Bayesian Capital Management LP Increases Holdings in TELUS Co. (NYSE:TU)

Bayesian Capital Management LP boosted its holdings in shares of TELUS Co. (NYSE:TU) (TSE:T) by 90.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 75,300 shares of the Wireless communications provider’s stock after buying an additional 35,700 shares during the period. Bayesian Capital Management LP’s holdings in TELUS were worth $1,206,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Ontario Teachers Pension Plan Board bought a new stake in TELUS during the fourth quarter valued at $1,100,000. Canada Pension Plan Investment Board lifted its stake in TELUS by 11.2% during the first quarter. Canada Pension Plan Investment Board now owns 1,252,092 shares of the Wireless communications provider’s stock worth $20,050,000 after purchasing an additional 126,488 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of TELUS by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 22,834,015 shares of the Wireless communications provider’s stock worth $406,217,000 after buying an additional 1,044,988 shares during the period. Van ECK Associates Corp purchased a new position in shares of TELUS in the first quarter worth about $1,991,000. Finally, Virtu Financial LLC purchased a new position in shares of TELUS in the fourth quarter worth about $376,000. Institutional investors own 49.40% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded TELUS from a “hold” rating to a “sell” rating in a report on Friday, June 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $26.20.

TELUS Stock Up 0.8 %

Shares of NYSE:TU opened at $16.11 on Wednesday. TELUS Co. has a 1 year low of $14.63 and a 1 year high of $19.14. The company has a market cap of $23.88 billion, a PE ratio of 40.98, a P/E/G ratio of 2.40 and a beta of 0.73. The company has a debt-to-equity ratio of 1.42, a current ratio of 0.75 and a quick ratio of 0.70. The stock’s 50-day moving average is $15.81 and its 200 day moving average is $16.52.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, May 9th. The Wireless communications provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. TELUS had a return on equity of 7.90% and a net margin of 3.73%. The firm had revenue of $3.66 billion for the quarter, compared to the consensus estimate of $3.73 billion. Sell-side analysts anticipate that TELUS Co. will post 0.75 EPS for the current year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th were paid a $0.282 dividend. The ex-dividend date was Monday, June 10th. This represents a $1.13 annualized dividend and a dividend yield of 7.00%. This is a boost from TELUS’s previous quarterly dividend of $0.28. TELUS’s payout ratio is currently 292.32%.

TELUS Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.