TD Asset Management Inc Raises Stock Holdings in TELUS Corporation $TU

TD Asset Management Inc raised its holdings in TELUS Corporation (NYSE:TU) (TSE:T) by 1.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 36,863,219 shares of the Wireless communications provider’s stock after purchasing an additional 550,574 shares during the period. TD Asset Management Inc’s holdings in TELUS were worth $580,740,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Citigroup Inc. lifted its position in shares of TELUS by 69.2% during the 3rd quarter. Citigroup Inc. now owns 1,932,604 shares of the Wireless communications provider’s stock valued at $30,446,000 after buying an additional 790,288 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in TELUS by 15.9% during the third quarter. Hillsdale Investment Management Inc. now owns 26,685 shares of the Wireless communications provider’s stock worth $420,000 after acquiring an additional 3,652 shares during the period. Fiera Capital Corp lifted its holdings in TELUS by 10.7% during the third quarter. Fiera Capital Corp now owns 17,867,796 shares of the Wireless communications provider’s stock valued at $281,326,000 after purchasing an additional 1,725,982 shares in the last quarter. Vanguard Group Inc. lifted its holdings in TELUS by 4.6% during the third quarter. Vanguard Group Inc. now owns 28,553,587 shares of the Wireless communications provider’s stock valued at $449,748,000 after purchasing an additional 1,255,029 shares in the last quarter. Finally, Tobam grew its position in shares of TELUS by 3.6% in the third quarter. Tobam now owns 112,948 shares of the Wireless communications provider’s stock valued at $1,781,000 after purchasing an additional 3,933 shares during the period. 49.40% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TU shares. TD Securities restated a “buy” rating on shares of TELUS in a research report on Friday, February 13th. Citigroup upgraded TELUS to a “buy” rating in a research note on Thursday, December 4th. Wall Street Zen cut TELUS from a “hold” rating to a “sell” rating in a report on Saturday. BMO Capital Markets lowered TELUS from an “outperform” rating to a “market perform” rating in a research note on Thursday, December 11th. Finally, Canaccord Genuity Group upgraded TELUS from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Five analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $18.17.

TELUS Stock Down 0.2%

TU stock opened at $13.56 on Wednesday. TELUS Corporation has a one year low of $12.54 and a one year high of $16.74. The firm has a market cap of $20.98 billion, a PE ratio of 26.07, a PEG ratio of 1.60 and a beta of 0.67. The firm’s 50 day moving average price is $13.48 and its 200-day moving average price is $14.50. The company has a debt-to-equity ratio of 1.65, a quick ratio of 0.81 and a current ratio of 0.86.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.03). TELUS had a return on equity of 8.42% and a net margin of 5.42%.The business had revenue of $3.83 billion for the quarter, compared to analyst estimates of $3.85 billion. During the same period last year, the business earned $0.25 EPS. On average, equities research analysts anticipate that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be paid a $0.4184 dividend. This represents a $1.67 dividend on an annualized basis and a dividend yield of 12.3%. The ex-dividend date of this dividend is Wednesday, March 11th. TELUS’s payout ratio is 230.77%.

TELUS Profile

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.