Stifel Financial Corp increased its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 250,481 shares of the Wireless communications provider’s stock after purchasing an additional 2,332 shares during the quarter. Stifel Financial Corp’s holdings in TELUS were worth $4,201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its holdings in shares of TELUS by 176.2% in the 1st quarter. The Manufacturers Life Insurance Company now owns 29,491,260 shares of the Wireless communications provider’s stock valued at $461,011,000 after acquiring an additional 18,814,427 shares during the last quarter. Capital Research Global Investors grew its stake in TELUS by 133.1% during the 1st quarter. Capital Research Global Investors now owns 19,079,481 shares of the Wireless communications provider’s stock worth $301,655,000 after buying an additional 10,894,628 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in TELUS by 147.1% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,567,095 shares of the Wireless communications provider’s stock worth $229,868,000 after buying an additional 8,671,193 shares during the last quarter. 1832 Asset Management L.P. grew its stake in TELUS by 120.0% during the 1st quarter. 1832 Asset Management L.P. now owns 15,760,065 shares of the Wireless communications provider’s stock worth $241,735,000 after buying an additional 8,597,260 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in TELUS by 56.8% during the 1st quarter. Mackenzie Financial Corp now owns 17,646,798 shares of the Wireless communications provider’s stock worth $276,159,000 after buying an additional 6,389,235 shares during the last quarter. Hedge funds and other institutional investors own 48.96% of the company’s stock.

TU has been the subject of a number of recent research reports. Zacks Investment Research upgraded TELUS from a “sell” rating to a “hold” rating and set a $18.00 price objective for the company in a research note on Monday, June 1st. Royal Bank of Canada upped their price objective on TELUS from $24.00 to $25.00 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Canaccord Genuity upped their price objective on TELUS from $23.00 to $24.00 and gave the company a “hold” rating in a report on Wednesday, June 3rd. Scotiabank upped their target price on TELUS from $27.00 to $27.50 and gave the company an “outperform” rating in a report on Tuesday, August 4th. Finally, Veritas Investment Research raised TELUS to a “buy” rating in a report on Tuesday, August 4th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $25.89.

Shares of NYSE TU opened at $18.22 on Wednesday. The company has a debt-to-equity ratio of 1.45, a quick ratio of 0.84 and a current ratio of 0.91. The firm has a market cap of $23.39 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 3.61 and a beta of 0.70. The business’s 50-day simple moving average is $18.11 and its 200-day simple moving average is $17.04. TELUS Co. has a 52 week low of $13.54 and a 52 week high of $20.91.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.03). The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.65 billion. TELUS had a net margin of 9.53% and a return on equity of 13.33%. As a group, equities research analysts forecast that TELUS Co. will post 0.88 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be paid a dividend of $0.2169 per share. This is an increase from TELUS’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, September 9th. This represents a $0.87 annualized dividend and a yield of 4.76%. TELUS’s dividend payout ratio is presently 80.91%.

TELUS Profile

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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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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