TELUS Corporation $TU Shares Bought by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. increased its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 2.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 6,595,437 shares of the Wireless communications provider’s stock after acquiring an additional 139,120 shares during the period. TELUS accounts for approximately 2.0% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 16th largest holding. Letko Brosseau & Associates Inc.’s holdings in TELUS were worth $105,711,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in TELUS by 26.1% during the 2nd quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after purchasing an additional 667 shares in the last quarter. Walter Public Investments Inc. boosted its stake in TELUS by 2.0% during the second quarter. Walter Public Investments Inc. now owns 38,584 shares of the Wireless communications provider’s stock valued at $620,000 after buying an additional 765 shares in the last quarter. Cetera Investment Advisers grew its holdings in TELUS by 1.9% during the second quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock worth $739,000 after acquiring an additional 841 shares during the period. Assenagon Asset Management S.A. raised its position in TELUS by 10.4% in the second quarter. Assenagon Asset Management S.A. now owns 12,716 shares of the Wireless communications provider’s stock worth $204,000 after acquiring an additional 1,196 shares in the last quarter. Finally, Truist Financial Corp lifted its holdings in TELUS by 3.5% in the 2nd quarter. Truist Financial Corp now owns 39,397 shares of the Wireless communications provider’s stock valued at $633,000 after acquiring an additional 1,331 shares during the last quarter. Institutional investors own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TU. Barclays lowered their price objective on shares of TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of TELUS in a research report on Thursday, October 30th. One analyst has rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, TELUS has a consensus rating of “Hold” and an average target price of $17.75.

TELUS Stock Performance

Shares of TELUS stock opened at $14.54 on Friday. TELUS Corporation has a 12 month low of $13.24 and a 12 month high of $16.74. The company has a quick ratio of 0.81, a current ratio of 0.76 and a debt-to-equity ratio of 1.47. The stock has a market cap of $22.31 billion, a PE ratio of 26.43, a price-to-earnings-growth ratio of 6.12 and a beta of 0.71. The business has a fifty day simple moving average of $15.32 and a 200-day simple moving average of $15.85.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.02). TELUS had a return on equity of 8.76% and a net margin of 5.71%.The business had revenue of $3.67 billion during the quarter, compared to analysts’ expectations of $3.77 billion. During the same period in the prior year, the company posted $0.28 earnings per share. The firm’s revenue was up .1% on a year-over-year basis. On average, sell-side analysts anticipate that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 11th will be paid a $0.4184 dividend. The ex-dividend date is Thursday, December 11th. This represents a $1.67 annualized dividend and a yield of 11.5%. This is a boost from TELUS’s previous quarterly dividend of $0.30. TELUS’s dividend payout ratio (DPR) is currently 220.00%.

TELUS Company 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.