Groesbeck Investment Management Corp NJ Makes New Investment in TELUS Co. (NYSE:TU)

Groesbeck Investment Management Corp NJ bought a new position in shares of TELUS Co. (NYSE:TU) (TSE:T) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 24,420 shares of the Wireless communications provider’s stock, valued at approximately $331,000.

Several other hedge funds also recently bought and sold shares of TU. First Affirmative Financial Network boosted its stake in shares of TELUS by 14.1% in the fourth quarter. First Affirmative Financial Network now owns 37,826 shares of the Wireless communications provider’s stock valued at $513,000 after purchasing an additional 4,682 shares during the period. Forsta AP Fonden boosted its stake in shares of TELUS by 2.4% in the fourth quarter. Forsta AP Fonden now owns 360,300 shares of the Wireless communications provider’s stock valued at $4,886,000 after purchasing an additional 8,600 shares during the period. Montrusco Bolton Investments Inc. boosted its stake in shares of TELUS by 27.4% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 1,091,751 shares of the Wireless communications provider’s stock valued at $14,795,000 after purchasing an additional 234,652 shares during the period. AEGON ASSET MANAGEMENT UK Plc boosted its stake in shares of TELUS by 6.9% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 1,017,200 shares of the Wireless communications provider’s stock valued at $13,785,000 after purchasing an additional 65,940 shares during the period. Finally, Cardinal Capital Management Inc. boosted its stake in shares of TELUS by 7.6% in the fourth quarter. Cardinal Capital Management Inc. now owns 375,091 shares of the Wireless communications provider’s stock valued at $5,074,000 after purchasing an additional 26,655 shares during the period. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TU shares. Morgan Stanley started coverage on shares of TELUS in a report on Monday, December 16th. They issued an “equal weight” rating on the stock. StockNews.com cut shares of TELUS from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Scotiabank raised shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. Finally, National Bank Financial cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, December 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.00.

TELUS Stock Up 1.2 %

TU stock opened at $14.70 on Wednesday. The company has a current ratio of 0.69, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. TELUS Co. has a twelve month low of $13.24 and a twelve month high of $18.16. The company’s 50 day moving average is $14.36 and its two-hundred day moving average is $15.51. The stock has a market cap of $22.05 billion, a P/E ratio of 31.28, a PEG ratio of 4.81 and a beta of 0.75.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the company earned $0.19 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts expect that TELUS Co. will post 0.72 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were issued a $0.297 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 8.08%. This is a boost from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, December 11th. TELUS’s payout ratio is presently 242.56%.

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.