TELUS Co. (NYSE:TU) is Nexus Investment Management ULC’s 9th Largest Position

Nexus Investment Management ULC lessened its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,186,815 shares of the Wireless communications provider’s stock after selling 18,080 shares during the period. TELUS comprises about 3.6% of Nexus Investment Management ULC’s portfolio, making the stock its 9th largest holding. Nexus Investment Management ULC owned 0.15% of TELUS worth $36,733,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Canada Pension Plan Investment Board increased its stake in shares of TELUS by 11.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 1,252,092 shares of the Wireless communications provider’s stock valued at $20,050,000 after purchasing an additional 126,488 shares in the last quarter. Toronto Dominion Bank increased its stake in shares of TELUS by 5.4% in the 2nd quarter. Toronto Dominion Bank now owns 12,472,610 shares of the Wireless communications provider’s stock valued at $188,835,000 after purchasing an additional 636,845 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of TELUS by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 22,834,015 shares of the Wireless communications provider’s stock valued at $406,217,000 after purchasing an additional 1,044,988 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of TELUS in the 1st quarter valued at about $1,991,000. Finally, Virtu Financial LLC purchased a new position in shares of TELUS in the 4th quarter valued at about $376,000. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TU shares. StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Canaccord Genuity Group lowered TELUS from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.00.

TELUS Stock Performance

NYSE:TU opened at $16.14 on Wednesday. The company has a market cap of $23.82 billion, a P/E ratio of 41.37, a P/E/G ratio of 2.43 and a beta of 0.74. TELUS Co. has a twelve month low of $14.63 and a twelve month high of $19.14. The company’s 50-day moving average price is $16.41 and its 200-day moving average price is $16.13. The company has a current ratio of 0.66, a quick ratio of 0.61 and a debt-to-equity ratio of 1.46.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Friday, August 2nd. The Wireless communications provider reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. The firm had revenue of $3.64 billion for the quarter, compared to analyst estimates of $3.70 billion. TELUS had a net margin of 3.87% and a return on equity of 8.50%. During the same period in the previous year, the business posted $0.14 earnings per share. On average, sell-side analysts forecast that TELUS Co. will post 0.73 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 10th were given a dividend of $0.284 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This is a positive change from TELUS’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 7.04%. TELUS’s payout ratio is presently 294.87%.

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.