Carnegie Capital Asset Management LLC Boosts Stock Position in TELUS Co. (NYSE:TU)

Carnegie Capital Asset Management LLC grew its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 99.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,000 shares of the Wireless communications provider’s stock after acquiring an additional 9,450 shares during the period. Carnegie Capital Asset Management LLC’s holdings in TELUS were worth $299,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. raised its position in shares of TELUS by 61.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 339,597 shares of the Wireless communications provider’s stock worth $12,578,000 after buying an additional 128,989 shares in the last quarter. IFP Advisors Inc raised its position in shares of TELUS by 25.4% in the fourth quarter. IFP Advisors Inc now owns 3,704 shares of the Wireless communications provider’s stock worth $144,000 after buying an additional 750 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of TELUS by 0.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 43,301 shares of the Wireless communications provider’s stock worth $1,677,000 after buying an additional 364 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of TELUS in the fourth quarter worth $209,000. Finally, CWM LLC raised its position in shares of TELUS by 31.9% in the fourth quarter. CWM LLC now owns 245,103 shares of the Wireless communications provider’s stock worth $9,493,000 after buying an additional 59,252 shares in the last quarter. Hedge funds and other institutional investors own 28.74% of the company’s stock.

A number of equities research analysts recently issued reports on the company. National Bank Financial downgraded TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, February 14th. Canaccord Genuity reissued a “hold” rating and issued a $23.00 target price (up previously from $22.00) on shares of TELUS in a research note on Friday, May 8th. ValuEngine cut TELUS from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. TD Securities reissued a “buy” rating and issued a $30.50 target price on shares of TELUS in a research note on Friday, February 14th. Finally, Scotiabank reduced their target price on TELUS from $27.50 to $27.00 and set an “outperform” rating on the stock in a research note on Thursday, April 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.56.

Shares of NYSE:TU opened at $16.17 on Friday. The stock’s 50-day moving average price is $16.08 and its 200-day moving average price is $18.07. TELUS Co. has a 12-month low of $13.54 and a 12-month high of $20.91. The stock has a market capitalization of $20.67 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of 3.58 and a beta of 0.67. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 1.37.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Thursday, May 7th. The Wireless communications provider reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.07. TELUS had a return on equity of 14.94% and a net margin of 11.25%. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.66 billion. During the same period last year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, research analysts predict that TELUS Co. will post 0.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th will be paid a dividend of $0.2058 per share. The ex-dividend date is Tuesday, June 9th. This represents a $0.82 dividend on an annualized basis and a dividend yield of 5.09%. TELUS’s dividend payout ratio (DPR) is currently 79.09%.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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