Wellington Management Group LLP boosted its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 32.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 11,796 shares of the Wireless communications provider’s stock after acquiring an additional 2,883 shares during the period. Wellington Management Group LLP’s holdings in TELUS were worth $187,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Fort L.P. acquired a new stake in TELUS during the 1st quarter worth $177,000. Aviva PLC grew its holdings in shares of TELUS by 101.0% in the 1st quarter. Aviva PLC now owns 140,746 shares of the Wireless communications provider’s stock valued at $2,210,000 after buying an additional 70,720 shares during the period. APG Asset Management N.V. grew its holdings in shares of TELUS by 60.8% in the 1st quarter. APG Asset Management N.V. now owns 1,809,020 shares of the Wireless communications provider’s stock valued at $59,647,000 after buying an additional 684,152 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in shares of TELUS by 147.1% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 14,567,095 shares of the Wireless communications provider’s stock valued at $229,868,000 after buying an additional 8,671,193 shares during the period. Finally, Deutsche Bank AG grew its holdings in shares of TELUS by 105.6% in the 1st quarter. Deutsche Bank AG now owns 3,027,243 shares of the Wireless communications provider’s stock valued at $47,770,000 after buying an additional 1,554,874 shares during the period. 49.84% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on the stock. CIBC cut their price objective on shares of TELUS from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, May 8th. BMO Capital Markets raised shares of TELUS from a “market perform” rating to an “outperform” rating in a research report on Tuesday, April 14th. Scotiabank cut their price target on shares of TELUS from $27.50 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, April 30th. Canaccord Genuity boosted their price target on shares of TELUS from $23.00 to $24.00 and gave the stock a “hold” rating in a research report on Wednesday, June 3rd. Finally, Royal Bank of Canada reissued a “buy” rating and set a $24.00 price target on shares of TELUS in a research report on Wednesday, April 8th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $25.72.
TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Thursday, May 7th. The Wireless communications provider reported $0.32 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.07. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.66 billion. TELUS had a return on equity of 14.94% and a net margin of 11.25%. The firm’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 EPS. Equities analysts anticipate that TELUS Co. will post 0.91 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 2nd. Shareholders of record on Wednesday, June 10th will be issued a $0.2058 dividend. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $0.82 annualized dividend and a yield of 4.91%. TELUS’s dividend payout ratio is presently 77.27%.
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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