Tower Research Capital LLC TRC Boosts Stake in TELUS Co. (NYSE:TU)

Tower Research Capital LLC TRC grew its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 20,331.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,689 shares of the Wireless communications provider’s stock after purchasing an additional 13,622 shares during the quarter. Tower Research Capital LLC TRC’s holdings in TELUS were worth $488,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of TU. Executive Wealth Management LLC acquired a new position in shares of TELUS during the third quarter worth about $28,000. Kempen Capital Management N.V. acquired a new position in shares of TELUS during the second quarter worth about $45,000. Quadrant Capital Group LLC acquired a new position in shares of TELUS during the third quarter worth about $45,000. Lindbrook Capital LLC acquired a new position in shares of TELUS during the second quarter worth about $68,000. Finally, Neuburgh Advisers LLC lifted its stake in shares of TELUS by 13.2% during the second quarter. Neuburgh Advisers LLC now owns 3,152 shares of the Wireless communications provider’s stock worth $112,000 after purchasing an additional 368 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

NYSE:TU opened at $38.17 on Monday. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.73 and a current ratio of 0.80. TELUS Co. has a one year low of $32.46 and a one year high of $38.32. The business’s 50-day simple moving average is $36.06 and its 200 day simple moving average is $36.51. The stock has a market cap of $22.81 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 2.70 and a beta of 0.67.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings results on Thursday, November 7th. The Wireless communications provider reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.01. TELUS had a return on equity of 16.54% and a net margin of 11.91%. The business had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter in the previous year, the firm posted $0.74 earnings per share. The company’s revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts predict that TELUS Co. will post 2.2 EPS for the current year.

A number of research analysts have commented on the company. Echelon Wealth Partners restated a “buy” rating and set a $56.00 price objective on shares of TELUS in a research note on Tuesday, November 12th. Scotiabank upgraded TELUS from a “sector perform” rating to an “outperform” rating in a research note on Friday, November 8th. Canaccord Genuity cut TELUS from a “buy” rating to a “hold” rating in a research note on Monday, July 22nd. Finally, Bank of America upgraded TELUS from a “neutral” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $49.67.

TELUS Company Profile

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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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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