TELUS Corporation $TU Shares Bought by American Century Companies Inc.

American Century Companies Inc. lifted its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 43.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 171,551 shares of the Wireless communications provider’s stock after acquiring an additional 51,886 shares during the quarter. American Century Companies Inc.’s holdings in TELUS were worth $2,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TU. Northern Trust Corp increased its stake in shares of TELUS by 41.9% in the fourth quarter. Northern Trust Corp now owns 779,525 shares of the Wireless communications provider’s stock worth $10,570,000 after acquiring an additional 230,234 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of TELUS by 25.6% in the fourth quarter. Ameriprise Financial Inc. now owns 528,246 shares of the Wireless communications provider’s stock worth $7,249,000 after acquiring an additional 107,806 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of TELUS by 76.5% in the fourth quarter. BNP Paribas Financial Markets now owns 239,792 shares of the Wireless communications provider’s stock worth $3,252,000 after acquiring an additional 103,967 shares during the last quarter. Beverly Hills Private Wealth LLC increased its stake in shares of TELUS by 9.7% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 21,492 shares of the Wireless communications provider’s stock worth $291,000 after acquiring an additional 1,901 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of TELUS in the fourth quarter worth $202,000. 49.40% of the stock is owned by institutional investors and hedge funds.

TELUS Trading Up 0.4%

TELUS stock opened at $16.51 on Monday. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.86 and a quick ratio of 0.81. The company has a market capitalization of $25.17 billion, a price-to-earnings ratio of 35.88, a PEG ratio of 4.85 and a beta of 0.72. TELUS Corporation has a one year low of $13.24 and a one year high of $17.26. The company’s fifty day moving average price is $16.27 and its two-hundred day moving average price is $15.64.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Friday, August 1st. The Wireless communications provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.63 billion. TELUS had a return on equity of 9.10% and a net margin of 4.67%.The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. On average, analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Wednesday, September 10th will be issued a dividend of $0.3019 per share. This represents a $1.21 dividend on an annualized basis and a yield of 7.3%. This is a positive change from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date is Wednesday, September 10th. TELUS’s dividend payout ratio is currently 260.87%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of TELUS from $20.25 to $21.50 and gave the stock a “hold” rating in a research note on Monday, May 12th. Scotiabank reaffirmed an “outperform” rating on shares of TELUS in a research note on Tuesday, July 15th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of TELUS in a research note on Monday, May 12th. One analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target 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.