Signaturefd LLC Buys Shares of 8,869 TELUS Corporation (TU)

Signaturefd LLC acquired a new position in TELUS Corporation (NYSE:TU) (TSE:T) during the first quarter, Holdings Channel reports. The firm acquired 8,869 shares of the Wireless communications provider’s stock, valued at approximately $288,000.

A number of other hedge funds have also added to or reduced their stakes in TU. Bank of Montreal Can raised its stake in TELUS Corporation by 14.6% in the first quarter. Bank of Montreal Can now owns 20,367,826 shares of the Wireless communications provider’s stock worth $661,547,000 after buying an additional 2,588,423 shares during the period. Beutel Goodman & Co Ltd. raised its stake in TELUS Corporation by 1.3% in the first quarter. Beutel Goodman & Co Ltd. now owns 11,656,577 shares of the Wireless communications provider’s stock worth $377,757,000 after buying an additional 151,750 shares during the period. Great West Life Assurance Co. Can raised its stake in TELUS Corporation by 8.2% in the first quarter. Great West Life Assurance Co. Can now owns 6,680,083 shares of the Wireless communications provider’s stock worth $216,755,000 after buying an additional 506,861 shares during the period. Vanguard Group Inc. raised its stake in TELUS Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 4,680,743 shares of the Wireless communications provider’s stock worth $152,031,000 after buying an additional 182,298 shares during the period. Finally, Renaissance Technologies LLC raised its stake in TELUS Corporation by 22.9% in the first quarter. Renaissance Technologies LLC now owns 4,216,748 shares of the Wireless communications provider’s stock worth $136,967,000 after buying an additional 786,148 shares during the period. 52.82% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for TELUS Corporation (NYSE:TU)

TELUS Corporation (TU) traded up 1.50% during mid-day trading on Friday, hitting $34.42. 758,507 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $33.60 and its 200-day moving average price is $32.85. The stock has a market cap of $20.34 billion, a PE ratio of 21.58 and a beta of 0.90. TELUS Corporation has a one year low of $30.31 and a one year high of $34.64.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 4th. Shareholders of record on Friday, June 9th will be paid a $0.4925 dividend. The ex-dividend date of this dividend is Wednesday, June 7th. This represents a $1.97 dividend on an annualized basis and a yield of 5.72%. This is a boost from TELUS Corporation’s previous quarterly dividend of $0.37. TELUS Corporation’s payout ratio is currently 89.02%.

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TU has been the subject of several analyst reports. Zacks Investment Research lowered shares of TELUS Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, May 4th. Barclays PLC reissued an “overweight” rating and set a $38.00 price target (up from $36.00) on shares of TELUS Corporation in a research report on Thursday, February 16th. Canaccord Genuity reissued a “buy” rating and set a $47.00 price target on shares of TELUS Corporation in a research report on Monday, May 8th. Finally, CIBC raised shares of TELUS Corporation from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 5th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $42.50.

TELUS Corporation Company Profile

TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.

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