Nuveen Asset Management LLC Increases Holdings in TELUS Co. (NYSE:TU)

Nuveen Asset Management LLC raised its stake in TELUS Co. (NYSE:TU) (TSE:T) by 0.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 451,576 shares of the Wireless communications provider’s stock after purchasing an additional 3,540 shares during the quarter. Nuveen Asset Management LLC’s holdings in TELUS were worth $6,120,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Letko Brosseau & Associates Inc. increased its stake in shares of TELUS by 2.5% in the fourth quarter. Letko Brosseau & Associates Inc. now owns 6,531,717 shares of the Wireless communications provider’s stock worth $88,516,000 after buying an additional 159,359 shares during the last quarter. Janus Henderson Group PLC boosted its position in TELUS by 9.2% during the 4th quarter. Janus Henderson Group PLC now owns 7,320,442 shares of the Wireless communications provider’s stock valued at $99,179,000 after purchasing an additional 618,623 shares during the period. JARISLOWSKY FRASER Ltd increased its holdings in shares of TELUS by 2.4% in the 4th quarter. JARISLOWSKY FRASER Ltd now owns 728,668 shares of the Wireless communications provider’s stock worth $9,875,000 after acquiring an additional 17,256 shares during the period. Gotham Asset Management LLC increased its stake in shares of TELUS by 117.3% in the fourth quarter. Gotham Asset Management LLC now owns 167,781 shares of the Wireless communications provider’s stock valued at $2,275,000 after purchasing an additional 90,580 shares during the period. Finally, Deutsche Bank AG raised its stake in TELUS by 7.5% during the 4th quarter. Deutsche Bank AG now owns 1,014,589 shares of the Wireless communications provider’s stock valued at $13,758,000 after acquiring an additional 71,118 shares in the last quarter. 49.40% of the stock is owned by hedge funds and other institutional investors.

TELUS Trading Up 1.1%

Shares of TU opened at $16.37 on Friday. TELUS Co. has a 12-month low of $13.24 and a 12-month high of $17.27. The firm has a market capitalization of $24.78 billion, a price-to-earnings ratio of 33.41, a P/E/G ratio of 5.18 and a beta of 0.73. The stock’s 50-day moving average price is $15.09 and its 200 day moving average price is $14.86. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.52.

TELUS Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 2nd. Stockholders of record on Tuesday, June 10th will be paid a $0.2989 dividend. This is a positive change from TELUS’s previous quarterly dividend of $0.28. This represents a $1.20 annualized dividend and a dividend yield of 7.30%. The ex-dividend date of this dividend is Tuesday, June 10th. TELUS’s dividend payout ratio is currently 201.75%.

Wall Street Analyst Weigh In

TU has been the topic of a number of research analyst reports. Canaccord Genuity Group raised their price objective on shares of TELUS from $20.25 to $21.50 and gave the company a “hold” rating in a research note on Monday, May 12th. National Bankshares restated a “sector perform” rating on shares of TELUS in a research report on Monday, May 12th. Bank of America lowered TELUS from a “buy” rating to a “neutral” rating in a research report on Friday, March 21st. Wall Street Zen raised shares of TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Finally, Cormark cut shares of TELUS from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Eight research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $21.50.

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.