TELUS Corporation $TU Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in TELUS Corporation (NYSE:TU) (TSE:T) by 8.8% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 2,588,678 shares of the Wireless communications provider’s stock after buying an additional 208,532 shares during the quarter. Federated Hermes Inc. owned approximately 0.17% of TELUS worth $41,574,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Blue Trust Inc. lifted its holdings in TELUS by 26.1% in the second quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock worth $52,000 after acquiring an additional 667 shares during the last quarter. CWM LLC raised its position in shares of TELUS by 169.6% during the 2nd quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock worth $59,000 after purchasing an additional 2,301 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of TELUS in the 1st quarter worth approximately $134,000. EverSource Wealth Advisors LLC boosted its position in TELUS by 67.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,698 shares of the Wireless communications provider’s stock valued at $140,000 after purchasing an additional 3,510 shares during the period. Finally, Golden State Equity Partners bought a new position in TELUS during the 2nd quarter worth $161,000. Institutional investors own 49.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and set a $19.00 price target (down previously from $22.00) on shares of TELUS in a report on Tuesday, November 18th. Citigroup raised shares of TELUS to a “buy” rating in a research note on Thursday. Barclays dropped their price target on shares of TELUS from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Monday, November 10th. National Bankshares reiterated an “outperform” rating on shares of TELUS in a research report on Thursday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of TELUS in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $18.17.

TELUS Trading Down 0.9%

Shares of NYSE:TU opened at $13.39 on Tuesday. The company has a 50 day moving average of $14.48 and a 200-day moving average of $15.60. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.47. The firm has a market cap of $20.72 billion, a P/E ratio of 24.34, a P/E/G ratio of 2.18 and a beta of 0.67. TELUS Corporation has a twelve month low of $12.80 and a twelve month high of $16.74.

TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, November 7th. The Wireless communications provider reported $0.17 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.02). The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.77 billion. TELUS had a return on equity of 8.76% and a net margin of 5.71%.TELUS’s revenue for the quarter was up .1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 EPS. As a group, analysts anticipate that TELUS Corporation will post 0.71 earnings per share for the current fiscal year.

TELUS Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 11th will be issued a $0.4184 dividend. This represents a $1.67 annualized dividend and a dividend yield of 12.5%. This is a positive change from TELUS’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, December 11th. TELUS’s payout ratio is currently 220.00%.

About TELUS

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.