Rhumbline Advisers Has $1.24 Million Stake in TELUS Co. (NYSE:TU)

Rhumbline Advisers lifted its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 4.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 82,149 shares of the Wireless communications provider’s stock after buying an additional 3,158 shares during the period. Rhumbline Advisers’ holdings in TELUS were worth $1,244,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TU. Capital Research Global Investors grew its position in shares of TELUS by 215.8% during the 4th quarter. Capital Research Global Investors now owns 22,214,210 shares of the Wireless communications provider’s stock worth $395,314,000 after buying an additional 15,179,110 shares during the period. TD Asset Management Inc lifted its holdings in shares of TELUS by 18.4% in the 4th 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 in the last quarter. Norges Bank bought a new position in shares of TELUS in the 4th quarter worth $82,775,000. The Manufacturers Life Insurance Company lifted its holdings in shares of TELUS by 15.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider’s stock worth $511,646,000 after purchasing an additional 3,860,487 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of TELUS by 81.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,798,166 shares of the Wireless communications provider’s stock worth $67,569,000 after purchasing an additional 1,704,788 shares in the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Price Performance

Shares of NYSE:TU opened at $16.74 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.46. The stock’s fifty day simple moving average is $16.25 and its two-hundred day simple moving average is $16.16. TELUS Co. has a 1-year low of $14.63 and a 1-year high of $19.14. The stock has a market cap of $24.71 billion, a PE ratio of 42.92, a price-to-earnings-growth ratio of 2.57 and a beta of 0.74.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.09. TELUS had a return on equity of 8.50% and a net margin of 3.87%. The business had revenue of $3.64 billion for the quarter, compared to analysts’ expectations of $3.70 billion. During the same period last year, the business earned $0.14 EPS. As a group, analysts forecast that TELUS Co. will post 0.73 EPS for the current fiscal year.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.284 per share. The ex-dividend date is Tuesday, September 10th. This is a boost from TELUS’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 6.79%. TELUS’s dividend payout ratio (DPR) is 294.87%.

Analysts Set New Price Targets

TU has been the topic of a number of recent research reports. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Canaccord Genuity Group cut TELUS from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.33.

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.