Nexus Investment Management ULC Purchases 38,450 Shares of TELUS Co. (NYSE:TU)

Nexus Investment Management ULC grew its position in TELUS Co. (NYSE:TU) (TSE:T) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,225,265 shares of the Wireless communications provider’s stock after buying an additional 38,450 shares during the period. TELUS makes up about 3.0% of Nexus Investment Management ULC’s investment portfolio, making the stock its 14th largest holding. Nexus Investment Management ULC owned about 0.15% of TELUS worth $30,103,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TU. 1832 Asset Management L.P. boosted its position in shares of TELUS by 6.6% during the second quarter. 1832 Asset Management L.P. now owns 38,193,733 shares of the Wireless communications provider’s stock valued at $578,253,000 after buying an additional 2,365,753 shares during the last quarter. National Bank of Canada FI lifted its stake in TELUS by 24.2% during the 3rd quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock valued at $438,922,000 after acquiring an additional 5,094,269 shares during the period. Fiera Capital Corp boosted its holdings in shares of TELUS by 1.3% during the 3rd quarter. Fiera Capital Corp now owns 16,882,528 shares of the Wireless communications provider’s stock valued at $283,854,000 after acquiring an additional 211,815 shares during the last quarter. Toronto Dominion Bank grew its stake in shares of TELUS by 5.4% in the second quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider’s stock worth $188,835,000 after acquiring an additional 636,845 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of TELUS by 0.7% during the third quarter. Janus Henderson Group PLC now owns 6,701,819 shares of the Wireless communications provider’s stock valued at $112,610,000 after purchasing an additional 49,088 shares during the last quarter. Institutional investors own 49.40% of the company’s stock.

Analyst Upgrades and Downgrades

TU has been the subject of a number of research analyst reports. National Bank Financial downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. StockNews.com lowered TELUS from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Morgan Stanley initiated coverage on TELUS in a research report on Monday, December 16th. They set an “equal weight” rating for the company. Finally, Scotiabank raised TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, TELUS presently has a consensus rating of “Hold” and an average target price of $26.00.

TELUS Trading Up 0.5 %

Shares of TU stock opened at $13.94 on Friday. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.63. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 29.65, a PEG ratio of 1.93 and a beta of 0.74. TELUS Co. has a 1 year low of $13.24 and a 1 year high of $18.55. The firm has a fifty day moving average price of $14.61 and a 200-day moving average price of $15.59.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.11. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the company posted $0.19 earnings per share. TELUS’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts predict that TELUS Co. will post 0.73 earnings per share for the current year.

TELUS Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Wednesday, December 11th were paid a dividend of $0.297 per share. This is a boost from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. This represents a $1.19 dividend on an annualized basis and a yield of 8.53%. TELUS’s dividend payout ratio (DPR) is presently 242.56%.

TELUS Profile

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.