TD Asset Management Inc. Purchases 1,069,042 Shares of TELUS Co. (TU)
TD Asset Management Inc. boosted its position in TELUS Co. (NYSE:TU) (TSE:T) by 4.7% in the first quarter, Holdings Channel reports. The institutional investor owned 23,771,390 shares of the Wireless communications provider’s stock after purchasing an additional 1,069,042 shares during the period. TELUS makes up approximately 1.3% of TD Asset Management Inc.’s holdings, making the stock its 12th largest holding. TD Asset Management Inc.’s holdings in TELUS were worth $880,073,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the business. ARP Americas LP increased its position in TELUS by 2.5% in the fourth quarter. ARP Americas LP now owns 14,433 shares of the Wireless communications provider’s stock worth $479,000 after buying an additional 346 shares during the last quarter. Gluskin Sheff & Assoc Inc. increased its position in TELUS by 5.7% in the fourth quarter. Gluskin Sheff & Assoc Inc. now owns 7,044 shares of the Wireless communications provider’s stock worth $233,000 after buying an additional 380 shares during the last quarter. Proficio Capital Partners LLC increased its position in TELUS by 199.7% in the fourth quarter. Proficio Capital Partners LLC now owns 959 shares of the Wireless communications provider’s stock worth $32,000 after buying an additional 639 shares during the last quarter. Advisor Group Inc. increased its position in TELUS by 21.2% in the fourth quarter. Advisor Group Inc. now owns 3,997 shares of the Wireless communications provider’s stock worth $132,000 after buying an additional 699 shares during the last quarter. Finally, Van ECK Associates Corp purchased a new stake in TELUS in the fourth quarter worth $25,000. 51.07% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on TU. Zacks Investment Research raised TELUS from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Barclays reaffirmed a “buy” rating and issued a $41.00 price target on shares of TELUS in a report on Sunday, May 12th. TheStreet raised TELUS from a “c+” rating to a “b-” rating in a report on Thursday, April 4th. Canaccord Genuity reaffirmed a “buy” rating on shares of TELUS in a report on Friday, February 15th. Finally, Echelon Wealth Partners reaffirmed a “buy” rating on shares of TELUS in a report on Friday, February 15th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $41.00.
TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Thursday, May 9th. The Wireless communications provider reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.01. TELUS had a return on equity of 16.98% and a net margin of 11.15%. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same period last year, the company earned $0.69 earnings per share. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts expect that TELUS Co. will post 2.2 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be issued a $0.4191 dividend. This is a positive change from TELUS’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, June 7th. TELUS’s dividend payout ratio (DPR) is presently 77.10%.
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TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.
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