Janney Montgomery Scott LLC Increases Stake in TELUS Co. (NYSE:TU)

Janney Montgomery Scott LLC increased its stake in shares of TELUS Co. (NYSE:TU – Free Report) (TSE:T) by 44.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The company owned 41,615 shares of the wireless communications provider after acquiring an additional 12,826 shares during the quarter. Janney Montgomery Scott LLC’s shares of TELUS were worth $666,000 at the end of the most recent reporting period.

A number of other institutional investors also adjusted their TU holdings. Capital Research Global Investors increased its position in shares of TELUS by 215.8% in the fourth quarter. Capital Research Global Investors now owns 22,214,210 shares of the wireless communications provider’s stock worth $395,314,000 after acquiring an additional 15,179,110 shares during the period. TD Asset Management Inc increased its position in TELUS by 18.4% in the fourth quarter. TD Asset Management Inc now owns 40,669,392 shares of the wireless communications provider’s stock worth $727,275,000 after acquiring an additional 6,334,692 shares during the period. Clearbridge Investments LLC purchased a new position in TELUS during the fourth quarter worth approximately $109,327,000. Norges Bank bought a new position in TELUS during the fourth quarter worth approximately $82,775,000. Finally, The Manufacturers Life Insurance Company increased its shares in TELUS by 15.5% during the fourth quarter. The Manufacturers Life Insurance Company now owns 28,705,377 shares of the Wireless communications provider’s stock worth $511,646,000 after purchasing an additional 3,860,487 shares during the period. 49.40% of the shares are held by hedge funds and other institutional investors.

TELUS Price Performance

NYSE TU opened Friday at $15.82. The company’s 50-day simple moving average is $15.90 and its 200-day simple moving average is $16.65. The company has a current ratio of 0.75, a quick ratio of 0.70 and a debt-to-equity ratio of 1.42. TELUS Co. has a 12-month low of $14.63 and a 12-month high of $19.14. The company has a market cap of $23.35 billion, a P/E ratio of 40.57, a P/E/G ratio of 2.39 and a beta of 0.73.

TELUS (NYSE:TU – Get Free Report) (TSE:T) last released its quarterly results on Thursday, May 9. The wireless communications provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.01. TELUS had a net margin of 3.73% and a return on equity of 7.90%. The company had revenue of $3.66 billion for the quarter, compared to analyst estimates of $3.73 billion. Analysts predict that TELUS Co. will post 0.75 EPS for the current fiscal year.

TELUS raises dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Shareholders of record on Monday, June 10th were given a dividend of $0.282 per share. This is an increase from TELUS’s previous quarterly dividend of $0.28. This represents an annualized dividend of $1.13 and a dividend yield of 7.13%. The ex-dividend date was Monday, June 10th. TELUS’s payout ratio currently stands at 292.32%.

Changes in analyst ratings

Several equities analysts have recently issued reports on the stock. Scotiabank reissued a “sector perform” rating and set a $26.00 price target on shares of TELUS (down from $28.00) in a report on Monday, March 25th. StockNews.com downgraded shares of TELUS from a “hold” rating to a “sell” rating in a report on Friday, June 14th. One analyst has rated the stock with a sell, three have assigned a hold rating, and one has given the company a buy rating. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $27.00.

Check out our latest report on TELUS

About TELUS

(Free Report)

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through the Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment provides a range of telecommunications products and services; network services; healthcare services; mobile technology devices; data services, such as Internet Protocol; television; hosting, managed information technology and cloud-based services; software, data management and data analytics-driven smart food chain and consumer goods technologies; security for the home and workplace; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.

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