TELUS Corporation $TU Shares Purchased by Intact Investment Management Inc.

Intact Investment Management Inc. increased its holdings in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 9.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,432,862 shares of the Wireless communications provider’s stock after buying an additional 212,500 shares during the quarter. TELUS comprises approximately 1.2% of Intact Investment Management Inc.’s portfolio, making the stock its 25th biggest holding. Intact Investment Management Inc. owned approximately 0.16% of TELUS worth $38,323,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Parvin Asset Management LLC purchased a new position in shares of TELUS during the 2nd quarter worth about $27,000. Farther Finance Advisors LLC increased its position in TELUS by 35.0% during the third quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 759 shares during the last quarter. Blue Trust Inc. raised its stake in TELUS by 26.1% during the second quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock worth $52,000 after purchasing an additional 667 shares during the period. CWM LLC boosted its holdings in shares of TELUS by 169.6% in the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock valued at $59,000 after purchasing an additional 2,301 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of TELUS during the 2nd quarter valued at $61,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Price Performance

Shares of NYSE TU opened at $13.87 on Monday. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.76 and a quick ratio of 0.71. TELUS Corporation has a 1-year low of $12.54 and a 1-year high of $16.74. The company has a market capitalization of $21.46 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 2.09 and a beta of 0.66. The business has a 50-day moving average of $13.18 and a 200-day moving average of $14.87.

TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, November 7th. The Wireless communications provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $3.67 billion for the quarter, compared to analysts’ expectations of $3.77 billion. TELUS had a net margin of 5.71% and a return on equity of 8.76%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.28 earnings per share. On average, equities analysts anticipate that TELUS Corporation will post 0.71 EPS for the current fiscal year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th were given a dividend of $0.4184 per share. The ex-dividend date of this dividend was Thursday, December 11th. This is an increase from TELUS’s previous quarterly dividend of $0.30. This represents a $1.67 dividend on an annualized basis and a dividend yield of 12.1%. TELUS’s dividend payout ratio is presently 218.18%.

Wall Street Analysts Forecast Growth

TU has been the topic of several research reports. BMO Capital Markets lowered TELUS from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 11th. Barclays cut their price objective on TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a report on Monday, November 10th. National Bankshares reiterated an “outperform” rating on shares of TELUS in a report on Thursday, December 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of TELUS in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. reaffirmed an “underweight” rating and set a $19.00 price target (down from $22.00) on shares of TELUS in a research report on Tuesday, November 18th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $18.17.

TELUS Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.