Groesbeck Investment Management Corp NJ Makes New $331,000 Investment in TELUS Co. (NYSE:TU)

Groesbeck Investment Management Corp NJ purchased a new position in shares of TELUS Co. (NYSE:TU) (TSE:T) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,420 shares of the Wireless communications provider’s stock, valued at approximately $331,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of TELUS by 195,100.0% in the 4th quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider’s stock valued at $26,000 after buying an additional 1,951 shares during the period. Blue Trust Inc. lifted its holdings in shares of TELUS by 58.0% in the 3rd quarter. Blue Trust Inc. now owns 4,001 shares of the Wireless communications provider’s stock valued at $67,000 after buying an additional 1,468 shares during the period. Avior Wealth Management LLC lifted its holdings in shares of TELUS by 1,756.0% in the 4th quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider’s stock valued at $65,000 after buying an additional 4,548 shares during the period. Trust Co. of Vermont lifted its holdings in shares of TELUS by 19.0% in the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock valued at $128,000 after buying an additional 1,218 shares during the period. Finally, B. Riley Wealth Advisors Inc. acquired a new position in shares of TELUS in the 2nd quarter valued at about $163,000. Institutional investors and hedge funds own 49.40% of the company’s stock.

TELUS Trading Up 1.2 %

Shares of TU opened at $14.70 on Wednesday. The firm’s fifty day moving average is $14.36 and its two-hundred day moving average is $15.51. The stock has a market cap of $22.05 billion, a PE ratio of 31.28, a price-to-earnings-growth ratio of 4.81 and a beta of 0.75. The company has a quick ratio of 0.63, a current ratio of 0.69 and a debt-to-equity ratio of 1.50. TELUS Co. has a 52-week low of $13.24 and a 52-week high of $18.16.

TELUS (NYSE:TU) (TSE:T) last issued its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $3.69 billion. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.19 earnings per share. Research analysts forecast that TELUS Co. will post 0.72 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Stockholders of record on Wednesday, December 11th were given a $0.297 dividend. This represents a $1.19 dividend on an annualized basis and a dividend yield of 8.08%. This is a boost from TELUS’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, December 11th. TELUS’s dividend payout ratio is 242.56%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TU. Morgan Stanley began coverage on TELUS in a research note on Monday, December 16th. They issued an “equal weight” rating for the company. Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, October 28th. StockNews.com lowered TELUS from a “hold” rating to a “sell” rating in a research note on Thursday, November 21st. Finally, National Bank Financial lowered TELUS from an “outperform” rating to a “sector perform” rating in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.00.

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.