TELUS Co. (NYSE:TU) Shares Purchased by Harvest Portfolios Group Inc.

by · The Markets Daily

Harvest Portfolios Group Inc. grew its holdings in shares of TELUS Co. (NYSE:TU – Free Report) (TSE:T) by 6.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 509,052 shares of the Wireless communications provider’s stock after acquiring an additional 31,041 shares during the period. Harvest Portfolios Group Inc.’s holdings in TELUS were worth $8,540,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TU. Van ECK Associates Corp raised its position in shares of TELUS by 1.4% during the 3rd quarter. Van ECK Associates Corp now owns 288,058 shares of the Wireless communications provider’s stock valued at $4,662,000 after acquiring an additional 3,839 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in TELUS by 1.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 403,081 shares of the Wireless communications provider’s stock worth $6,702,000 after acquiring an additional 5,976 shares during the last quarter. Forsta AP Fonden boosted its stake in TELUS by 11.0% in the third quarter. Forsta AP Fonden now owns 351,700 shares of the Wireless communications provider’s stock valued at $5,902,000 after acquiring an additional 34,900 shares during the period. International Assets Investment Management LLC bought a new position in shares of TELUS during the third quarter valued at approximately $265,000. Finally, Private Advisor Group LLC acquired a new stake in shares of TELUS during the 3rd quarter worth approximately $187,000. 49.40% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Scotiabank upgraded TELUS from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, October 28th. StockNews.com upgraded shares of TELUS from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Finally, Canaccord Genuity Group downgraded shares of TELUS from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.00.

Read Our Latest Analysis on TELUS

TELUS Stock Up 0.1 %

Shares of TELUS stock opened at $15.64 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 0.66 and a quick ratio of 0.61. TELUS Co. has a 1-year low of $14.63 and a 1-year high of $19.14. The business’s fifty day moving average price is $16.38 and its two-hundred day moving average price is $16.14. The company has a market capitalization of $23.33 billion, a P/E ratio of 39.08, a PEG ratio of 2.40 and a beta of 0.75.

TELUS Company Profile

(Free Report)

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.

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