

Quantinno Capital Management LP increased its position in TELUS Co. (NYSE:TU) (TSE:T) by 190.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,075 shares of the Wireless communications provider’s stock after buying an additional 123,303 shares during the period. Quantinno Capital Management LP’s holdings in TELUS were worth $2,549,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of Nova Scotia lifted its position in TELUS by 28.3% in the fourth quarter. Bank of Nova Scotia now owns 30,219,141 shares of the Wireless communications provider’s stock worth $409,662,000 after buying an additional 6,659,564 shares during the last quarter. Norges Bank purchased a new stake in shares of TELUS in the fourth quarter valued at $70,212,000. Mufg Securities Canada LTD. lifted its holdings in shares of TELUS by 68.9% in the 4th quarter. Mufg Securities Canada LTD. now owns 2,236,163 shares of the Wireless communications provider’s stock worth $30,299,000 after acquiring an additional 912,277 shares during the last quarter. Vanguard Group Inc. grew its holdings in TELUS by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 25,801,407 shares of the Wireless communications provider’s stock valued at $349,841,000 after purchasing an additional 903,921 shares during the last quarter. Finally, Guardian Partners Inc. bought a new stake in TELUS in the fourth quarter worth about $12,325,000. 49.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on TU shares. Cormark lowered TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Canaccord Genuity Group upped their price target on shares of TELUS from $20.25 to $21.50 and gave the stock a “hold” rating in a report on Monday, May 12th. Bank of America lowered shares of TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, National Bankshares reissued a “sector perform” rating on shares of TELUS in a research note on Monday, May 12th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $21.50.

TELUS Stock Performance

TU stock opened at $15.95 on Wednesday. TELUS Co. has a one year low of $13.24 and a one year high of $17.27. The firm has a market cap of $24.15 billion, a price-to-earnings ratio of 32.55, a PEG ratio of 5.18 and a beta of 0.73. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. The firm has a 50-day simple moving average of $14.84 and a two-hundred day simple moving average of $14.82.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be given a dividend of $0.2989 per share. This is a boost from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date is Tuesday, June 10th. This represents a $1.20 dividend on an annualized basis and a yield of 7.50%. TELUS’s dividend payout ratio is presently 201.75%.

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.