Fiera Capital Corp Buys 34,443 Shares of TELUS Co. (NYSE:TU)

Fiera Capital Corp raised its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,140,901 shares of the Wireless communications provider’s stock after buying an additional 34,443 shares during the period. Fiera Capital Corp owned 0.52% of TELUS worth $116,218,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Forsta AP Fonden increased its stake in shares of TELUS by 11.1% during the 1st quarter. Forsta AP Fonden now owns 259,489 shares of the Wireless communications provider’s stock worth $9,611,000 after purchasing an additional 25,900 shares during the last quarter. First Trust Advisors LP increased its stake in shares of TELUS by 10.0% during the 1st quarter. First Trust Advisors LP now owns 1,320,257 shares of the Wireless communications provider’s stock worth $48,902,000 after purchasing an additional 119,816 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in TELUS by 3.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,379,276 shares of the Wireless communications provider’s stock valued at $145,089,000 after buying an additional 132,558 shares during the last quarter. Enlightenment Research LLC acquired a new position in TELUS in the 4th quarter valued at about $60,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in TELUS in the 4th quarter valued at about $390,000. Hedge funds and other institutional investors own 51.13% of the company’s stock.

TU has been the subject of a number of recent research reports. TheStreet raised shares of TELUS from a “c+” rating to a “b-” rating in a report on Thursday, April 4th. Royal Bank of Canada reaffirmed a “buy” rating on shares of TELUS in a report on Tuesday, April 9th. Barclays reaffirmed a “buy” rating and set a $41.00 price target on shares of TELUS in a report on Sunday, May 12th. Zacks Investment Research upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research report on Tuesday, May 14th. Finally, Bank of America reiterated a “hold” rating on shares of TELUS in a research report on Friday, May 10th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $41.00.

Shares of TU traded up $0.06 during trading hours on Monday, hitting $36.97. The company’s stock had a trading volume of 192,500 shares, compared to its average volume of 400,974. The company has a market cap of $22.18 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 2.10 and a beta of 0.73. The company has a current ratio of 0.77, a quick ratio of 0.70 and a debt-to-equity ratio of 1.39. TELUS Co. has a 52-week low of $32.46 and a 52-week high of $38.32. The company has a 50 day moving average price of $37.00.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Thursday, May 9th. The Wireless communications provider reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.01. The company had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.52 billion. TELUS had a return on equity of 16.98% and a net margin of 11.15%. TELUS’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. As a group, sell-side analysts anticipate that TELUS Co. will post 2.2 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 10th will be issued a $0.4191 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $1.68 dividend on an annualized basis and a yield of 4.53%. This is a boost from TELUS’s previous quarterly dividend of $0.41. TELUS’s dividend payout ratio (DPR) is presently 78.04%.

About TELUS

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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