TELUS Corporation $TU Shares Purchased by Quantinno Capital Management LP

Quantinno Capital Management LP raised its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 51.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 360,212 shares of the Wireless communications provider’s stock after acquiring an additional 122,274 shares during the quarter. Quantinno Capital Management LP’s holdings in TELUS were worth $4,620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of Nova Scotia increased its stake in shares of TELUS by 20.4% during the 1st quarter. Bank of Nova Scotia now owns 21,108,090 shares of the Wireless communications provider’s stock worth $271,237,000 after purchasing an additional 3,571,734 shares in the last quarter. K.J. Harrison & Partners Inc raised its position in shares of TELUS by 307.9% during the 4th quarter. K.J. Harrison & Partners Inc now owns 222,192 shares of the Wireless communications provider’s stock worth $2,933,000 after purchasing an additional 167,714 shares during the last quarter. Letko Brosseau & Associates Inc. lifted its stake in TELUS by 2.2% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 6,775,387 shares of the Wireless communications provider’s stock valued at $89,416,000 after buying an additional 148,325 shares in the last quarter. Vanguard Group Inc. lifted its stake in TELUS by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 29,470,046 shares of the Wireless communications provider’s stock valued at $388,415,000 after buying an additional 916,459 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in TELUS during the 1st quarter valued at $13,794,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Price Performance

Shares of TELUS stock opened at $9.81 on Friday. TELUS Corporation has a twelve month low of $9.20 and a twelve month high of $16.72. The stock has a market capitalization of $15.45 billion, a P/E ratio of -23.94, a PEG ratio of 9.62 and a beta of 0.64. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.88. The business’s fifty day moving average price is $10.96 and its 200 day moving average price is $12.34.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Friday, July 31st. The Wireless communications provider reported $0.12 EPS for the quarter, missing the consensus estimate of $0.16 by ($0.04). The firm had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.55 billion. TELUS had a positive return on equity of 8.01% and a negative net margin of 4.51%. As a group, research analysts anticipate that TELUS Corporation will post 0.57 earnings per share for the current year.

TELUS Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.1875 per share. The ex-dividend date is Thursday, September 10th. This represents a $0.75 dividend on an annualized basis and a dividend yield of 7.6%. TELUS’s payout ratio is presently -295.12%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TU shares. Canaccord Genuity Group downgraded TELUS from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. TD Cowen upgraded TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Raymond James Financial began coverage on TELUS in a research note on Wednesday, July 15th. They set a “market perform” rating on the stock. Wall Street Zen downgraded shares of TELUS from a “hold” rating to a “sell” rating in a research note on Saturday, August 1st. Finally, Barclays set a $11.00 target price on shares of TELUS and gave the company an “equal weight” rating in a report on Tuesday. Three analysts have rated the stock with a Buy rating, nine have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus price target of $15.33.

TELUS Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.