Fiera Capital Corp Grows Stock Holdings in TELUS Corporation $TU

Fiera Capital Corp raised its stake in TELUS Corporation (NYSE:TU) (TSE:T) by 10.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,867,796 shares of the Wireless communications provider’s stock after buying an additional 1,725,982 shares during the period. Fiera Capital Corp owned approximately 1.16% of TELUS worth $281,326,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC raised its position in shares of TELUS by 20.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,529,471 shares of the Wireless communications provider’s stock worth $76,335,000 after purchasing an additional 780,607 shares during the last quarter. Scotia Capital Inc. increased its position in TELUS by 1.6% during the second quarter. Scotia Capital Inc. now owns 18,842,084 shares of the Wireless communications provider’s stock worth $302,519,000 after buying an additional 288,532 shares in the last quarter. Picton Mahoney Asset Management acquired a new position in shares of TELUS in the second quarter worth $51,091,000. Prudential PLC purchased a new stake in shares of TELUS in the second quarter valued at $531,000. Finally, SG Americas Securities LLC acquired a new stake in shares of TELUS during the second quarter valued at $457,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. National Bank Financial reissued an “outperform” rating on shares of TELUS in a research note on Thursday, December 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of TELUS in a research report on Monday, December 29th. Citigroup raised shares of TELUS to a “buy” rating in a research note on Thursday, December 4th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $19.00 price target (down from $22.00) on shares of TELUS in a report on Tuesday, November 18th. Finally, Barclays reduced their price target on TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. Five investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, TELUS currently has a consensus rating of “Hold” and a consensus target price of $18.17.

TELUS Stock Down 0.2%

Shares of TU opened at $13.54 on Friday. TELUS Corporation has a fifty-two week low of $12.54 and a fifty-two week high of $16.74. The company’s fifty day moving average is $13.43 and its two-hundred day moving average is $14.57. The firm has a market cap of $20.95 billion, a PE ratio of 26.03, a price-to-earnings-growth ratio of 1.60 and a beta of 0.67. The company has a quick ratio of 0.81, a current ratio of 0.86 and a debt-to-equity ratio of 1.65.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Thursday, February 12th. The Wireless communications provider reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.03). TELUS had a return on equity of 8.42% and a net margin of 5.42%.The firm had revenue of $3.83 billion during the quarter, compared to analysts’ expectations of $3.85 billion. During the same period last year, the business posted $0.25 earnings per share. Analysts forecast that TELUS Corporation will post 0.71 earnings per share for the current year.

TELUS Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Wednesday, March 11th will be paid a $0.4184 dividend. This represents a $1.67 annualized dividend and a dividend yield of 12.4%. The ex-dividend date of this dividend is Wednesday, March 11th. TELUS’s payout ratio is currently 230.77%.

TELUS Company 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.