TELUS Corporation (NYSE:TU) Holdings Lifted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its position in TELUS Corporation (NYSE:TU) (TSE:T) by 39.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 651,054 shares of the Wireless communications provider’s stock after purchasing an additional 185,020 shares during the period. Bank of New York Mellon Corp’s holdings in TELUS were worth $9,336,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of TELUS during the 4th quarter valued at $2,085,000. Virtu Financial LLC acquired a new position in TELUS during the fourth quarter worth $781,000. American Century Companies Inc. raised its position in TELUS by 4.6% during the fourth quarter. American Century Companies Inc. now owns 119,665 shares of the Wireless communications provider’s stock worth $1,623,000 after acquiring an additional 5,286 shares in the last quarter. Hillsdale Investment Management Inc. raised its position in shares of TELUS by 7.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 21,733 shares of the Wireless communications provider’s stock valued at $294,000 after purchasing an additional 1,500 shares during the period. Finally, LPL Financial LLC increased its holdings in TELUS by 2.7% in the 4th quarter. LPL Financial LLC now owns 279,527 shares of the Wireless communications provider’s stock valued at $3,790,000 after buying an additional 7,447 shares during the period. Institutional investors own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TU shares. National Bankshares reaffirmed a “sector perform” rating on shares of TELUS in a research report on Monday, May 12th. Scotiabank reaffirmed an “outperform” rating on shares of TELUS in a research report on Tuesday, July 15th. Finally, Canaccord Genuity Group boosted their price objective on TELUS from $20.25 to $21.50 and gave the stock a “hold” rating in a research note on Monday, May 12th. Eight analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, TELUS presently has a consensus rating of “Hold” and a consensus target price of $21.50.

TELUS Trading Up 1.2%

Shares of TU stock opened at $16.44 on Tuesday. The stock’s fifty day moving average is $16.15 and its two-hundred day moving average is $15.21. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.59 and a current ratio of 0.64. The firm has a market capitalization of $25.06 billion, a P/E ratio of 21.65, a PEG ratio of 4.93 and a beta of 0.73. TELUS Corporation has a fifty-two week low of $13.24 and a fifty-two week high of $17.27.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th were given a dividend of $0.2989 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents a $1.20 dividend on an annualized basis and a dividend yield of 7.27%. TELUS’s payout ratio is currently 212.28%.

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.