Korea Investment CORP Buys 7,900 Shares of TELUS Co. (TU)
Korea Investment CORP raised its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 42.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,560 shares of the Wireless communications provider’s stock after buying an additional 7,900 shares during the quarter. Korea Investment CORP’s holdings in TELUS were worth $880,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the business. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of TELUS by 3.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,379,276 shares of the Wireless communications provider’s stock worth $145,089,000 after purchasing an additional 132,558 shares during the last quarter. Gluskin Sheff & Assoc Inc. increased its position in TELUS by 5.7% during the fourth quarter. Gluskin Sheff & Assoc Inc. now owns 7,044 shares of the Wireless communications provider’s stock valued at $233,000 after acquiring an additional 380 shares during the last quarter. Fiera Capital Corp increased its position in TELUS by 20.8% during the fourth quarter. Fiera Capital Corp now owns 3,106,458 shares of the Wireless communications provider’s stock valued at $103,176,000 after acquiring an additional 534,592 shares during the last quarter. Blueshift Asset Management LLC purchased a new stake in TELUS during the fourth quarter valued at $523,000. Finally, Van ECK Associates Corp purchased a new stake in TELUS during the fourth quarter valued at $25,000. Institutional investors and hedge funds own 51.02% of the company’s stock.
TELUS stock opened at $36.08 on Friday. The firm has a market cap of $21.60 billion, a P/E ratio of 16.86, a PEG ratio of 2.00 and a beta of 0.85. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.79 and a quick ratio of 0.72. TELUS Co. has a one year low of $32.46 and a one year high of $37.70.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be issued a dividend of $0.4098 per share. This represents a $1.64 annualized dividend and a yield of 4.54%. The ex-dividend date is Friday, March 8th. TELUS’s dividend payout ratio is presently 77.10%.
TU has been the subject of a number of research reports. Canaccord Genuity reiterated a “buy” rating on shares of TELUS in a research report on Friday, February 15th. Zacks Investment Research upgraded TELUS from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Finally, Echelon Wealth Partners reiterated a “buy” rating on shares of TELUS in a research report on Friday, February 15th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $47.67.
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TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.
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