State of Wisconsin Investment Board trimmed its position in TELUS Co. (NYSE:TU) (TSE:T) by 14.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 387,733 shares of the Wireless communications provider’s stock after selling 64,100 shares during the period. State of Wisconsin Investment Board’s holdings in TELUS were worth $14,355,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in shares of TELUS by 476.7% during the third quarter. JPMorgan Chase & Co. now owns 249,376 shares of the Wireless communications provider’s stock worth $9,187,000 after acquiring an additional 206,136 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of TELUS during the fourth quarter worth approximately $51,000. BB&T Securities LLC grew its position in shares of TELUS by 2.9% during the fourth quarter. BB&T Securities LLC now owns 26,863 shares of the Wireless communications provider’s stock worth $890,000 after acquiring an additional 760 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of TELUS during the fourth quarter worth approximately $38,000. Finally, Stevens Capital Management LP purchased a new position in shares of TELUS during the fourth quarter worth approximately $1,306,000. Institutional investors own 51.34% of the company’s stock.
Shares of NYSE TU opened at $37.61 on Thursday. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.77 and a quick ratio of 0.70. TELUS Co. has a 1-year low of $32.46 and a 1-year high of $38.29. The firm has a market cap of $22.53 billion, a P/E ratio of 17.57, a P/E/G ratio of 2.14 and a beta of 0.76.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Monday, June 10th will be issued a dividend of $0.4191 per share. The ex-dividend date is Friday, June 7th. This is an increase from TELUS’s previous quarterly dividend of $0.41. This represents a $1.68 annualized dividend and a dividend yield of 4.46%. TELUS’s dividend payout ratio (DPR) is currently 78.04%.
TU has been the topic of a number of research reports. Echelon Wealth Partners restated a “buy” rating on shares of TELUS in a research report on Friday, February 15th. Canaccord Genuity reaffirmed a “buy” rating on shares of TELUS in a report on Friday, February 15th. TheStreet raised TELUS from a “c+” rating to a “b-” rating in a report on Thursday, April 4th. Royal Bank of Canada reaffirmed a “buy” rating on shares of TELUS in a report on Tuesday, April 9th. Finally, Zacks Investment Research downgraded TELUS from a “hold” rating to a “sell” rating in a report on Wednesday, April 17th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $41.00.
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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.
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