AEGON ASSET MANAGEMENT UK Plc Purchases 22,718 Shares of TELUS Corporation $TU

AEGON ASSET MANAGEMENT UK Plc boosted its position in TELUS Corporation (NYSE:TU) (TSE:T) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,054,615 shares of the Wireless communications provider’s stock after purchasing an additional 22,718 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in TELUS were worth $16,890,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in TU. Farther Finance Advisors LLC raised its holdings in TELUS by 71.9% in the first quarter. Farther Finance Advisors LLC now owns 2,321 shares of the Wireless communications provider’s stock worth $33,000 after purchasing an additional 971 shares in the last quarter. Blue Trust Inc. raised its holdings in TELUS by 26.1% in the second quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock worth $52,000 after purchasing an additional 667 shares in the last quarter. CWM LLC raised its holdings in TELUS by 169.6% in the second quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 2,301 shares in the last quarter. Trust Co. of Vermont raised its holdings in TELUS by 10.5% in the first quarter. Trust Co. of Vermont now owns 8,423 shares of the Wireless communications provider’s stock worth $121,000 after purchasing an additional 800 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd bought a new position in TELUS in the first quarter worth $134,000. Institutional investors own 49.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TU shares. Scotiabank reiterated an “outperform” rating on shares of TELUS in a report on Tuesday, July 15th. Weiss Ratings restated a “hold (c)” rating on shares of TELUS in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.50.

TELUS Price Performance

Shares of NYSE:TU opened at $15.14 on Wednesday. TELUS Corporation has a 1-year low of $13.24 and a 1-year high of $16.74. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.86 and a quick ratio of 0.81. The business has a fifty day moving average price of $16.02 and a 200-day moving average price of $15.80. The company has a market capitalization of $23.23 billion, a PE ratio of 32.90, a PEG ratio of 4.51 and a beta of 0.71.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). TELUS had a net margin of 4.67% and a return on equity of 9.10%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the business earned $0.25 earnings per share. TELUS’s revenue was up 2.2% compared to the same quarter last year. As a group, equities analysts expect that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 1st. Investors of record on Wednesday, September 10th were issued a $0.3019 dividend. This represents a $1.21 annualized dividend and a yield of 8.0%. The ex-dividend date was Wednesday, September 10th. This is a positive change from TELUS’s previous quarterly dividend of $0.30. TELUS’s dividend payout ratio is 263.04%.

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.