K.J. Harrison & Partners Inc purchased a new position in shares of Telus Corp. (NYSE:TU) during the second quarter, Holdings Channel reports. The institutional investor purchased 30,500 shares of the company’s stock, valued at approximately $975,000.
Several other institutional investors also recently made changes to their positions in TU. NewSquare Capital LLC bought a new position in shares of Telus Corp. during the second quarter worth about $615,000. Callahan Advisors LLC increased its position in shares of Telus Corp. by 3.5% in the second quarter. Callahan Advisors LLC now owns 18,175 shares of the company’s stock worth $585,000 after buying an additional 610 shares in the last quarter. Bank of Montreal Can bought a new position in shares of Telus Corp. during the second quarter worth about $608,248,000. Shell Asset Management Co. increased its position in shares of Telus Corp. by 10.1% in the second quarter. Shell Asset Management Co. now owns 496,076 shares of the company’s stock worth $20,637,000 after buying an additional 45,700 shares in the last quarter. Finally, Highstreet Asset Management Inc. increased its position in shares of Telus Corp. by 0.3% in the second quarter. Highstreet Asset Management Inc. now owns 281,239 shares of the company’s stock worth $9,053,000 after buying an additional 808 shares in the last quarter. Institutional investors and hedge funds own 52.94% of the company’s stock.
Telus Corp. (NYSE:TU) traded up 1.01% during midday trading on Thursday, hitting $32.93. 229,509 shares of the company’s stock traded hands. The company has a market capitalization of $19.49 billion, a PE ratio of 18.20 and a beta of 0.95. The company has a 50 day moving average of $33.04 and a 200-day moving average of $32.21. Telus Corp. has a 52 week low of $24.34 and a 52 week high of $34.12.
Telus Corp. (NYSE:TU) last announced its quarterly earnings results on Friday, August 5th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Telus Corp. had a net margin of 11.26% and a return on equity of 19.92%. The company earned $3.15 billion during the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter in the previous year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Equities research analysts predict that Telus Corp. will post $2.01 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 9th will be paid a dividend of $0.3505 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 4.26%. The ex-dividend date is Wednesday, September 7th. Telus Corp.’s dividend payout ratio is currently 78.33%.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Telus Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, September 6th. Desjardins upgraded shares of Telus Corp. from a “hold” rating to a “buy” rating in a report on Thursday, August 11th. TheStreet upgraded shares of Telus Corp. from a “hold” rating to a “buy” rating in a report on Friday, August 5th. Barclays PLC increased their price target on shares of Telus Corp. from $36.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, August 8th. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Telus Corp. in a report on Friday, August 5th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $40.67.
About Telus Corp.
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, television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.
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