Comerica Bank Buys 3,369 Shares of TELUS Co. (TU)

Comerica Bank boosted its position in shares of TELUS Co. (NYSE:TU) (TSE:T) by 11.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 33,594 shares of the Wireless communications provider’s stock after buying an additional 3,369 shares during the period. Comerica Bank’s holdings in TELUS were worth $1,130,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the stock. The Manufacturers Life Insurance Company bought a new stake in shares of TELUS during the third quarter valued at $314,872,000. CGOV Asset Management bought a new stake in shares of TELUS during the third quarter valued at $74,975,000. Swiss National Bank boosted its stake in shares of TELUS by 1,227.6% in the third quarter. Swiss National Bank now owns 1,119,200 shares of the Wireless communications provider’s stock valued at $35,846,000 after buying an additional 1,034,900 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in shares of TELUS during the fourth quarter valued at $27,936,000. Finally, 1832 Asset Management L.P. boosted its stake in shares of TELUS by 4.4% in the third quarter. 1832 Asset Management L.P. now owns 10,899,841 shares of the Wireless communications provider’s stock valued at $359,771,000 after buying an additional 456,808 shares in the last quarter. Institutional investors and hedge funds own 54.15% of the company’s stock.

Institutional Ownership by Quarter for TELUS (NYSE:TU)

Shares of TELUS Co. (NYSE:TU) traded up 0.27% during mid-day trading on Friday, reaching $32.88. The company’s stock had a trading volume of 243,152 shares. The company’s 50-day moving average price is $32.42 and its 200-day moving average price is $32.39. The stock has a market capitalization of $19.40 billion, a P/E ratio of 21.42 and a beta of 0.89. TELUS Co. has a 12-month low of $30.31 and a 12-month high of $34.12.

TELUS (NYSE:TU) last posted its earnings results on Thursday, February 9th. The Wireless communications provider reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.04. TELUS had a return on equity of 19.03% and a net margin of 9.58%. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.22 billion. During the same period last year, the business earned $0.34 EPS. TELUS’s revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts forecast that TELUS Co. will post $2.02 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, April 3rd. Stockholders of record on Friday, March 10th were given a dividend of $0.3668 per share. The ex-dividend date was Wednesday, March 8th. This represents a $1.47 annualized dividend and a dividend yield of 4.47%. TELUS’s dividend payout ratio is currently 91.67%.

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Several equities research analysts have recently weighed in on TU shares. Canaccord Genuity upgraded TELUS from a “hold” rating to a “buy” rating in a research report on Thursday, January 5th. Zacks Investment Research cut TELUS from a “buy” rating to a “sell” rating in a research report on Monday, January 9th. National Bank Financial upgraded shares of TELUS from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, February 7th. Barclays PLC upped their price objective on shares of TELUS to $38.00 and gave the stock a “buy” rating in a research report on Friday, February 10th. Finally, CIBC upgraded shares of TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 5th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $42.50.

About TELUS

TELUS Corporation (TELUS) is a telecommunications company. The Company provides a range of telecommunications services and products, including wireless and wireline voice and data. Its data services include Internet protocol (IP), television (TV), hosting, managed information technology and cloud-based services, and certain healthcare solutions.

5 Day Chart for NYSE:TU

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