Fjarde AP Fonden Fourth Swedish National Pension Fund Purchases Shares of 254,100 TELUS Corporation $TU

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in TELUS Corporation (NYSE:TU) (TSE:T) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 254,100 shares of the Wireless communications provider’s stock, valued at approximately $3,260,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. First Trust Advisors LP boosted its stake in TELUS by 11.0% during the third quarter. First Trust Advisors LP now owns 7,478,636 shares of the Wireless communications provider’s stock valued at $117,922,000 after buying an additional 743,471 shares during the last quarter. K.J. Harrison & Partners Inc raised its holdings in shares of TELUS by 307.9% during the 4th quarter. K.J. Harrison & Partners Inc now owns 222,192 shares of the Wireless communications provider’s stock worth $2,933,000 after acquiring an additional 167,714 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of TELUS by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 29,470,046 shares of the Wireless communications provider’s stock valued at $388,415,000 after acquiring an additional 916,459 shares during the last quarter. Letko Brosseau & Associates Inc. grew its holdings in shares of TELUS by 2.2% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 6,775,387 shares of the Wireless communications provider’s stock valued at $89,416,000 after purchasing an additional 148,325 shares in the last quarter. Finally, Purpose Unlimited Inc. purchased a new position in shares of TELUS in the fourth quarter valued at $16,660,000. Institutional investors own 49.40% of the company’s stock.

TELUS Trading Up 0.4%

Shares of TU opened at $10.23 on Tuesday. The company’s fifty day simple moving average is $12.01 and its 200-day simple moving average is $12.81. The company has a market cap of $16.10 billion, a P/E ratio of 23.25, a P/E/G ratio of 10.01 and a beta of 0.63. The company has a current ratio of 0.67, a quick ratio of 0.63 and a debt-to-equity ratio of 1.59. TELUS Corporation has a twelve month low of $10.07 and a twelve month high of $16.74.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, May 8th. The Wireless communications provider reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The company had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the prior year, the firm posted $0.26 EPS. The firm’s revenue was down .6% compared to the same quarter last year. As a group, analysts expect that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 2nd. Stockholders of record on Wednesday, June 10th were paid a dividend of $0.4184 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $1.67 dividend on an annualized basis and a dividend yield of 16.4%. TELUS’s dividend payout ratio is currently 275.00%.

Wall Street Analyst Weigh In

TU has been the topic of a number of recent research reports. TD Securities raised shares of TELUS from a “buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Weiss Ratings cut shares of TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, April 20th. TD Cowen upgraded shares of TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Scotiabank downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, April 10th. Finally, Canaccord Genuity Group lowered TELUS from a “buy” rating to a “hold” rating in a research report on Thursday, April 9th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, TELUS presently has a consensus rating of “Hold” and an average price target of $16.33.

TELUS Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.