Northern Trust Corp Raises Stock Position in TELUS Co. (NYSE:TU)

Northern Trust Corp increased its position in TELUS Co. (NYSE:TU) (TSE:T) by 41.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 779,525 shares of the Wireless communications provider’s stock after acquiring an additional 230,234 shares during the period. Northern Trust Corp owned approximately 0.05% of TELUS worth $10,570,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company raised its stake in TELUS by 8.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,102,714 shares of the Wireless communications provider’s stock valued at $82,855,000 after purchasing an additional 459,112 shares during the last quarter. Optiver Holding B.V. purchased a new position in TELUS during the fourth quarter worth about $120,000. Tower Research Capital LLC TRC grew its holdings in TELUS by 477.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 44,268 shares of the Wireless communications provider’s stock valued at $600,000 after buying an additional 36,598 shares during the period. Natixis boosted its holdings in shares of TELUS by 21.0% in the 4th quarter. Natixis now owns 665,956 shares of the Wireless communications provider’s stock valued at $9,030,000 after purchasing an additional 115,727 shares during the last quarter. Finally, Ossiam grew its position in TELUS by 88.4% during the fourth quarter. Ossiam now owns 271,801 shares of the Wireless communications provider’s stock valued at $3,683,000 after acquiring an additional 127,498 shares during the period. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on TU shares. StockNews.com raised TELUS from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Cormark downgraded TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. National Bankshares reissued a “sector perform” rating on shares of TELUS in a report on Monday, May 12th. Bank of America cut TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. Finally, Canaccord Genuity Group raised their target price on TELUS from $20.25 to $21.50 and gave the company a “hold” rating in a research report on Monday, May 12th. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, TELUS has a consensus rating of “Hold” and a consensus price target of $21.50.

TELUS Stock Performance

TU opened at $15.78 on Friday. TELUS Co. has a 1-year low of $13.24 and a 1-year high of $17.27. The company has a market capitalization of $23.89 billion, a price-to-earnings ratio of 32.20, a price-to-earnings-growth ratio of 5.18 and a beta of 0.73. The business has a 50 day moving average price of $14.81 and a two-hundred day moving average price of $14.82. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be paid a dividend of $0.2989 per share. The ex-dividend date is Tuesday, June 10th. This is a positive change from TELUS’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a yield of 7.58%. TELUS’s dividend payout ratio is currently 234.69%.

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.