TELUS Co. (NYSE:TU) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC lifted its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 1.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 435,000 shares of the Wireless communications provider’s stock after buying an additional 8,000 shares during the quarter. Gabelli Funds LLC’s holdings in TELUS were worth $5,899,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Orion Portfolio Solutions LLC raised its stake in TELUS by 25.6% during the third quarter. Orion Portfolio Solutions LLC now owns 15,270 shares of the Wireless communications provider’s stock valued at $256,000 after buying an additional 3,110 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of TELUS in the 3rd quarter valued at approximately $1,509,000. Barclays PLC raised its position in shares of TELUS by 38.5% during the 3rd quarter. Barclays PLC now owns 467,148 shares of the Wireless communications provider’s stock valued at $7,839,000 after acquiring an additional 129,934 shares in the last quarter. Geode Capital Management LLC lifted its stake in TELUS by 8.2% during the third quarter. Geode Capital Management LLC now owns 2,335,660 shares of the Wireless communications provider’s stock worth $40,238,000 after purchasing an additional 177,953 shares during the last quarter. Finally, Tidal Investments LLC acquired a new position in TELUS in the third quarter worth $320,000. Institutional investors own 49.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on TU. Cormark cut shares of TELUS from a “moderate buy” rating to a “hold” rating in a report on Tuesday, March 4th. Bank of America lowered shares of TELUS from a “buy” rating to a “neutral” rating in a research note on Friday, March 21st. Finally, StockNews.com upgraded TELUS from a “sell” rating to a “hold” rating in a research note on Monday, February 10th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold”.

TELUS Stock Up 1.6 %

TELUS stock opened at $15.00 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.61 and a current ratio of 0.68. TELUS Co. has a one year low of $13.24 and a one year high of $17.27. The company has a 50-day simple moving average of $14.86 and a 200-day simple moving average of $14.96. The firm has a market capitalization of $22.70 billion, a P/E ratio of 30.60, a P/E/G ratio of 5.18 and a beta of 0.70.

TELUS (NYSE:TU) (TSE:T) last posted its earnings results on Thursday, February 13th. The Wireless communications provider reported $0.18 EPS for the quarter, topping the consensus estimate of $0.16 by $0.02. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.64 billion. TELUS had a net margin of 4.85% and a return on equity of 9.07%. During the same quarter in the prior year, the firm earned $0.10 EPS. As a group, equities analysts expect that TELUS Co. will post 0.71 earnings per share for the current year.

TELUS Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Tuesday, March 11th were given a dividend of $0.2829 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.13 dividend on an annualized basis and a yield of 7.55%. TELUS’s dividend payout ratio (DPR) is presently 226.53%.

About TELUS

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.