Cardinal Capital Management Inc. Has $4.88 Million Stake in TELUS Co. (NYSE:TU)

Cardinal Capital Management Inc. raised its stake in TELUS Co. (NYSE:TU) (TSE:T) by 3.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250,554 shares of the Wireless communications provider’s stock after buying an additional 7,912 shares during the quarter. Cardinal Capital Management Inc.’s holdings in TELUS were worth $4,879,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of TU. Stratos Wealth Advisors LLC lifted its position in TELUS by 0.8% in the 1st quarter. Stratos Wealth Advisors LLC now owns 82,722 shares of the Wireless communications provider’s stock valued at $1,643,000 after acquiring an additional 624 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of TELUS by 6.8% during the first quarter. Cetera Investment Advisers now owns 10,837 shares of the Wireless communications provider’s stock worth $215,000 after buying an additional 692 shares in the last quarter. Captrust Financial Advisors raised its position in TELUS by 18.1% in the 2nd quarter. Captrust Financial Advisors now owns 4,669 shares of the Wireless communications provider’s stock valued at $104,000 after buying an additional 717 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of TELUS by 4.0% in the third quarter. Dimensional Fund Advisors LP now owns 22,341 shares of the Wireless communications provider’s stock worth $444,000 after purchasing an additional 861 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in shares of TELUS by 1.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 51,957 shares of the Wireless communications provider’s stock worth $1,032,000 after buying an additional 991 shares during the last quarter. Institutional investors and hedge funds own 49.48% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. TD Securities dropped their target price on TELUS from C$30.00 to C$29.00 in a report on Tuesday, August 8th. Desjardins decreased their target price on shares of TELUS from C$29.00 to C$27.50 in a research note on Friday, July 14th. StockNews.com started coverage on shares of TELUS in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Barclays decreased their price objective on shares of TELUS from $21.00 to $20.00 and set an “equal weight” rating for the company in a research report on Monday, August 7th. Finally, BMO Capital Markets dropped their target price on shares of TELUS from C$29.00 to C$27.00 in a report on Monday, August 7th.

TELUS Stock Performance

TU traded down $0.07 on Friday, reaching $17.22. The company had a trading volume of 2,405,025 shares, compared to its average volume of 1,305,184. The stock has a market cap of $24.80 billion, a P/E ratio of 27.77, a P/E/G ratio of 2.65 and a beta of 0.73. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.57 and a current ratio of 0.63. TELUS Co. has a fifty-two week low of $16.67 and a fifty-two week high of $22.08. The company’s fifty day moving average is $17.69 and its 200 day moving average is $19.20.

TELUS (NYSE:TU) (TSE:T) last announced its earnings results on Friday, August 4th. The Wireless communications provider reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.04). The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.72 billion. TELUS had a return on equity of 8.19% and a net margin of 6.04%. As a group, analysts predict that TELUS Co. will post 0.75 earnings per share for the current fiscal year.

TELUS Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Friday, September 8th will be paid a $0.274 dividend. This is a boost from TELUS’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a dividend yield of 6.36%. The ex-dividend date of this dividend is Thursday, September 7th. TELUS’s payout ratio is 174.19%.

TELUS Company 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; 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.