TELUS Co. (NYSE:TU) Holdings Lifted by Swiss National Bank
Swiss National Bank grew its position in TELUS Co. (NYSE:TU) (TSE:T) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 736,700 shares of the Wireless communications provider’s stock after purchasing an additional 36,000 shares during the period. Swiss National Bank owned approximately 0.12% of TELUS worth $27,231,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. bought a new position in TELUS in the 1st quarter worth about $54,000. Lindbrook Capital LLC bought a new position in TELUS in the 2nd quarter worth about $68,000. Aperio Group LLC bought a new position in TELUS in the 2nd quarter worth about $116,000. Field & Main Bank bought a new position in TELUS in the 1st quarter worth about $147,000. Finally, Advisor Group Inc. grew its position in TELUS by 36.7% in the 2nd quarter. Advisor Group Inc. now owns 4,451 shares of the Wireless communications provider’s stock worth $164,000 after purchasing an additional 1,196 shares during the last quarter. Hedge funds and other institutional investors own 51.10% of the company’s stock.
Several research analysts have commented on TU shares. Zacks Investment Research upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Bank of America restated a “hold” rating on shares of TELUS in a research report on Friday, May 10th. Citigroup cut shares of TELUS from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 3rd. Canaccord Genuity cut shares of TELUS from a “buy” rating to a “hold” rating in a report on Monday, July 22nd. Finally, Barclays reiterated a “buy” rating and issued a $41.00 price objective on shares of TELUS in a report on Sunday, May 12th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $41.00.
TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Friday, August 2nd. The Wireless communications provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). The company had revenue of $2.75 billion during the quarter, compared to the consensus estimate of $2.69 billion. TELUS had a net margin of 11.91% and a return on equity of 16.75%. On average, analysts forecast that TELUS Co. will post 2.23 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be issued a $0.426 dividend. The ex-dividend date is Monday, September 9th. This is a boost from TELUS’s previous quarterly dividend of $0.42. This represents a $1.70 annualized dividend and a dividend yield of 4.75%. TELUS’s dividend payout ratio (DPR) is 78.04%.
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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