Bessemer Group Inc. Purchases 433,198 Shares of TELUS Corporation $TU

Bessemer Group Inc. increased its position in TELUS Corporation (NYSE:TU) (TSE:T) by 12.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 3,862,170 shares of the Wireless communications provider’s stock after acquiring an additional 433,198 shares during the quarter. Bessemer Group Inc.’s holdings in TELUS were worth $60,761,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TU. Parvin Asset Management LLC bought a new stake in TELUS during the 2nd quarter worth approximately $27,000. Farther Finance Advisors LLC lifted its holdings in shares of TELUS by 35.0% during the third quarter. Farther Finance Advisors LLC now owns 2,926 shares of the Wireless communications provider’s stock worth $46,000 after purchasing an additional 759 shares during the period. Blue Trust Inc. grew its stake in shares of TELUS by 26.1% in the second quarter. Blue Trust Inc. now owns 3,227 shares of the Wireless communications provider’s stock worth $52,000 after purchasing an additional 667 shares during the last quarter. CWM LLC increased its holdings in TELUS by 169.6% in the second quarter. CWM LLC now owns 3,658 shares of the Wireless communications provider’s stock valued at $59,000 after purchasing an additional 2,301 shares during the period. Finally, State of Wyoming bought a new position in TELUS during the 2nd quarter worth $61,000. 49.40% of the stock is currently owned by institutional investors and hedge funds.

TELUS Price Performance

TELUS stock opened at $14.28 on Friday. The stock has a market capitalization of $22.11 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 2.17 and a beta of 0.67. TELUS Corporation has a 52-week low of $12.54 and a 52-week high of $16.74. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.71 and a current ratio of 0.76. The stock’s 50 day moving average price is $13.30 and its two-hundred day moving average price is $14.74.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, November 7th. The Wireless communications provider reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.02). The company had revenue of $3.67 billion during the quarter, compared to the consensus estimate of $3.77 billion. TELUS had a net margin of 5.71% and a return on equity of 8.76%. The business’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.28 EPS. On average, equities analysts predict that TELUS Corporation will post 0.71 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Canaccord Genuity Group upgraded TELUS from a “hold” rating to a “buy” rating in a research report on Thursday, December 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of TELUS in a report on Monday, December 29th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $19.00 target price (down previously from $22.00) on shares of TELUS in a research report on Tuesday, November 18th. National Bankshares restated an “outperform” rating on shares of TELUS in a research report on Thursday, December 4th. Finally, National Bank Financial upgraded shares of TELUS from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, November 19th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $18.17.

About TELUS

TELUS Corporation (NYSE: TU) is a Canadian telecommunications and technology company headquartered in Vancouver, British Columbia. It delivers a broad portfolio of consumer and business communications services across Canada, including mobile wireless, fixed-line voice, broadband internet, and television. TELUS also provides a range of enterprise services such as cloud and IT solutions, managed network services, cybersecurity and Internet of Things (IoT) offerings for business customers.

Beyond core connectivity, TELUS has expanded into health and digital services.