Avior Wealth Management LLC Raises Holdings in TELUS Co. (NYSE:TU)

Avior Wealth Management LLC raised its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 1,756.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,807 shares of the Wireless communications provider’s stock after purchasing an additional 4,548 shares during the period. Avior Wealth Management LLC’s holdings in TELUS were worth $65,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in shares of TELUS by 195,100.0% in the 4th quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider’s stock worth $26,000 after buying an additional 1,951 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of TELUS by 58.0% in the 3rd quarter. Blue Trust Inc. now owns 4,001 shares of the Wireless communications provider’s stock worth $67,000 after buying an additional 1,468 shares during the last quarter. Trust Co. of Vermont boosted its stake in shares of TELUS by 19.0% in the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock worth $128,000 after buying an additional 1,218 shares during the last quarter. B. Riley Wealth Advisors Inc. purchased a new position in shares of TELUS in the 2nd quarter worth $163,000. Finally, Private Advisor Group LLC purchased a new position in shares of TELUS in the 3rd quarter worth $187,000. 49.40% of the stock is currently owned by hedge funds and other institutional investors.

TELUS Price Performance

NYSE:TU opened at $14.44 on Thursday. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 1.50. The business’s 50-day simple moving average is $14.43 and its two-hundred day simple moving average is $15.55. The stock has a market cap of $21.65 billion, a PE ratio of 30.71, a P/E/G ratio of 4.69 and a beta of 0.74. TELUS Co. has a 52 week low of $13.24 and a 52 week high of $18.24.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $3.69 billion. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $0.19 earnings per share. As a group, analysts forecast that TELUS Co. will post 0.72 EPS for the current fiscal year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were issued a dividend of $0.297 per share. The ex-dividend date was Wednesday, December 11th. This is a boost from TELUS’s previous quarterly dividend of $0.28. This represents a $1.19 dividend on an annualized basis and a yield of 8.23%. TELUS’s dividend payout ratio (DPR) is currently 242.56%.

Analyst Ratings Changes

TU has been the topic of a number of research reports. StockNews.com downgraded TELUS from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Scotiabank raised TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. National Bank Financial cut TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, December 13th. Finally, Morgan Stanley started coverage on TELUS in a report on Monday, December 16th. They issued an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.00.

TELUS Company 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.