Letko Brosseau & Associates Inc. Purchases 3,429,575 Shares of TELUS Corporation $TU

Letko Brosseau & Associates Inc. raised its position in TELUS Corporation (NYSE:TU) (TSE:T) by 33.6% during the third quarter, Holdings Channel reports. The firm owned 13,649,828 shares of the Wireless communications provider’s stock after purchasing an additional 3,429,575 shares during the period. TELUS comprises 1.5% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 24th largest holding. Letko Brosseau & Associates Inc.’s holdings in TELUS were worth $114,890,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Nykredit A S bought a new stake in shares of TELUS in the 2nd quarter valued at $33,000. SBI Securities Co. Ltd. raised its stake in TELUS by 79.6% during the third quarter. SBI Securities Co. Ltd. now owns 3,695 shares of the Wireless communications provider’s stock worth $31,000 after buying an additional 1,638 shares during the last quarter. Trust Co. of Vermont bought a new position in TELUS during the second quarter worth $55,000. ABN Amro Investment Solutions acquired a new position in TELUS in the first quarter valued at $150,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new position in TELUS in the second quarter valued at $162,000. 49.40% of the stock is owned by institutional investors.

TELUS Price Performance

TELUS stock opened at $8.53 on Friday. The stock has a market capitalization of $13.55 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 13.88 and a beta of 0.63. TELUS Corporation has a 52-week low of $7.64 and a 52-week high of $14.76. The company has a debt-to-equity ratio of 1.82, a quick ratio of 0.62 and a current ratio of 0.63. The stock’s 50 day moving average price is $8.64 and its two-hundred day moving average price is $11.14.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, November 6th. The Wireless communications provider reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.01). The company had revenue of $5.02 billion during the quarter, compared to the consensus estimate of $3.50 billion. TELUS had a negative net margin of 10.27% and a positive return on equity of 7.66%. On average, equities analysts predict that TELUS Corporation will post 0.35 earnings per share for the current year.

TELUS Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, January 4th. Investors of record on Friday, December 11th will be paid a dividend of C$0.19 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $0.75 annualized dividend and a yield of 8.8%. TELUS’s dividend payout ratio is currently -57.45%.

Analyst Upgrades and Downgrades

TU has been the topic of a number of research analyst reports. Morgan Stanley cut shares of TELUS to an “underweight” rating in a research report on Tuesday, July 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of TELUS in a report on Tuesday, November 3rd. Canadian Imperial Bank of Commerce reissued a “neutral” rating on shares of TELUS in a research report on Thursday, October 8th. National Bank Financial downgraded TELUS from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen downgraded TELUS from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $15.00.

TELUS Profile

TELUS is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. Its core services include wireless voice and data, internet, television and home phone offerings, as well as communications and technology solutions for businesses and public-sector organizations. The company also operates TELUS Health, which provides digital health services and technology, and TELUS Agriculture & Consumer Goods, which offers technology and data solutions for the agriculture and food industries.