Canada Pension Plan Investment Board increased its position in TELUS Corporation (NYSE:TU) (TSE:T) by 98.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,223,510 shares of the Wireless communications provider’s stock after buying an additional 605,910 shares during the period. Canada Pension Plan Investment Board owned 0.21% of TELUS Corporation worth $43,906,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Intact Investment Management Inc. grew its holdings in TELUS Corporation by 21.4% during the third quarter. Intact Investment Management Inc. now owns 1,213,680 shares of the Wireless communications provider’s stock valued at $54,456,000 after purchasing an additional 214,000 shares during the last quarter. OLD National Bancorp IN acquired a new position in TELUS Corporation during the third quarter valued at approximately $208,000. Crossmark Global Holdings Inc. acquired a new position in TELUS Corporation during the third quarter valued at approximately $8,287,000. Baskin Financial Services Inc. grew its holdings in TELUS Corporation by 2.5% during the third quarter. Baskin Financial Services Inc. now owns 270,029 shares of the Wireless communications provider’s stock valued at $9,687,000 after purchasing an additional 6,485 shares during the last quarter. Finally, Highstreet Asset Management Inc. grew its holdings in TELUS Corporation by 6.4% during the third quarter. Highstreet Asset Management Inc. now owns 769,671 shares of the Wireless communications provider’s stock valued at $27,684,000 after purchasing an additional 46,012 shares during the last quarter. Hedge funds and other institutional investors own 50.69% of the company’s stock.
Several equities research analysts have recently issued reports on TU shares. BidaskClub downgraded shares of TELUS Corporation from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 12th. Zacks Investment Research downgraded shares of TELUS Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 12th. Royal Bank Of Canada raised TELUS Corporation from a “sector perform” rating to an “outperform” rating and raised their target price for the stock from $47.00 to $51.00 in a research report on Friday. Scotiabank raised TELUS Corporation from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, October 25th. Finally, BMO Capital Markets raised their target price on TELUS Corporation from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 14th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $45.20.
Shares of TELUS Corporation (TU) opened at $38.06 on Tuesday. The company has a quick ratio of 0.48, a current ratio of 0.55 and a debt-to-equity ratio of 1.44. The company has a market capitalization of $22,720.50, a PE ratio of 19.22, a P/E/G ratio of 2.29 and a beta of 0.92. TELUS Corporation has a 12-month low of $30.31 and a 12-month high of $38.47.
TELUS Corporation (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, August 11th. The Wireless communications provider reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.56 by ($0.05). The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.26 billion. TELUS Corporation had a return on equity of 18.72% and a net margin of 9.61%. TELUS Corporation’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 earnings per share. analysts anticipate that TELUS Corporation will post 2.09 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be given a dividend of $0.505 per share. This is a positive change from TELUS Corporation’s previous quarterly dividend of $0.39. This represents a $2.02 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend is Friday, December 8th. TELUS Corporation’s payout ratio is presently 97.53%.
About TELUS Corporation
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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