CIBC Private Wealth Group LLC Grows Stake in TELUS Co. (NYSE:TU)

CIBC Private Wealth Group LLC increased its position in TELUS Co. (NYSE:TU) (TSE:T) by 1,532.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,410 shares of the Wireless communications provider’s stock after acquiring an additional 19,160 shares during the period. CIBC Private Wealth Group LLC’s holdings in TELUS were worth $284,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Maryland State Retirement & Pension System increased its position in shares of TELUS by 1.6% during the 4th quarter. Maryland State Retirement & Pension System now owns 88,180 shares of the Wireless communications provider’s stock valued at $1,197,000 after purchasing an additional 1,346 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in TELUS by 2.0% during the third quarter. Public Sector Pension Investment Board now owns 77,198 shares of the Wireless communications provider’s stock valued at $1,297,000 after buying an additional 1,500 shares during the last quarter. Hillsdale Investment Management Inc. increased its holdings in TELUS by 7.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 21,733 shares of the Wireless communications provider’s stock valued at $294,000 after buying an additional 1,500 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of TELUS by 195,100.0% during the 4th quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider’s stock worth $26,000 after acquiring an additional 1,951 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in TELUS by 3.4% during the fourth quarter. Crossmark Global Holdings Inc. now owns 87,419 shares of the Wireless communications provider’s stock valued at $1,185,000 after purchasing an additional 2,840 shares in the last quarter. Institutional investors own 49.40% of the company’s stock.

TELUS Trading Down 0.4 %

TELUS stock opened at $14.49 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.68 and a quick ratio of 0.61. The firm’s 50 day moving average price is $14.89 and its 200-day moving average price is $15.11. TELUS Co. has a 1 year low of $13.24 and a 1 year high of $17.27. The stock has a market cap of $21.94 billion, a P/E ratio of 29.57, a PEG ratio of 5.18 and a beta of 0.70.

TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The business had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same quarter in the previous year, the company earned $0.10 EPS. On average, equities analysts predict that TELUS Co. will post 0.71 earnings per share for the current fiscal year.

TELUS Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were paid a $0.2829 dividend. This represents a $1.13 dividend on an annualized basis and a yield of 7.81%. The ex-dividend date was Tuesday, March 11th. TELUS’s payout ratio is 226.53%.

Wall Street Analysts Forecast Growth

TU has been the topic of a number of analyst reports. Cormark cut TELUS from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Bank of America downgraded shares of TELUS from a “buy” rating to a “neutral” rating in a report on Friday, March 21st. National Bank Financial cut shares of TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 13th. StockNews.com raised shares of TELUS from a “sell” rating to a “hold” rating in a report on Monday, February 10th. Finally, Morgan Stanley started coverage on TELUS in a research note on Monday, December 16th. They issued an “equal weight” rating for the company. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold”.

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; 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.