TELUS Co. (NYSE:TU) Stock Holdings Decreased by DAVENPORT & Co LLC

DAVENPORT & Co LLC lessened its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 5.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,385 shares of the Wireless communications provider’s stock after selling 1,878 shares during the period. DAVENPORT & Co LLC’s holdings in TELUS were worth $593,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Aviva PLC grew its position in shares of TELUS by 101.0% during 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 last quarter. Swiss National Bank grew its position in shares of TELUS by 122.7% during the 1st quarter. Swiss National Bank now owns 1,733,300 shares of the Wireless communications provider’s stock valued at $26,918,000 after buying an additional 955,000 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of TELUS by 75.3% during the 1st quarter. JPMorgan Chase & Co. now owns 1,949,716 shares of the Wireless communications provider’s stock valued at $30,768,000 after buying an additional 837,465 shares during the last quarter. APG Asset Management N.V. grew its position in shares of TELUS by 5.9% during the 1st quarter. APG Asset Management N.V. now owns 1,190,810 shares of the Wireless communications provider’s stock valued at $18,615,000 after buying an additional 65,942 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of TELUS by 121.7% during the 1st quarter. Geode Capital Management LLC now owns 748,123 shares of the Wireless communications provider’s stock valued at $11,766,000 after buying an additional 410,697 shares during the last quarter. 49.61% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts recently weighed in on TU shares. CIBC lowered their price objective on shares of TELUS from $27.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, May 8th. Royal Bank of Canada reissued a “buy” rating and set a $24.00 target price on shares of TELUS in a research note on Wednesday, April 8th. BMO Capital Markets raised shares of TELUS from a “market perform” rating to an “outperform” rating in a research note on Tuesday, April 14th. Canaccord Genuity boosted their target price on shares of TELUS from $23.00 to $24.00 and gave the company a “hold” rating in a research note on Wednesday, June 3rd. Finally, Zacks Investment Research raised shares of TELUS from a “sell” rating to a “hold” rating and set a $18.00 target price for the company in a research note on Monday, June 1st. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $25.72.

Shares of NYSE:TU opened at $17.36 on Friday. The company has a 50 day moving average of $17.02 and a 200-day moving average of $17.44. The firm has a market cap of $22.16 billion, a P/E ratio of 16.61, a P/E/G ratio of 3.37 and a beta of 0.69. TELUS Co. has a twelve month low of $13.54 and a twelve month high of $20.91. 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 issued its quarterly earnings results on Thursday, May 7th. The Wireless communications provider reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.07. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.66 billion. TELUS had a net margin of 11.25% and a return on equity of 14.94%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. Equities research analysts forecast that TELUS Co. will post 0.92 EPS for the current year.

TELUS Company Profile

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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