Carnegie Capital Asset Management LLC Acquires 9,450 Shares of TELUS Co. (NYSE:TU)

Carnegie Capital Asset Management LLC increased its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 99.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,000 shares of the Wireless communications provider’s stock after acquiring an additional 9,450 shares during the period. Carnegie Capital Asset Management LLC’s holdings in TELUS were worth $299,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its position in TELUS by 0.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 43,301 shares of the Wireless communications provider’s stock worth $1,677,000 after acquiring an additional 364 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in TELUS by 6.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 6,483 shares of the Wireless communications provider’s stock worth $251,000 after acquiring an additional 367 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in TELUS by 6.7% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 6,010 shares of the Wireless communications provider’s stock worth $233,000 after acquiring an additional 377 shares during the last quarter. Candriam Luxembourg S.C.A. grew its position in TELUS by 0.5% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 90,149 shares of the Wireless communications provider’s stock worth $3,495,000 after acquiring an additional 416 shares during the last quarter. Finally, US Bancorp DE grew its position in TELUS by 18.8% during the 4th quarter. US Bancorp DE now owns 3,325 shares of the Wireless communications provider’s stock worth $128,000 after acquiring an additional 525 shares during the last quarter. Institutional investors and hedge funds own 28.74% of the company’s stock.

Shares of NYSE:TU opened at $16.17 on Friday. The company has a market capitalization of $20.67 billion, a price-to-earnings ratio of 15.47, a P/E/G ratio of 3.58 and a beta of 0.67. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.90 and a quick ratio of 0.83. The business’s 50-day moving average is $16.08 and its 200-day moving average is $18.07. TELUS Co. has a 1 year low of $13.54 and a 1 year high of $20.91.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Thursday, May 7th. The Wireless communications provider reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.07. TELUS had a return on equity of 14.94% and a net margin of 11.25%. The company had revenue of $3.69 billion for the quarter, compared to the consensus estimate of $3.66 billion. During the same period in the previous year, the business earned $0.38 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. Analysts anticipate that TELUS Co. will post 0.86 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th will be paid a dividend of $0.2058 per share. This represents a $0.82 dividend on an annualized basis and a yield of 5.09%. The ex-dividend date of this dividend is Tuesday, June 9th. TELUS’s dividend payout ratio (DPR) is currently 79.09%.

TU has been the topic of a number of research reports. Zacks Investment Research lowered TELUS from a “hold” rating to a “sell” rating and set a $17.50 price objective on the stock. in a research report on Monday, March 16th. Desjardins reaffirmed a “buy” rating on shares of TELUS in a report on Thursday, February 27th. ValuEngine downgraded TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. Royal Bank of Canada reaffirmed a “buy” rating and set a $24.00 target price on shares of TELUS in a report on Wednesday, April 8th. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $23.00 target price (up from $22.00) on shares of TELUS in a report on Friday, May 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. TELUS presently has a consensus rating of “Hold” and an average price target of $25.56.

TELUS Profile

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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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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