1,263,902 Shares in TELUS Corporation $TU Bought by Purpose Unlimited Inc.

Purpose Unlimited Inc. acquired a new stake in TELUS Corporation (NYSE:TU) (TSE:T) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,263,902 shares of the Wireless communications provider’s stock, valued at approximately $16,660,000. TELUS makes up about 0.8% of Purpose Unlimited Inc.’s holdings, making the stock its 27th biggest holding. Purpose Unlimited Inc. owned approximately 0.08% of TELUS at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in TELUS by 1.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 779,692 shares of the Wireless communications provider’s stock worth $11,181,000 after purchasing an additional 11,900 shares in the last quarter. Cetera Investment Advisers boosted its position in TELUS by 1.9% during the 2nd quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock worth $739,000 after buying an additional 841 shares during the period. Legal & General Group Plc boosted its position in TELUS by 159.5% during the 2nd quarter. Legal & General Group Plc now owns 37,274 shares of the Wireless communications provider’s stock worth $597,000 after buying an additional 22,912 shares during the period. EverSource Wealth Advisors LLC grew its holdings in TELUS by 67.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,698 shares of the Wireless communications provider’s stock worth $140,000 after acquiring an additional 3,510 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in TELUS during the 2nd quarter worth approximately $3,617,000. Institutional investors own 49.40% of the company’s stock.

TELUS Stock Down 0.2%

TELUS stock opened at $11.51 on Friday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.63 and a current ratio of 0.67. TELUS Corporation has a 52-week low of $11.43 and a 52-week high of $16.74. The firm has a 50 day moving average price of $12.28 and a two-hundred day moving average price of $12.97. The firm has a market cap of $18.12 billion, a price-to-earnings ratio of 26.16, a PEG ratio of 11.34 and a beta of 0.61.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings data on Friday, May 8th. The Wireless communications provider reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. TELUS had a net margin of 4.54% and a return on equity of 8.29%. The company had revenue of $3.60 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the firm posted $0.26 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Equities analysts predict that TELUS Corporation will post 0.71 EPS for the current year.

TELUS Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 2nd. Investors of record on Wednesday, June 10th will be issued a $0.4184 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $1.67 annualized dividend and a yield of 14.5%. TELUS’s payout ratio is presently 275.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on TU shares. TD Securities raised shares of TELUS from a “buy” rating to a “buy” rating in a research note on Tuesday, April 28th. Scotiabank cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, April 10th. Weiss Ratings downgraded TELUS from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, April 20th. TD Cowen raised TELUS from a “hold” rating to a “buy” rating in a research report on Tuesday, April 28th. Finally, Canaccord Genuity Group downgraded TELUS from a “buy” rating to a “hold” rating in a report on Thursday, April 9th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $16.33.

TELUS Profile

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.