TELUS Co. (NYSE:TU) Shares Bought by Vest Financial LLC

Vest Financial LLC grew its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 49.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 95,944 shares of the Wireless communications provider’s stock after buying an additional 31,604 shares during the period. Vest Financial LLC’s holdings in TELUS were worth $1,376,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Leo Wealth LLC purchased a new position in TELUS in the fourth quarter valued at about $279,000. Triasima Portfolio Management inc. acquired a new stake in TELUS in the fourth quarter valued at $146,000. Community Bank & Trust Waco Texas grew its holdings in TELUS by 15.4% in the fourth quarter. Community Bank & Trust Waco Texas now owns 44,909 shares of the Wireless communications provider’s stock valued at $609,000 after purchasing an additional 5,988 shares during the last quarter. Louisbourg Investments Inc. grew its holdings in TELUS by 121.2% in the fourth quarter. Louisbourg Investments Inc. now owns 31,610 shares of the Wireless communications provider’s stock valued at $428,000 after purchasing an additional 17,320 shares during the last quarter. Finally, Ingalls & Snyder LLC grew its holdings in TELUS by 20.4% in the fourth quarter. Ingalls & Snyder LLC now owns 22,980 shares of the Wireless communications provider’s stock valued at $312,000 after purchasing an additional 3,900 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

Wall Street Analyst Weigh In

TU has been the topic of a number of analyst reports. Canaccord Genuity Group increased their price objective on TELUS from $20.25 to $21.50 and gave the company a “hold” rating in a research note on Monday, May 12th. Wall Street Zen upgraded TELUS from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Bank of America downgraded TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. National Bankshares reiterated a “sector perform” rating on shares of TELUS in a research note on Monday, May 12th. Finally, Cormark lowered TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, TELUS presently has an average rating of “Hold” and a consensus price target of $21.50.

TELUS Stock Down 0.4%

TU stock opened at $16.34 on Friday. TELUS Co. has a twelve month low of $13.24 and a twelve month high of $17.27. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $24.73 billion, a P/E ratio of 33.34, a PEG ratio of 5.18 and a beta of 0.74. The firm has a 50 day simple moving average of $15.31 and a 200-day simple moving average of $14.89.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th will be given a dividend of $0.2989 per share. The ex-dividend date is Tuesday, June 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.32%. This is an increase from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio (DPR) is presently 201.75%.

TELUS Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.