Mackenzie Financial Corp Purchases 121,450 Shares of TELUS Corporation (TU)

Mackenzie Financial Corp increased its position in shares of TELUS Corporation (NYSE:TU) (TSE:T) by 2.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,311,659 shares of the Wireless communications provider’s stock after acquiring an additional 121,450 shares during the period. TELUS comprises approximately 0.8% of Mackenzie Financial Corp’s portfolio, making the stock its 26th biggest holding. Mackenzie Financial Corp owned about 0.73% of TELUS worth $155,090,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. TD Asset Management Inc. increased its position in TELUS by 1.9% during the second quarter. TD Asset Management Inc. now owns 25,245,820 shares of the Wireless communications provider’s stock worth $870,297,000 after buying an additional 463,218 shares during the last quarter. FMR LLC increased its position in TELUS by 1.3% during the second quarter. FMR LLC now owns 21,678,829 shares of the Wireless communications provider’s stock worth $748,428,000 after buying an additional 279,046 shares during the last quarter. CIBC Asset Management Inc increased its position in TELUS by 11.0% during the third quarter. CIBC Asset Management Inc now owns 9,555,688 shares of the Wireless communications provider’s stock worth $342,797,000 after buying an additional 944,856 shares during the last quarter. Great West Life Assurance Co. Can increased its position in TELUS by 3.6% during the third quarter. Great West Life Assurance Co. Can now owns 7,756,182 shares of the Wireless communications provider’s stock worth $278,502,000 after buying an additional 269,486 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in TELUS by 73.8% during the second quarter. Franklin Resources Inc. now owns 6,976,282 shares of the Wireless communications provider’s stock worth $240,943,000 after buying an additional 2,963,432 shares during the last quarter. Institutional investors and hedge funds own 52.23% of the company’s stock.

Several research firms have commented on TU. BidaskClub downgraded shares of TELUS from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 12th. Barclays increased their target price on shares of TELUS from $38.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, August 14th. BMO Capital Markets increased their target price on shares of TELUS from $46.00 to $47.00 and gave the stock an “outperform” rating in a research report on Monday, August 14th. Morgan Stanley increased their target price on shares of TELUS from $48.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Friday, November 17th. Finally, Bank of America began coverage on shares of TELUS in a research report on Tuesday, November 21st. They set a “neutral” rating and a $39.00 target price on the stock. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. TELUS has an average rating of “Buy” and a consensus price target of $45.14.

Shares of TELUS Corporation (NYSE:TU) traded up $0.62 during trading hours on Monday, hitting $37.58. The stock had a trading volume of 450,400 shares, compared to its average volume of 414,762. The firm has a market capitalization of $22,342.40, a P/E ratio of 18.88, a P/E/G ratio of 2.32 and a beta of 0.92. TELUS Corporation has a 12 month low of $31.23 and a 12 month high of $38.50. The company has a current ratio of 0.55, a quick ratio of 0.48 and a debt-to-equity ratio of 1.44.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be given a $0.505 dividend. This is an increase from TELUS’s previous quarterly dividend of $0.39. This represents a $2.02 annualized dividend and a dividend yield of 5.38%. The ex-dividend date of this dividend is Friday, December 8th. TELUS’s dividend payout ratio (DPR) is currently 97.53%.

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About TELUS

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.

Institutional Ownership by Quarter for TELUS (NYSE:TU)

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