NBC Securities Inc. Raises Stock Position in TELUS Co. (NYSE:TU)

NBC Securities Inc. boosted its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 112,425.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,501 shares of the Wireless communications provider’s stock after purchasing an additional 4,497 shares during the period. NBC Securities Inc.’s holdings in TELUS were worth $64,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Optiver Holding B.V. purchased a new position in TELUS during the fourth quarter worth about $120,000. Blueshift Asset Management LLC purchased a new position in TELUS during the fourth quarter worth about $142,000. Legal & General Group Plc purchased a new position in TELUS during the fourth quarter worth about $190,000. Bayesian Capital Management LP purchased a new position in TELUS during the fourth quarter worth about $202,000. Finally, Versant Capital Management Inc raised its stake in TELUS by 768.7% during the first quarter. Versant Capital Management Inc now owns 16,957 shares of the Wireless communications provider’s stock worth $243,000 after purchasing an additional 15,005 shares during the period. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Price Performance

TELUS stock opened at $16.09 on Thursday. The company’s 50 day simple moving average is $15.42 and its 200-day simple moving average is $14.91. The company has a market capitalization of $24.35 billion, a price-to-earnings ratio of 32.83, a price-to-earnings-growth ratio of 5.18 and a beta of 0.74. TELUS Co. has a 1 year low of $13.24 and a 1 year high of $17.27. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Investors of record on Tuesday, June 10th will be issued a $0.2989 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.43%. This is a boost from TELUS’s previous quarterly dividend of $0.28. TELUS’s payout ratio is 212.28%.

Analysts Set New Price Targets

A number of brokerages have commented on TU. Cormark downgraded shares of TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Canaccord Genuity Group boosted their price target on shares of TELUS from $20.25 to $21.50 and gave the company a “hold” rating in a research note on Monday, May 12th. Bank of America downgraded shares of TELUS from a “buy” rating to a “neutral” rating in a research note on Friday, March 21st. Finally, National Bankshares reissued a “sector perform” rating on shares of TELUS in a research note on Monday, May 12th. Eight investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, TELUS currently has a consensus rating of “Hold” and a consensus target price of $21.50.

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.