Sound View Wealth Advisors LLC Invests $208,000 in TELUS Co. (TU) Stock

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Sound View Wealth Advisors LLC acquired a new stake in TELUS Co. (NYSE:TU) (TSE:T) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 5,622 shares of the Wireless communications provider’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TU. Bank of New York Mellon Corp boosted its holdings in shares of TELUS by 39.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 370,648 shares of the Wireless communications provider’s stock valued at $13,655,000 after buying an additional 105,458 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of TELUS by 476.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 249,376 shares of the Wireless communications provider’s stock valued at $9,187,000 after buying an additional 206,136 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of TELUS by 78.7% during the 3rd quarter. Legal & General Group Plc now owns 97,977 shares of the Wireless communications provider’s stock valued at $3,608,000 after buying an additional 43,163 shares in the last quarter. CWM LLC boosted its holdings in shares of TELUS by 409.8% during the 4th quarter. CWM LLC now owns 35,047 shares of the Wireless communications provider’s stock valued at $1,161,000 after buying an additional 28,173 shares in the last quarter. Finally, Albion Financial Group UT bought a new stake in shares of TELUS during the 4th quarter valued at $215,000. 51.61% of the stock is owned by hedge funds and other institutional investors.

Shares of TU traded down $0.04 during trading hours on Monday, hitting $37.43. The company had a trading volume of 270,841 shares, compared to its average volume of 345,792. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.77 and a quick ratio of 0.70. The firm has a market cap of $22.41 billion, a PE ratio of 17.49, a P/E/G ratio of 2.13 and a beta of 0.83. TELUS Co. has a 52-week low of $32.46 and a 52-week high of $37.84.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Thursday, May 9th. The Wireless communications provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.52 billion. TELUS had a return on equity of 16.98% and a net margin of 11.15%. TELUS’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.69 EPS. As a group, sell-side analysts anticipate that TELUS Co. will post 2.2 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be given a $0.4191 dividend. This represents a $1.68 annualized dividend and a dividend yield of 4.48%. The ex-dividend date of this dividend is Friday, June 7th. This is a positive change from TELUS’s previous quarterly dividend of $0.41. TELUS’s payout ratio is currently 77.10%.

TU has been the topic of a number of research reports. Canaccord Genuity restated a “buy” rating on shares of TELUS in a report on Friday, February 15th. Barclays reaffirmed a “buy” rating and issued a $41.00 price target on shares of TELUS in a research report on Sunday, May 12th. Zacks Investment Research raised TELUS from a “sell” rating to a “hold” rating in a research report on Tuesday, February 12th. Royal Bank of Canada reaffirmed a “buy” rating on shares of TELUS in a research report on Tuesday, April 9th. Finally, Echelon Wealth Partners reaffirmed a “buy” rating on shares of TELUS in a research report on Friday, February 15th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $41.00.

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TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.

Further Reading: Liquidity

Want to see what other hedge funds are holding TU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TELUS Co. (NYSE:TU) (TSE:T).

Institutional Ownership by Quarter for TELUS (NYSE:TU)

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