AlphaCrest Capital Management LLC Has $562,000 Stake in TELUS Co. (NYSE:TU)

AlphaCrest Capital Management LLC trimmed its stake in TELUS Co. (NYSE:TU – Get Rating) (TSE:T) by 82.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,315 shares of the Wireless communications provider’s stock after selling 129,495 shares during the period. AlphaCrest Capital Management LLC’s holdings in TELUS were worth $562,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Mackenzie Financial Corp grew its position in TELUS by 19.3% in the third quarter. Mackenzie Financial Corp now owns 55,063,043 shares of the Wireless communications provider’s stock valued at $1,092,183,000 after acquiring an additional 8,888,682 shares during the period. The Manufacturers Life Insurance Company grew its position in TELUS by 20.6% in the third quarter. The Manufacturers Life Insurance Company now owns 36,303,097 shares of the Wireless communications provider’s stock valued at $727,902,000 after acquiring an additional 6,202,073 shares during the period. Bank of Nova Scotia grew its position in TELUS by 2.4% in the second quarter. Bank of Nova Scotia now owns 20,963,491 shares of the Wireless communications provider’s stock valued at $466,903,000 after acquiring an additional 491,101 shares during the period. Vanguard Group Inc. grew its holdings in shares of TELUS by 4.3% during the first quarter. Vanguard Group Inc. now owns 18,185,901 shares of the Wireless communications provider’s stock worth $475,379,000 after purchasing an additional 755,921 shares during the last quarter. Finally, Toronto Dominion Bank grew its holdings in shares of TELUS by 15.1% during the third quarter. Toronto Dominion Bank now owns 15,852,364 shares of the Wireless communications provider’s stock worth $356,395,000 after purchasing an additional 2,080,931 shares during the last quarter. 51.42% of the stock is currently owned by institutional investors.

TELUS Price Performance

TELUS stock opened at $19.27 on Friday. The business’s 50-day simple moving average is $20.50 and its 200 day simple moving average is $20.88. The stock has a market cap of $27.57 billion, a price-to-earnings ratio of 21.41, a P/E/G ratio of 1.91 and a beta of 0.74. TELUS Co. has a 12-month low of $18.85 and a 12-month high of $27.50. The company has a quick ratio of 0.67, a current ratio of 0.74 and a debt-to-equity ratio of 1.27.

TELUS Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Friday, March 10th will be paid a $0.264 dividend. This is a positive change from TELUS’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Thursday, March 9th. This represents a $1.06 annualized dividend and a yield of 5.48%. TELUS’s dividend payout ratio is presently 116.67%.

Analysts Set New Price Targets

TU has been the topic of several research analyst reports. National Bank Financial decreased their target price on TELUS from C$31.00 to C$30.00 in a report on Friday, February 10th. JPMorgan Chase & Co. decreased their target price on TELUS from C$36.00 to C$33.00 in a report on Monday, February 13th. CIBC upgraded TELUS from a “neutral” rating to an “outperform” rating in a report on Thursday, January 12th. TD Securities decreased their target price on TELUS from C$32.00 to C$31.00 in a report on Friday, February 10th. Finally, Desjardins decreased their target price on TELUS from C$33.00 to C$32.00 in a report on Friday, February 10th.

About TELUS

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TELUS Corp. is a telecommunications company, which engages in the provision of telecommunication services and products primarily for wireless and wireline voice and data. It operates through the following segments: TELUS Technology Solutions (TTech) and Digitally-led Customer ExperiencesTELUS International (DLCX).