Jefferies Group LLC lifted its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 590.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 135,200 shares of the Wireless communications provider’s stock after acquiring an additional 115,624 shares during the quarter. Jefferies Group LLC’s holdings in TELUS were worth $4,996,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also recently modified their holdings of TU. Kempen Capital Management N.V. acquired a new position in shares of TELUS during the second quarter worth $45,000. Northwestern Mutual Wealth Management Co. acquired a new position in TELUS in the first quarter valued at $54,000. Lindbrook Capital LLC acquired a new position in TELUS in the second quarter valued at $68,000. Neuburgh Advisers LLC boosted its stake in TELUS by 13.2% in the second quarter. Neuburgh Advisers LLC now owns 3,152 shares of the Wireless communications provider’s stock valued at $112,000 after acquiring an additional 368 shares in the last quarter. Finally, Aperio Group LLC acquired a new position in TELUS in the second quarter valued at $116,000. Hedge funds and other institutional investors own 54.41% of the company’s stock.
Several equities analysts have issued reports on TU shares. Citigroup downgraded shares of TELUS from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 3rd. Canaccord Genuity downgraded shares of TELUS from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $41.00.
Shares of TU traded up $0.02 during mid-day trading on Friday, hitting $36.77. 97,816 shares of the company’s stock were exchanged, compared to its average volume of 465,600. TELUS Co. has a fifty-two week low of $32.46 and a fifty-two week high of $38.32. The firm has a market capitalization of $22.06 billion, a P/E ratio of 17.18, a P/E/G ratio of 2.08 and a beta of 0.69. The business’s 50 day moving average is $36.17 and its two-hundred day moving average is $36.64. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 1.42.
TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, August 2nd. The Wireless communications provider reported $0.53 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.01). TELUS had a return on equity of 16.75% and a net margin of 11.91%. The business had revenue of $2.75 billion for the quarter, compared to analyst estimates of $2.69 billion. On average, equities research analysts forecast that TELUS Co. will post 2.2 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.426 per share. This is an increase from TELUS’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Monday, September 9th. This represents a $1.70 annualized dividend and a dividend yield of 4.63%. TELUS’s dividend payout ratio is 78.97%.
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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