PNC Financial Services Group Inc. Has $303,000 Holdings in TELUS Co. (NYSE:TU)

PNC Financial Services Group Inc. grew its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 57.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 17,049 shares of the Wireless communications provider’s stock after acquiring an additional 6,211 shares during the period. PNC Financial Services Group Inc.’s holdings in TELUS were worth $303,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Ontario Teachers Pension Plan Board bought a new position in TELUS during the fourth quarter valued at about $1,100,000. Vanguard Group Inc. lifted its holdings in TELUS by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 21,789,027 shares of the Wireless communications provider’s stock worth $356,033,000 after purchasing an additional 387,561 shares during the last quarter. Virtu Financial LLC acquired a new stake in TELUS in the 4th quarter worth approximately $376,000. TD Asset Management Inc boosted its position in TELUS by 18.4% during the fourth quarter. TD Asset Management Inc now owns 40,669,392 shares of the Wireless communications provider’s stock worth $727,275,000 after purchasing an additional 6,334,692 shares during the period. Finally, FMR LLC grew its holdings in TELUS by 15.4% during the third quarter. FMR LLC now owns 489,969 shares of the Wireless communications provider’s stock valued at $8,001,000 after purchasing an additional 65,287 shares during the last quarter. Institutional investors own 49.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TU shares. Scotiabank restated a “sector perform” rating and issued a $26.00 price objective (down from $28.00) on shares of TELUS in a research note on Monday, March 25th. StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a research report on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, TELUS has a consensus rating of “Hold” and a consensus target price of $27.72.

TELUS Trading Down 0.3 %

Shares of TU stock opened at $15.14 on Monday. The firm has a market capitalization of $22.35 billion, a P/E ratio of 38.82, a price-to-earnings-growth ratio of 2.19 and a beta of 0.73. TELUS Co. has a 1 year low of $15.10 and a 1 year high of $19.66. The firm’s fifty day simple moving average is $16.14 and its 200 day simple moving average is $16.88. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 1.42.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Thursday, May 9th. The Wireless communications provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. TELUS had a net margin of 3.73% and a return on equity of 7.90%. The company had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.73 billion. As a group, sell-side analysts predict that TELUS Co. will post 0.76 EPS for the current year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Monday, June 10th will be given a $0.282 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 7.45%. This is an increase from TELUS’s previous quarterly dividend of $0.28. TELUS’s dividend payout ratio (DPR) is currently 289.75%.

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.