CIBC Asset Management Inc increased its stake in TELUS Co. (NYSE:TU) (TSE:T) by 11.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,108,240 shares of the Wireless communications provider’s stock after purchasing an additional 1,377,720 shares during the quarter. TELUS makes up approximately 3.0% of CIBC Asset Management Inc’s investment portfolio, making the stock its 7th biggest position. CIBC Asset Management Inc’s holdings in TELUS were worth $485,148,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in TU. Van ECK Associates Corp bought a new stake in TELUS during the fourth quarter valued at about $25,000. Proficio Capital Partners LLC raised its holdings in TELUS by 199.7% during the fourth quarter. Proficio Capital Partners LLC now owns 959 shares of the Wireless communications provider’s stock valued at $32,000 after acquiring an additional 639 shares during the period. Financial Gravity Companies Inc. bought a new stake in TELUS during the fourth quarter valued at about $38,000. Oppenheimer Asset Management Inc. bought a new stake in TELUS during the fourth quarter valued at about $51,000. Finally, Enlightenment Research LLC bought a new stake in TELUS during the fourth quarter valued at about $60,000. 50.62% of the stock is currently owned by institutional investors.
TU has been the topic of a number of recent analyst reports. Canaccord Genuity reissued a “buy” rating on shares of TELUS in a report on Friday, February 15th. Barclays reissued a “buy” rating and set a $41.00 price target on shares of TELUS in a report on Sunday. Zacks Investment Research raised TELUS from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Royal Bank of Canada reissued a “buy” rating on shares of TELUS in a report on Tuesday, April 9th. Finally, Echelon Wealth Partners reissued a “buy” rating on shares of TELUS in a report on Friday, February 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $41.00.
TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings data on Thursday, May 9th. The Wireless communications provider reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.01. The firm had revenue of $3.51 billion during the quarter, compared to analyst estimates of $3.52 billion. TELUS had a return on equity of 17.02% and a net margin of 11.15%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. Analysts anticipate that TELUS Co. will post 2.2 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 2nd. Stockholders of record on Monday, June 10th will be given a dividend of $0.4191 per share. This is a positive change from TELUS’s previous quarterly dividend of $0.41. The ex-dividend date is Friday, June 7th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.59%. TELUS’s dividend payout ratio (DPR) is presently 77.10%.
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 cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.
Featured Story: Asset Allocation and Your Retirement
Want to see what other hedge funds are holding TU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for TELUS Co. (NYSE:TU) (TSE:T).
Receive News & Ratings for TELUS Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TELUS and related companies with MarketBeat.com's FREE daily email newsletter.