Voloridge Investment Management LLC Boosts Stake in TELUS Co. (NYSE:TU)

Voloridge Investment Management LLC boosted its stake in TELUS Co. (NYSE:TU) (TSE:T) by 75.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 105,959 shares of the Wireless communications provider’s stock after purchasing an additional 45,694 shares during the period. Voloridge Investment Management LLC’s holdings in TELUS were worth $3,774,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TU. Executive Wealth Management LLC acquired a new stake in shares of TELUS during the third quarter worth about $28,000. Kempen Capital Management N.V. acquired a new position in shares of TELUS in the second quarter valued at approximately $45,000. Quadrant Capital Group LLC purchased a new stake in TELUS during the 3rd quarter worth approximately $45,000. Aperio Group LLC purchased a new stake in TELUS during the 2nd quarter worth approximately $116,000. Finally, Neuburgh Advisers LLC lifted its holdings in TELUS by 13.2% during the 2nd quarter. Neuburgh Advisers LLC now owns 3,152 shares of the Wireless communications provider’s stock worth $112,000 after buying an additional 368 shares in the last quarter. 49.52% of the stock is currently owned by institutional investors.

Shares of TELUS stock opened at $37.61 on Tuesday. TELUS Co. has a one year low of $32.46 and a one year high of $38.32. The company has a market cap of $22.80 billion, a PE ratio of 17.57, a P/E/G ratio of 2.69 and a beta of 0.67. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.73 and a current ratio of 0.80. The business has a 50-day simple moving average of $36.73 and a 200-day simple moving average of $36.60.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Thursday, November 7th. The Wireless communications provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.01. TELUS had a net margin of 11.91% and a return on equity of 16.54%. The firm had revenue of $3.70 billion for the quarter, compared to analysts’ expectations of $3.77 billion. During the same quarter last year, the company earned $0.74 earnings per share. The firm’s revenue was down 2.0% compared to the same quarter last year. On average, sell-side analysts predict that TELUS Co. will post 2.19 earnings per share for the current fiscal year.

Several equities analysts have commented on TU shares. Bank of America raised shares of TELUS from a “neutral” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Monday, September 30th. Scotiabank raised TELUS from a “sector perform” rating to an “outperform” rating in a research report on Friday, November 8th. Finally, Echelon Wealth Partners reiterated a “buy” rating and issued a $56.00 price objective on shares of TELUS in a research note on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $49.67.

TELUS 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 cloud-based services; healthcare solutions; customer care and business services; and home and business security solutions.

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Institutional Ownership by Quarter for TELUS (NYSE:TU)

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