Candriam Luxembourg S.C.A. boosted its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 37.1% during the second quarter, Holdings Channel reports. The institutional investor owned 64,077 shares of the Wireless communications provider’s stock after buying an additional 17,342 shares during the period. Candriam Luxembourg S.C.A.’s holdings in TELUS Corporation were worth $2,209,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Korea Investment CORP purchased a new position in shares of TELUS Corporation during the first quarter worth approximately $156,000. Perkins Coie Trust Co purchased a new position in shares of TELUS Corporation during the second quarter worth approximately $173,000. Mckinley Capital Management LLC Delaware purchased a new position in shares of TELUS Corporation during the first quarter worth approximately $193,000. Kassirer Asset Management Corp purchased a new position in shares of TELUS Corporation during the second quarter worth approximately $209,000. Finally, ING Groep NV purchased a new position in shares of TELUS Corporation during the first quarter worth approximately $212,000. 52.53% of the stock is currently owned by hedge funds and other institutional investors.

Shares of TELUS Corporation (NYSE:TU) opened at 35.68 on Friday. The company has a market capitalization of $21.09 billion, a price-to-earnings ratio of 20.83 and a beta of 0.89. The company’s 50 day moving average price is $35.36 and its 200-day moving average price is $33.67. TELUS Corporation has a 1-year low of $30.31 and a 1-year high of $36.77.

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A number of brokerages have recently commented on TU. Canaccord Genuity reaffirmed a “buy” rating and set a $47.00 price target on shares of TELUS Corporation in a research report on Monday, May 8th. BidaskClub raised TELUS Corporation from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research raised TELUS Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. TELUS Corporation presently has a consensus rating of “Buy” and an average target price of $41.33.

TELUS Corporation Company Profile

TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.

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Institutional Ownership by Quarter for TELUS Corporation (NYSE:TU)

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