TELUS Co. (NYSE:TU) Shares Bought by Tobam

Tobam grew its position in TELUS Co. (NYSE:TU) (TSE:T) by 38.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,001 shares of the Wireless communications provider’s stock after buying an additional 22,486 shares during the quarter. Tobam’s holdings in TELUS were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of TU. Leo Wealth LLC purchased a new stake in TELUS during the 4th quarter worth approximately $279,000. Groesbeck Investment Management Corp NJ acquired a new position in shares of TELUS in the fourth quarter worth $331,000. First Affirmative Financial Network increased its position in shares of TELUS by 14.1% during the fourth quarter. First Affirmative Financial Network now owns 37,826 shares of the Wireless communications provider’s stock worth $513,000 after acquiring an additional 4,682 shares during the period. Forsta AP Fonden raised its stake in shares of TELUS by 2.4% in the fourth quarter. Forsta AP Fonden now owns 360,300 shares of the Wireless communications provider’s stock valued at $4,886,000 after acquiring an additional 8,600 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. boosted its holdings in TELUS by 27.4% in the fourth quarter. Montrusco Bolton Investments Inc. now owns 1,091,751 shares of the Wireless communications provider’s stock valued at $14,795,000 after purchasing an additional 234,652 shares during the period. Hedge funds and other institutional investors own 49.40% of the company’s stock.

Analyst Ratings Changes

TU has been the topic of several recent research reports. National Bank Financial downgraded TELUS from an “outperform” rating to a “sector perform” rating in a report on Friday, December 13th. StockNews.com cut shares of TELUS from a “hold” rating to a “sell” rating in a report on Thursday, November 21st. Scotiabank upgraded shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a report on Monday, October 28th. Finally, Morgan Stanley assumed coverage on shares of TELUS in a research report on Monday, December 16th. They issued an “equal weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.00.

TELUS Price Performance

Shares of NYSE TU opened at $14.60 on Friday. The stock’s 50-day simple moving average is $14.34 and its 200-day simple moving average is $15.50. The firm has a market capitalization of $21.89 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 4.81 and a beta of 0.75. TELUS Co. has a fifty-two week low of $13.24 and a fifty-two week high of $18.16. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.63 and a current ratio of 0.69.

TELUS (NYSE:TU) (TSE:T) last released its quarterly earnings data on Friday, November 8th. The Wireless communications provider reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The company had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the company earned $0.19 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities research analysts forecast that TELUS Co. will post 0.72 EPS for the current fiscal year.

TELUS Company Profile

TELUS Corporation, together with its subsidiaries, provides a range of telecommunications and information technology products and services in Canada. It operates through Technology Solutions and Digitally-Led Customer Experiences segments. The Technology Solutions segment offers a range of telecommunications products and services; network services; healthcare services; mobile technologies equipment; data services, such as internet protocol; television; hosting, managed information technology, and cloud-based services; software, data management, and data analytics-driven smart food-chain and consumer goods technologies; home and business security; healthcare software and technology solutions; and voice and other telecommunications services, as well as mobile and fixed voice and data telecommunications services and products.