Letko Brosseau & Associates Inc. Increases Holdings in TELUS Corporation $TU

Letko Brosseau & Associates Inc. lifted its position in TELUS Corporation (NYSE:TU) (TSE:T) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,775,387 shares of the Wireless communications provider’s stock after purchasing an additional 148,325 shares during the quarter. TELUS comprises 1.5% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 23rd largest position. Letko Brosseau & Associates Inc.’s holdings in TELUS were worth $89,416,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. TD Asset Management Inc raised its stake in shares of TELUS by 1.5% in the third quarter. TD Asset Management Inc now owns 36,863,219 shares of the Wireless communications provider’s stock worth $580,740,000 after purchasing an additional 550,574 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of TELUS by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 29,470,046 shares of the Wireless communications provider’s stock worth $388,415,000 after purchasing an additional 916,459 shares during the last quarter. Scotia Capital Inc. grew its holdings in TELUS by 4.5% during the third quarter. Scotia Capital Inc. now owns 19,687,766 shares of the Wireless communications provider’s stock worth $310,129,000 after acquiring an additional 845,682 shares during the period. Fiera Capital Corp grew its holdings in TELUS by 10.7% during the third quarter. Fiera Capital Corp now owns 17,867,796 shares of the Wireless communications provider’s stock worth $281,326,000 after acquiring an additional 1,725,982 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in TELUS by 40.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 9,033,455 shares of the Wireless communications provider’s stock worth $142,387,000 after acquiring an additional 2,583,074 shares during the period. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

TELUS Stock Up 0.9%

TELUS stock opened at $12.28 on Wednesday. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 1.59. TELUS Corporation has a 52 week low of $11.69 and a 52 week high of $16.74. The business’s 50-day moving average price is $12.45 and its 200 day moving average price is $13.05. The firm has a market cap of $19.32 billion, a price-to-earnings ratio of 27.90, a price-to-earnings-growth ratio of 11.96 and a beta of 0.61.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. TELUS had a return on equity of 8.29% and a net margin of 4.54%.The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the company earned $0.26 earnings per share. TELUS’s quarterly revenue was down .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th will be issued a $0.4184 dividend. This represents a $1.67 annualized dividend and a yield of 13.6%. The ex-dividend date of this dividend is Wednesday, June 10th. TELUS’s dividend payout ratio (DPR) is presently 279.55%.

Wall Street Analysts Forecast Growth

TU has been the topic of several analyst reports. Weiss Ratings lowered TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th. Bank of America raised TELUS from a “neutral” rating to a “buy” rating and raised their target price for the stock from $14.50 to $16.00 in a report on Tuesday, March 10th. TD Cowen raised TELUS from a “hold” rating to a “buy” rating in a report on Tuesday, April 28th. Wall Street Zen raised TELUS from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, TD Securities raised TELUS from a “buy” rating to a “buy” rating in a report on Tuesday, April 28th. Five analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, TELUS has a consensus rating of “Hold” and an average price target of $16.33.

TELUS Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.