Swiss National Bank Boosts Stock Position in TELUS Corporation $TU

Swiss National Bank lifted its position in TELUS Corporation (NYSE:TU) (TSE:T) by 28.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,722,165 shares of the Wireless communications provider’s stock after buying an additional 379,200 shares during the quarter. Swiss National Bank owned approximately 0.11% of TELUS worth $22,103,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Manchester Capital Management LLC lifted its position in shares of TELUS by 320.0% during the fourth quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock worth $30,000 after purchasing an additional 1,712 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new position in shares of TELUS in the fourth quarter valued at approximately $33,000. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its holdings in shares of TELUS by 129.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock valued at $33,000 after purchasing an additional 1,393 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in TELUS during the 4th quarter worth approximately $55,000. Finally, State of Wyoming purchased a new stake in TELUS during the 2nd quarter worth approximately $61,000. 49.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on TU. Raymond James Financial started coverage on shares of TELUS in a research report on Wednesday, July 15th. They issued a “market perform” rating for the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of TELUS in a research note on Friday, July 17th. Canaccord Genuity Group lowered TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. TD Securities raised TELUS from a “buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Finally, Morgan Stanley downgraded TELUS to an “underweight” rating in a report on Tuesday. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.67.

TELUS Trading Down 1.0%

NYSE TU opened at $10.11 on Friday. TELUS Corporation has a 52 week low of $9.95 and a 52 week high of $16.72. The firm has a 50 day moving average of $11.42 and a two-hundred day moving average of $12.57. The company has a quick ratio of 0.63, a current ratio of 0.67 and a debt-to-equity ratio of 1.59. The stock has a market capitalization of $15.91 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 7.65 and a beta of 0.63.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The company’s revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $0.26 EPS. As a group, research analysts expect that TELUS Corporation will post 0.74 EPS for the current fiscal year.

TELUS Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th were issued a dividend of $0.4184 per share. This represents a $1.67 dividend on an annualized basis and a yield of 16.6%. The ex-dividend date of this dividend was Wednesday, June 10th. TELUS’s payout ratio is 275.00%.

About TELUS

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.