TELUS Co. (NYSE:TU) Shares Acquired by Rempart Asset Management Inc.

Rempart Asset Management Inc. increased its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 29.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 375,898 shares of the Wireless communications provider’s stock after acquiring an additional 86,380 shares during the period. TELUS comprises 1.5% of Rempart Asset Management Inc.’s investment portfolio, making the stock its 25th biggest position. Rempart Asset Management Inc.’s holdings in TELUS were worth $7,320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of TELUS in the first quarter worth $32,000. Bessemer Group Inc. grew its stake in TELUS by 227.5% during the 1st quarter. Bessemer Group Inc. now owns 1,598 shares of the Wireless communications provider’s stock worth $32,000 after purchasing an additional 1,110 shares in the last quarter. CVA Family Office LLC acquired a new stake in TELUS in the 4th quarter valued at about $50,000. Clear Street Markets LLC acquired a new stake in TELUS in the 4th quarter valued at about $54,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of TELUS by 140.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,857 shares of the Wireless communications provider’s stock valued at $96,000 after buying an additional 2,837 shares during the period. 49.48% of the stock is currently owned by hedge funds and other institutional investors.

TELUS Stock Performance

Shares of TU traded down $0.07 during midday trading on Friday, reaching $17.22. 2,405,025 shares of the stock were exchanged, compared to its average volume of 1,305,184. The company has a market capitalization of $24.80 billion, a price-to-earnings ratio of 27.77, a PEG ratio of 2.65 and a beta of 0.73. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.57. TELUS Co. has a twelve month low of $16.67 and a twelve month high of $22.08. The business’s 50-day moving average price is $17.64 and its 200 day moving average price is $19.18.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $3.72 billion. TELUS had a net margin of 6.04% and a return on equity of 8.19%. On average, sell-side analysts expect that TELUS Co. will post 0.75 EPS for the current fiscal year.

TELUS Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be given a dividend of $0.274 per share. This is an increase from TELUS’s previous quarterly dividend of $0.27. This represents a $1.10 annualized dividend and a yield of 6.36%. The ex-dividend date of this dividend is Thursday, September 7th. TELUS’s dividend payout ratio (DPR) is presently 174.19%.

Analysts Set New Price Targets

A number of analysts recently weighed in on TU shares. Barclays cut their target price on shares of TELUS from $21.00 to $20.00 and set an “equal weight” rating on the stock in a research note on Monday, August 7th. TD Securities decreased their price objective on shares of TELUS from C$30.00 to C$29.00 in a research report on Tuesday, August 8th. JPMorgan Chase & Co. dropped their target price on TELUS from C$33.00 to C$31.00 in a report on Thursday, July 20th. Desjardins decreased their price target on TELUS from C$29.00 to C$27.50 in a report on Friday, July 14th. Finally, Royal Bank of Canada dropped their price objective on TELUS from C$32.00 to C$31.00 in a report on Monday, July 17th.

About TELUS

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.