Rhumbline Advisers Has $1.60 Million Stake in TELUS Corporation (NYSE:TU)

Rhumbline Advisers reduced its position in TELUS Corporation (NYSE:TU) (TSE:T) by 2.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 111,354 shares of the Wireless communications provider’s stock after selling 2,293 shares during the quarter. Rhumbline Advisers’ holdings in TELUS were worth $1,597,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TU. Investors Research Corp boosted its holdings in TELUS by 21.6% during the first quarter. Investors Research Corp now owns 81,856 shares of the Wireless communications provider’s stock valued at $1,174,000 after purchasing an additional 14,550 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of TELUS by 768.7% during the 1st quarter. Versant Capital Management Inc now owns 16,957 shares of the Wireless communications provider’s stock worth $243,000 after buying an additional 15,005 shares during the period. Wellington Management Group LLP boosted its stake in TELUS by 52.1% in the 4th quarter. Wellington Management Group LLP now owns 390,142 shares of the Wireless communications provider’s stock valued at $5,287,000 after buying an additional 133,636 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in TELUS in the fourth quarter valued at $1,742,000. Finally, Mackenzie Financial Corp grew its position in TELUS by 22.6% in the fourth quarter. Mackenzie Financial Corp now owns 49,232,693 shares of the Wireless communications provider’s stock valued at $667,840,000 after acquiring an additional 9,068,181 shares during the period. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Stock Down 1.2%

Shares of NYSE TU opened at $15.93 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.64 and a debt-to-equity ratio of 1.49. The company has a market cap of $24.29 billion, a price-to-earnings ratio of 27.95, a price-to-earnings-growth ratio of 5.09 and a beta of 0.74. TELUS Corporation has a 12-month low of $13.24 and a 12-month high of $17.27. The firm’s 50-day simple moving average is $15.58 and its 200 day simple moving average is $14.92.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th will be paid a dividend of $0.2989 per share. This is a boost from TELUS’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 7.51%. The ex-dividend date of this dividend is Tuesday, June 10th. TELUS’s dividend payout ratio is 212.28%.

Wall Street Analyst Weigh In

TU has been the subject of a number of analyst reports. Canaccord Genuity Group lifted their price objective on TELUS from $20.25 to $21.50 and gave the company a “hold” rating in a report on Monday, May 12th. Bank of America downgraded shares of TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. National Bankshares reaffirmed a “sector perform” rating on shares of TELUS in a research note on Monday, May 12th. Finally, Cormark cut shares of TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Eight investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.50.

TELUS 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.