TELUS Corporation $TU Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. boosted its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 8.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,588,678 shares of the Wireless communications provider’s stock after purchasing an additional 208,532 shares during the period. Federated Hermes Inc.’s holdings in TELUS were worth $41,574,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TU. Blue Trust Inc. increased its holdings in shares of TELUS by 26.1% in the second quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock valued at $52,000 after buying an additional 667 shares in the last quarter. CWM LLC grew its holdings in shares of TELUS by 169.6% in the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock worth $59,000 after acquiring an additional 2,301 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of TELUS during the first quarter worth $134,000. EverSource Wealth Advisors LLC lifted its holdings in shares of TELUS by 67.7% during the second quarter. EverSource Wealth Advisors LLC now owns 8,698 shares of the Wireless communications provider’s stock valued at $140,000 after purchasing an additional 3,510 shares during the last quarter. Finally, Golden State Equity Partners acquired a new position in shares of TELUS in the 2nd quarter valued at $161,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Stock Performance

Shares of TU opened at $13.39 on Tuesday. The company has a market capitalization of $20.72 billion, a PE ratio of 24.34, a PEG ratio of 2.18 and a beta of 0.67. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.71 and a current ratio of 0.76. The company’s 50 day moving average price is $14.48 and its 200 day moving average price is $15.60. TELUS Corporation has a 52 week low of $12.80 and a 52 week high of $16.74.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). TELUS had a net margin of 5.71% and a return on equity of 8.76%. The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same period last year, the business earned $0.28 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Research analysts expect that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The company also recently announced 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. This represents a $1.67 dividend on an annualized basis and a yield of 12.5%. This is an increase from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, December 11th. TELUS’s dividend payout ratio is presently 220.00%.

Wall Street Analyst Weigh In

Several research firms have issued reports on TU. Weiss Ratings restated a “hold (c)” rating on shares of TELUS in a report on Monday, December 1st. Natl Bk Canada upgraded shares of TELUS from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. National Bankshares reaffirmed an “outperform” rating on shares of TELUS in a research note on Thursday. Canaccord Genuity Group upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Finally, Citigroup upgraded TELUS to a “buy” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.17.

TELUS 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.