Leo Wealth LLC Invests $279,000 in TELUS Co. (NYSE:TU)

Leo Wealth LLC bought a new stake in TELUS Co. (NYSE:TU) (TSE:T) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 20,570 shares of the Wireless communications provider’s stock, valued at approximately $279,000.

Other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in TELUS by 195,100.0% in the fourth quarter. Versant Capital Management Inc now owns 1,952 shares of the Wireless communications provider’s stock valued at $26,000 after acquiring an additional 1,951 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 worth $65,000 after purchasing an additional 4,548 shares in the last quarter. Blue Trust Inc. grew its position in 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 purchasing an additional 1,468 shares during the period. Trust Co. of Vermont increased its stake in TELUS by 19.0% during the 3rd quarter. Trust Co. of Vermont now owns 7,623 shares of the Wireless communications provider’s stock valued at $128,000 after purchasing an additional 1,218 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new position in TELUS during the second quarter worth $163,000. 49.40% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

TELUS Stock Down 1.4 %

TU opened at $14.40 on Friday. TELUS Co. has a fifty-two week low of $13.24 and a fifty-two week high of $18.16. The firm has a market capitalization of $21.60 billion, a P/E ratio of 30.64, a PEG ratio of 4.81 and a beta of 0.75. The company’s 50-day moving average is $14.32 and its 200 day moving average is $15.49. 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 posted its earnings results on Friday, November 8th. The Wireless communications provider reported $0.28 EPS for the quarter, topping the consensus estimate of $0.17 by $0.11. TELUS had a net margin of 4.56% and a return on equity of 8.80%. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the firm earned $0.19 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Research analysts expect that TELUS Co. will post 0.72 earnings per share for the current fiscal year.

TELUS Company 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.