Capstone Asset Management Co. decreased its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 235,105 shares of the Wireless communications provider’s stock after selling 7,925 shares during the period. Capstone Asset Management Co.’s holdings in TELUS were worth $8,116,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Comerica Bank increased its position in TELUS by 11.1% in the fourth quarter. Comerica Bank now owns 33,594 shares of the Wireless communications provider’s stock valued at $1,130,000 after buying an additional 3,369 shares during the last quarter. Envestnet Asset Management Inc. increased its position in TELUS by 14.7% in the fourth quarter. Envestnet Asset Management Inc. now owns 19,218 shares of the Wireless communications provider’s stock valued at $612,000 after buying an additional 2,457 shares during the last quarter. A.R.T. Advisors LLC acquired a new position in TELUS during the fourth quarter valued at about $321,000. Norges Bank acquired a new position in TELUS during the fourth quarter valued at about $42,854,000. Finally, UBS Asset Management Americas Inc. increased its position in TELUS by 3.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 853,738 shares of the Wireless communications provider’s stock valued at $27,215,000 after buying an additional 27,398 shares during the last quarter. 52.86% of the stock is owned by hedge funds and other institutional investors.
TELUS Co. (NYSE TU) traded down 0.03% during trading on Monday, hitting $34.65. 466,702 shares of the stock traded hands. TELUS Co. has a 12 month low of $30.31 and a 12 month high of $34.88. The company has a 50-day moving average price of $33.88 and a 200-day moving average price of $33.03. The stock has a market cap of $20.48 billion, a PE ratio of 20.96 and a beta of 0.89.
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 4th. Shareholders of record on Friday, June 9th were given a dividend of $0.4925 per share. The ex-dividend date was Wednesday, June 7th. This represents a $1.97 annualized dividend and a yield of 5.69%. This is a boost from TELUS’s previous quarterly dividend of $0.37. TELUS’s dividend payout ratio is presently 89.02%.
Several equities analysts have recently issued reports on TU shares. Zacks Investment Research raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Friday, March 17th. CIBC raised shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, April 5th. Canaccord Genuity reaffirmed a “buy” rating and set a $47.00 price target on shares of TELUS in a research note on Monday, May 8th. Finally, BidaskClub raised shares of TELUS from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. TELUS has a consensus rating of “Buy” and a consensus target price of $42.50.
TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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