Northern Trust Corp raised its position in TELUS Co. (NYSE:TU) (TSE:T) by 99.5% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 523,981 shares of the Wireless communications provider’s stock after buying an additional 261,283 shares during the period. Northern Trust Corp owned 0.09% of TELUS worth $18,608,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its position in shares of TELUS by 8.9% during the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 2,895,400 shares of the Wireless communications provider’s stock worth $135,215,000 after purchasing an additional 237,200 shares in the last quarter. Bank of Nova Scotia lifted its position in shares of TELUS by 6.1% during the second quarter. Bank of Nova Scotia now owns 4,391,318 shares of the Wireless communications provider’s stock worth $156,512,000 after purchasing an additional 251,243 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new position in shares of TELUS during the second quarter worth approximately $1,688,000. PCJ Investment Counsel Ltd. lifted its position in shares of TELUS by 0.9% during the second quarter. PCJ Investment Counsel Ltd. now owns 1,000,904 shares of the Wireless communications provider’s stock worth $35,533,000 after purchasing an additional 8,510 shares in the last quarter. Finally, Voya Investment Management LLC lifted its position in shares of TELUS by 1,793.0% during the second quarter. Voya Investment Management LLC now owns 120,716 shares of the Wireless communications provider’s stock worth $4,286,000 after purchasing an additional 114,339 shares in the last quarter. Hedge funds and other institutional investors own 50.58% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. Desjardins reiterated a “buy” rating on shares of TELUS in a research report on Sunday, October 21st. Scotiabank lowered shares of TELUS from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $46.80.
TELUS (NYSE:TU) (TSE:T) last announced its quarterly earnings data on Friday, August 3rd. The Wireless communications provider reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.01. TELUS had a net margin of 10.61% and a return on equity of 17.45%. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the business posted $0.70 earnings per share. TELUS’s revenue was up 5.3% compared to the same quarter last year. Research analysts predict that TELUS Co. will post 2.15 EPS for the current year.
TELUS Company Profile
TELUS Corporation, together with its subsidiaries, provides a range of telecommunications products and services in Canada. It operates through Wireless and Wireline segments. The company's telecommunications products and services comprise wireless and wireline voice and data services; data services, including Internet protocol; television services; hosting, managed information technology, and security and cloud-based services; healthcare solutions; business process outsourcing; and security solutions.
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