TD Asset Management Inc. Has $900.51 Million Position in TELUS Co. (NYSE:TU)
TD Asset Management Inc. raised its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 2.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 24,307,989 shares of the Wireless communications provider’s stock after acquiring an additional 536,599 shares during the quarter. TELUS comprises 1.3% of TD Asset Management Inc.’s holdings, making the stock its 12th biggest holding. TD Asset Management Inc.’s holdings in TELUS were worth $900,511,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the business. Raymond James Trust N.A. grew its position in shares of TELUS by 4.5% in the 2nd quarter. Raymond James Trust N.A. now owns 9,131 shares of the Wireless communications provider’s stock valued at $337,000 after acquiring an additional 396 shares during the period. Addenda Capital Inc. boosted its holdings in shares of TELUS by 1.3% during the 2nd quarter. Addenda Capital Inc. now owns 42,080 shares of the Wireless communications provider’s stock worth $1,577,000 after buying an additional 540 shares during the period. Northwest Bancshares Inc. boosted its holdings in shares of TELUS by 1.2% during the 2nd quarter. Northwest Bancshares Inc. now owns 84,563 shares of the Wireless communications provider’s stock worth $3,121,000 after buying an additional 1,035 shares during the period. Advisor Group Inc. boosted its holdings in shares of TELUS by 36.7% during the 2nd quarter. Advisor Group Inc. now owns 4,451 shares of the Wireless communications provider’s stock worth $164,000 after buying an additional 1,196 shares during the period. Finally, Creative Planning boosted its holdings in shares of TELUS by 10.4% during the 2nd quarter. Creative Planning now owns 12,752 shares of the Wireless communications provider’s stock worth $471,000 after buying an additional 1,201 shares during the period. Hedge funds and other institutional investors own 51.41% of the company’s stock.
NYSE TU traded up $0.29 during trading on Tuesday, reaching $36.08. The company’s stock had a trading volume of 38,492 shares, compared to its average volume of 368,546. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.71 and a quick ratio of 0.66. The stock has a market cap of $21.75 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 2.02 and a beta of 0.71. TELUS Co. has a 12 month low of $32.46 and a 12 month high of $38.32. The company has a 50 day moving average of $36.67.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be issued a $0.426 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.70 dividend on an annualized basis and a yield of 4.72%. This is an increase from TELUS’s previous quarterly dividend of $0.42. TELUS’s payout ratio is currently 78.04%.
TU has been the subject of several research analyst reports. Canaccord Genuity downgraded shares of TELUS from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Bank of America reaffirmed a “hold” rating on shares of TELUS in a report on Friday, May 10th. Citigroup downgraded shares of TELUS from a “buy” rating to a “neutral” rating in a report on Wednesday, July 3rd. Zacks Investment Research raised shares of TELUS from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Finally, Barclays reaffirmed a “buy” rating and set a $41.00 target price on shares of TELUS in a report on Sunday, May 12th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $41.00.
TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.
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