TELUS Corporation (TU) Shares Bought by Scotia Capital Inc.

Scotia Capital Inc. increased its stake in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,232,103 shares of the Wireless communications provider’s stock after purchasing an additional 85,659 shares during the period. TELUS Corporation accounts for approximately 1.3% of Scotia Capital Inc.’s investment portfolio, making the stock its 16th biggest position. Scotia Capital Inc. owned approximately 0.38% of TELUS Corporation worth $77,066,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TU. Franklin Resources Inc. raised its position in shares of TELUS Corporation by 73.8% during the 2nd quarter. Franklin Resources Inc. now owns 6,976,282 shares of the Wireless communications provider’s stock worth $240,943,000 after purchasing an additional 2,963,432 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of TELUS Corporation by 12.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 7,486,696 shares of the Wireless communications provider’s stock worth $257,825,000 after purchasing an additional 806,613 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of TELUS Corporation by 22.9% during the 1st quarter. Renaissance Technologies LLC now owns 4,216,748 shares of the Wireless communications provider’s stock worth $136,967,000 after purchasing an additional 786,148 shares during the last quarter. Fiera Capital Corp raised its position in shares of TELUS Corporation by 34.6% during the 2nd quarter. Fiera Capital Corp now owns 3,038,791 shares of the Wireless communications provider’s stock worth $104,724,000 after purchasing an additional 781,503 shares during the last quarter. Finally, Swiss National Bank grew its stake in TELUS Corporation by 1,203.4% during the 2nd quarter. Swiss National Bank now owns 762,500 shares of the Wireless communications provider’s stock valued at $26,305,000 after acquiring an additional 704,000 shares in the last quarter. Hedge funds and other institutional investors own 50.82% of the company’s stock.

TELUS Corporation (NYSE TU) traded up 0.181% during mid-day trading on Tuesday, hitting $35.935. 175,462 shares of the stock traded hands. The company has a market cap of $21.35 billion, a price-to-earnings ratio of 20.905 and a beta of 0.89. The firm’s 50-day moving average is $35.99 and its 200-day moving average is $34.62. TELUS Corporation has a 12-month low of $30.31 and a 12-month high of $36.94.

TELUS Corporation (NYSE:TU) (TSE:T) last announced its earnings results on Friday, August 11th. The Wireless communications provider reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.05). The business had revenue of $3.27 billion for the quarter, compared to analyst estimates of $3.26 billion. TELUS Corporation had a return on equity of 18.75% and a net margin of 9.55%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.70 EPS. Equities research analysts expect that TELUS Corporation will post $2.13 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Friday, September 8th were given a $0.3884 dividend. This represents a $1.55 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Thursday, September 7th. TELUS Corporation’s dividend payout ratio is presently 100.00%.

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Several analysts recently issued reports on TU shares. Zacks Investment Research raised shares of TELUS Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research note on Friday, July 14th. BidaskClub raised shares of TELUS Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday, June 20th. BMO Capital Markets upped their price objective on shares of TELUS Corporation from $46.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, August 14th. Finally, Barclays PLC upped their price objective on shares of TELUS Corporation from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, August 14th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $43.50.

About TELUS Corporation

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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Institutional Ownership by Quarter for TELUS Corporation (NYSE:TU)

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