Heathbridge Capital Management Ltd. Buys 1,025,100 Shares of TELUS Corporation $TU

Heathbridge Capital Management Ltd. boosted its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 69.9% in the third quarter, Holdings Channel.com reports. The firm owned 2,491,200 shares of the Wireless communications provider’s stock after acquiring an additional 1,025,100 shares during the period. TELUS makes up about 7.0% of Heathbridge Capital Management Ltd.’s investment portfolio, making the stock its 3rd largest position. Heathbridge Capital Management Ltd.’s holdings in TELUS were worth $20,915,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nykredit A S bought a new position in shares of TELUS during the second quarter worth about $33,000. SBI Securities Co. Ltd. lifted its stake in TELUS by 79.6% in the 3rd quarter. SBI Securities Co. Ltd. now owns 3,695 shares of the Wireless communications provider’s stock valued at $31,000 after acquiring an additional 1,638 shares in the last quarter. Trust Co. of Vermont bought a new stake in TELUS in the 2nd quarter valued at approximately $55,000. Summit Securities Group LLC lifted its stake in TELUS by 762.5% in the 1st quarter. Summit Securities Group LLC now owns 6,900 shares of the Wireless communications provider’s stock valued at $89,000 after acquiring an additional 6,100 shares in the last quarter. Finally, ABN Amro Investment Solutions acquired a new position in TELUS during the 1st quarter worth approximately $150,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TU shares. National Bank Financial downgraded shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Tuesday, August 4th. Desjardins cut shares of TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 4th. Wall Street Zen cut shares of TELUS from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Raymond James Financial started coverage on shares of TELUS in a research report on Wednesday, July 15th. They issued a “market perform” rating for the company. Finally, Zacks Research lowered shares of TELUS from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $15.00.

TELUS Stock Down 1.6%

TU stock opened at $8.90 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 1.88. The firm has a market capitalization of $14.15 billion, a PE ratio of 14.84, a PEG ratio of 21.33 and a beta of 0.63. TELUS Corporation has a 1-year low of $7.64 and a 1-year high of $14.95. The business’s 50 day simple moving average is $8.75 and its 200 day simple moving average is $11.30.

TELUS Profile

TELUS Corporation is a Canadian communications and technology company headquartered in Vancouver, British Columbia. It provides telecommunications and digital services to consumers, businesses and public-sector organizations, primarily in Canada.

Its core offerings include wireless voice and data services, high-speed internet, television, home security and fixed-line voice services. TELUS also provides business connectivity, cloud, cybersecurity, information technology and communications solutions.