112,644 Shares in TELUS Corporation $TU Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 112,644 shares of the Wireless communications provider’s stock, valued at approximately $1,196,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Manchester Capital Management LLC grew its holdings in TELUS by 320.0% during the 4th quarter. Manchester Capital Management LLC now owns 2,247 shares of the Wireless communications provider’s stock valued at $30,000 after buying an additional 1,712 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of TELUS by 129.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 2,473 shares of the Wireless communications provider’s stock worth $33,000 after buying an additional 1,393 shares in the last quarter. State of Wyoming purchased a new position in shares of TELUS in the second quarter worth $61,000. Employees Retirement System of Texas bought a new position in shares of TELUS during the third quarter worth $64,000. Finally, Kestra Advisory Services LLC bought a new position in shares of TELUS during the fourth quarter worth $55,000. 49.40% of the stock is currently owned by institutional investors.

TELUS Price Performance

TELUS stock opened at $9.66 on Wednesday. TELUS Corporation has a 52-week low of $9.20 and a 52-week high of $16.59. The company has a quick ratio of 0.62, a current ratio of 0.67 and a debt-to-equity ratio of 1.88. The firm’s fifty day moving average is $10.02 and its 200 day moving average is $11.67. The company has a market cap of $15.21 billion, a price-to-earnings ratio of -23.57, a PEG ratio of 22.65 and a beta of 0.63.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, July 31st. The Wireless communications provider reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.04). TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%.The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.55 billion. Sell-side analysts forecast that TELUS Corporation will post 0.24 EPS for the current fiscal year.

TELUS Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Thursday, September 10th will be given a $0.1875 dividend. The ex-dividend date is Thursday, September 10th. This represents a $0.75 annualized dividend and a yield of 7.8%. TELUS’s dividend payout ratio (DPR) is currently -131.71%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Weiss Ratings downgraded shares of TELUS from a “sell (d+)” rating to a “sell (d)” rating in a report on Wednesday, August 5th. Morgan Stanley downgraded shares of TELUS to an “underweight” rating in a report on Tuesday, July 21st. Wall Street Zen lowered TELUS from a “hold” rating to a “sell” rating in a research report on Saturday, August 1st. Raymond James Financial initiated coverage on TELUS in a report on Wednesday, July 15th. They issued a “market perform” rating on the stock. Finally, National Bank Financial lowered TELUS from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, August 4th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $15.33.

About TELUS

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.