Triasima Portfolio Management inc. Makes New Investment in TELUS Co. (NYSE:TU)

Triasima Portfolio Management inc. bought a new position in shares of TELUS Co. (NYSE:TU) (TSE:T) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 10,805 shares of the Wireless communications provider’s stock, valued at approximately $146,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TU. Versant Capital Management Inc grew its holdings in TELUS by 195,100.0% during the 4th quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider’s stock worth $26,000 after acquiring an additional 1,951 shares in the last quarter. Blue Trust Inc. lifted its position 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 worth $67,000 after purchasing an additional 1,468 shares during the period. Avior Wealth Management LLC boosted its stake in shares of TELUS by 1,756.0% during the fourth quarter. Avior Wealth Management LLC now owns 4,807 shares of the Wireless communications provider’s stock valued at $65,000 after purchasing an additional 4,548 shares in the last quarter. Trust Co. of Vermont increased its holdings in TELUS by 19.0% during the third 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. bought a new position in TELUS in the second quarter worth approximately $163,000. Institutional investors own 49.40% of the company’s stock.

TELUS Stock Down 1.4 %

Shares of TU stock opened at $14.40 on Friday. The stock’s fifty day moving average price is $14.32 and its 200 day moving average price is $15.49. TELUS Co. has a 1-year low of $13.24 and a 1-year high of $18.16. The company has a market cap of $21.60 billion, a price-to-earnings ratio of 30.64, a price-to-earnings-growth ratio of 4.85 and a beta of 0.75. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.69 and a quick ratio of 0.63.

TELUS (NYSE:TU) (TSE:T) last issued its quarterly earnings results 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. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $3.69 billion. TELUS had a return on equity of 8.80% and a net margin of 4.56%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 earnings per share. On average, research analysts expect that TELUS Co. will post 0.72 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com cut TELUS from a “hold” rating to a “sell” rating in a research report on Thursday, November 21st. National Bank Financial downgraded TELUS from an “outperform” rating to a “sector perform” rating in a research report on Friday, December 13th. 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 began coverage on shares of TELUS in a report on Monday, December 16th. They issued an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $26.00.

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.