TELUS Co. (NYSE:TU) Stock Holdings Lifted by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. raised its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 7.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 375,091 shares of the Wireless communications provider’s stock after purchasing an additional 26,655 shares during the quarter. Cardinal Capital Management Inc.’s holdings in TELUS were worth $5,074,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. National Bank of Canada FI lifted its position in TELUS by 24.2% in the 3rd quarter. National Bank of Canada FI now owns 26,160,789 shares of the Wireless communications provider’s stock worth $438,922,000 after buying an additional 5,094,269 shares in the last quarter. FMR LLC raised its holdings in shares of TELUS by 192.0% during the third quarter. FMR LLC now owns 1,326,632 shares of the Wireless communications provider’s stock worth $22,257,000 after acquiring an additional 872,235 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of TELUS by 5.4% during 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 buying an additional 636,845 shares during the last quarter. Centre Asset Management LLC bought a new position in TELUS during the fourth quarter valued at about $6,946,000. Finally, Duff & Phelps Investment Management Co. lifted its holdings in TELUS by 13.5% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 2,666,500 shares of the Wireless communications provider’s stock worth $44,785,000 after purchasing an additional 317,000 shares during the last quarter. Hedge funds and other institutional investors own 49.40% of the company’s stock.

TELUS Trading Up 0.6 %

Shares of TU stock opened at $14.16 on Thursday. The stock has a market cap of $21.23 billion, a price-to-earnings ratio of 30.12, a P/E/G ratio of 4.67 and a beta of 0.74. The firm has a fifty day moving average of $14.51 and a 200-day moving average of $15.58. TELUS Co. has a 52-week low of $13.24 and a 52-week high of $18.55. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.69.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.69 billion. During the same period in the prior year, the firm posted $0.19 EPS. TELUS’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that TELUS Co. will post 0.72 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Wednesday, December 11th were issued a $0.297 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 8.39%. This is a boost from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. TELUS’s payout ratio is currently 242.56%.

Wall Street Analysts Forecast Growth

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

TELUS Company 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.