Lansforsakringar Fondforvaltning AB publ Grows Stock Holdings in TELUS Corporation $TU

Lansforsakringar Fondforvaltning AB publ boosted its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 2.9% during the first quarter, Holdings Channel.com reports. The firm owned 132,300 shares of the Wireless communications provider’s stock after acquiring an additional 3,733 shares during the period. Lansforsakringar Fondforvaltning AB publ’s holdings in TELUS were worth $1,897,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mackenzie Financial Corp increased its position in TELUS by 22.6% during the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider’s stock valued at $667,840,000 after acquiring an additional 9,068,181 shares during the last quarter. Vanguard Group Inc. increased its position in TELUS by 1.5% during the first quarter. Vanguard Group Inc. now owns 26,185,917 shares of the Wireless communications provider’s stock valued at $375,585,000 after acquiring an additional 384,510 shares during the last quarter. Scotia Capital Inc. increased its position in TELUS by 4.7% during the first quarter. Scotia Capital Inc. now owns 18,553,552 shares of the Wireless communications provider’s stock valued at $266,146,000 after acquiring an additional 831,282 shares during the last quarter. Fiera Capital Corp increased its position in TELUS by 1.2% during the first quarter. Fiera Capital Corp now owns 16,270,907 shares of the Wireless communications provider’s stock valued at $233,606,000 after acquiring an additional 192,599 shares during the last quarter. Finally, Toronto Dominion Bank increased its position in TELUS by 4.8% during the fourth quarter. Toronto Dominion Bank now owns 10,344,369 shares of the Wireless communications provider’s stock valued at $140,086,000 after acquiring an additional 475,625 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Trading Up 0.4%

Shares of TU opened at $16.51 on Monday. TELUS Corporation has a 1-year low of $13.24 and a 1-year high of $17.26. The company has a 50-day moving average of $16.27 and a 200 day moving average of $15.64. The firm has a market capitalization of $25.17 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 4.85 and a beta of 0.72. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.86 and a quick ratio of 0.81.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, August 1st. The Wireless communications provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). TELUS had a net margin of 4.67% and a return on equity of 9.10%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.63 billion. During the same quarter in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts expect that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be given a dividend of $0.3019 per share. This is a positive change from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Wednesday, September 10th. This represents a $1.21 dividend on an annualized basis and a yield of 7.3%. TELUS’s payout ratio is 260.87%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Scotiabank reiterated an “outperform” rating on shares of TELUS in a research report on Tuesday, July 15th. National Bankshares reiterated a “sector perform” rating on shares of TELUS in a research report on Monday, May 12th. Finally, Canaccord Genuity Group boosted their price objective on shares of TELUS from $20.25 to $21.50 and gave the company a “hold” rating in a research report on Monday, May 12th. One research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $21.50.

About TELUS

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.