Bessemer Group Inc. Has $60.76 Million Stock Position in TELUS Corporation $TU

Bessemer Group Inc. grew its holdings in TELUS Corporation (NYSE:TU) (TSE:T) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,862,170 shares of the Wireless communications provider’s stock after acquiring an additional 433,198 shares during the quarter. Bessemer Group Inc. owned 0.25% of TELUS worth $60,761,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Blue Trust Inc. raised its stake in TELUS by 26.1% in the 2nd quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock worth $52,000 after purchasing an additional 667 shares in the last quarter. Walter Public Investments Inc. increased its holdings in shares of TELUS by 1.9% during the third quarter. Walter Public Investments Inc. now owns 39,334 shares of the Wireless communications provider’s stock worth $619,000 after purchasing an additional 750 shares during the period. B. Riley Wealth Advisors Inc. raised its position in shares of TELUS by 7.0% in the third quarter. B. Riley Wealth Advisors Inc. now owns 11,483 shares of the Wireless communications provider’s stock valued at $181,000 after buying an additional 755 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of TELUS by 35.0% in the third quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock valued at $46,000 after buying an additional 759 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of TELUS by 1.9% in the second quarter. Cetera Investment Advisers now owns 46,099 shares of the Wireless communications provider’s stock valued at $739,000 after buying an additional 841 shares during the period. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Stock Up 0.1%

TU stock opened at $14.28 on Friday. The firm has a 50-day moving average price of $13.30 and a 200-day moving average price of $14.74. TELUS Corporation has a 12 month low of $12.54 and a 12 month high of $16.74. The company has a current ratio of 0.76, a quick ratio of 0.71 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $22.11 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 2.17 and a beta of 0.67.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.02). TELUS had a return on equity of 8.76% and a net margin of 5.71%.The company had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.77 billion. During the same quarter in the prior year, the company earned $0.28 earnings per share. TELUS’s revenue for the quarter was up .1% compared to the same quarter last year. As a group, equities research analysts anticipate that TELUS Corporation will post 0.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. National Bankshares restated an “outperform” rating on shares of TELUS in a research note on Thursday, December 4th. Natl Bk Canada raised TELUS from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 25th. Citigroup raised TELUS to a “buy” rating in a research note on Thursday, December 4th. Canaccord Genuity Group raised shares of TELUS from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Finally, National Bank Financial raised shares of TELUS from a “sector perform” rating to an “outperform” rating in a report on Wednesday, November 19th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $18.17.

TELUS Company 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.