Federated Hermes Inc. Has $40.43 Million Stake in TELUS Co. (NYSE:TU)

Federated Hermes Inc. raised its stake in shares of TELUS Co. (NYSE:TU) (TSE:T) by 36.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,272,505 shares of the Wireless communications provider’s stock after buying an additional 610,416 shares during the quarter. Federated Hermes Inc. owned about 0.16% of TELUS worth $40,428,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Advisor Group Holdings Inc. grew its holdings in TELUS by 60.9% during the first quarter. Advisor Group Holdings Inc. now owns 14,694 shares of the Wireless communications provider’s stock valued at $260,000 after purchasing an additional 5,560 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of TELUS by 36.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 29,093 shares of the Wireless communications provider’s stock valued at $761,000 after buying an additional 7,737 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of TELUS by 59.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,666 shares of the Wireless communications provider’s stock valued at $148,000 after buying an additional 2,109 shares in the last quarter. Aviva PLC raised its stake in TELUS by 156.0% during the 1st quarter. Aviva PLC now owns 479,131 shares of the Wireless communications provider’s stock worth $12,536,000 after buying an additional 291,979 shares during the period. Finally, Cetera Investment Advisers bought a new position in TELUS during the first quarter worth about $206,000. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TU has been the subject of a number of research reports. JPMorgan Chase & Co. cut TELUS from an “overweight” rating to a “neutral” rating in a research note on Thursday, January 4th. BMO Capital Markets cut their price objective on shares of TELUS from $27.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, February 12th. StockNews.com lowered shares of TELUS from a “hold” rating to a “sell” rating in a research note on Tuesday, March 26th. Finally, Scotiabank reissued a “sector perform” rating and issued a $26.00 price target (down previously from $28.00) on shares of TELUS in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $27.72.

TELUS Price Performance

Shares of NYSE TU opened at $15.91 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 0.67 and a quick ratio of 0.62. The business has a 50-day moving average of $16.75 and a 200-day moving average of $17.26. The stock has a market capitalization of $23.48 billion, a price-to-earnings ratio of 37.00, a PEG ratio of 1.92 and a beta of 0.72. TELUS Co. has a fifty-two week low of $15.35 and a fifty-two week high of $21.34.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results on Friday, February 9th. The Wireless communications provider reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. TELUS had a return on equity of 7.81% and a net margin of 4.18%. The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.24 billion. During the same period in the prior year, the firm posted $0.17 earnings per share. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. As a group, sell-side analysts predict that TELUS Co. will post 0.76 earnings per share for the current fiscal year.

TELUS Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $0.2793 per share. This is an increase from TELUS’s previous quarterly dividend of $0.27. The ex-dividend date was Friday, March 8th. This represents a $1.12 annualized dividend and a yield of 7.02%. TELUS’s dividend payout ratio (DPR) is currently 258.14%.

TELUS 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.