Virginia Retirement Systems ET AL Acquires 107,400 Shares of TELUS Co. (TU)

Virginia Retirement Systems ET AL grew its holdings in TELUS Co. (NYSE:TU) (TSE:T) by 31.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 446,700 shares of the Wireless communications provider’s stock after buying an additional 107,400 shares during the period. Virginia Retirement Systems ET AL owned approximately 0.07% of TELUS worth $14,800,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of TU. Financial Gravity Companies Inc. bought a new stake in shares of TELUS in the 4th quarter worth about $38,000. Oppenheimer Asset Management Inc. bought a new stake in shares of TELUS in the 4th quarter worth about $51,000. Enlightenment Research LLC bought a new stake in shares of TELUS in the 4th quarter worth about $60,000. Glassman Wealth Services bought a new stake in shares of TELUS in the 3rd quarter worth about $110,000. Finally, Riverhead Capital Management LLC lifted its holdings in shares of TELUS by 95.7% in the 3rd quarter. Riverhead Capital Management LLC now owns 4,500 shares of the Wireless communications provider’s stock worth $164,000 after acquiring an additional 2,200 shares during the last quarter. 51.25% of the stock is owned by institutional investors and hedge funds.

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Shares of NYSE:TU traded down $0.16 during trading hours on Wednesday, hitting $35.57. The company’s stock had a trading volume of 30,173 shares, compared to its average volume of 385,285. TELUS Co. has a 52 week low of $32.46 and a 52 week high of $37.70. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.72 and a current ratio of 0.79. The firm has a market cap of $21.36 billion, a P/E ratio of 16.67, a P/E/G ratio of 1.98 and a beta of 0.83.

TELUS (NYSE:TU) (TSE:T) last posted its quarterly earnings results on Thursday, February 14th. The Wireless communications provider reported $0.53 EPS for the quarter, meeting the consensus estimate of $0.53. TELUS had a net margin of 11.14% and a return on equity of 17.32%. The business had revenue of $3.76 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the business posted $0.55 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts predict that TELUS Co. will post 2.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be issued a $0.4098 dividend. The ex-dividend date of this dividend is Friday, March 8th. This represents a $1.64 annualized dividend and a dividend yield of 4.61%. TELUS’s dividend payout ratio is currently 76.64%.

TU has been the subject of a number of research analyst reports. Barclays reiterated a “buy” rating and set a $40.00 price objective on shares of TELUS in a report on Sunday, November 11th. TD Securities reiterated a “buy” rating on shares of TELUS in a report on Friday, November 9th. Canaccord Genuity reiterated a “buy” rating on shares of TELUS in a report on Friday, February 15th. Echelon Wealth Partners reiterated a “buy” rating on shares of TELUS in a report on Friday, February 15th. Finally, Zacks Investment Research upgraded shares of TELUS from a “sell” rating to a “hold” rating in a report on Tuesday, February 12th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $47.67.

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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 security and cloud-based services; healthcare solutions; business process outsourcing; and security solutions.

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