Uss Investment Management Ltd buys $86.4 Million stake in TELUS Corporation (USA) (TU)

TELUS Corporation (USA) (TU) : Uss Investment Management Ltd scooped up 2,163,439 additional shares in TELUS Corporation (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 2,760,772 shares of TELUS Corporation (USA) which is valued at $86.4 Million.TELUS Corporation (USA) makes up approximately 1.43% of Uss Investment Management Ltd’s portfolio.

Other Hedge Funds, Including , Todd Asset Management boosted its stake in TU in the latest quarter, The investment management firm added 64,079 additional shares and now holds a total of 351,572 shares of TELUS Corporation (USA) which is valued at $11 Million. TELUS Corporation (USA) makes up approx 0.34% of Todd Asset Management’s portfolio. Rhumbline Advisers added TU to its portfolio by purchasing 7,200 company shares during the most recent quarter which is valued at $222,552.Great West Life Assurance Co Can boosted its stake in TU in the latest quarter, The investment management firm added 1,021,926 additional shares and now holds a total of 7,668,805 shares of TELUS Corporation (USA) which is valued at $242.8 Million. TELUS Corporation (USA) makes up approx 0.86% of Great West Life Assurance Co Can’s portfolio.

TELUS Corporation (USA) opened for trading at $31.41 and hit $31.74 on the upside on Monday, eventually ending the session at $31.63, with a gain of 1.02% or 0.32 points. The heightened volatility saw the trading volume jump to 1,82,051 shares. Company has a market cap of $18,757 M.

On the company’s financial health, TELUS Corporation (USA) reported $0.70 EPS for the quarter, based on the information available during the earnings call on May 5, 2016. Analyst had a consensus estimate of $0.70. The company had revenue of $3108.00 million for the quarter, compared to analysts expectations of $3114.32 million. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.70 EPS.

Investors should note that on May 5, 2016, TELUS Corporation (USA) announced a cash dividend of $0.4600. The company’s management has announced Jun 8, 2016 as the ex-dividend date and fixed the record date on Jun 10, 2016. The payable date has been fixed on Jul 4, 2016.

Many Wall Street Analysts have commented on TELUS Corporation (USA). TELUS Corporation (USA) was Downgraded by TD Securities to ” Hold” on Mar 23, 2016. Shares were Reiterated by Barclays on Feb 12, 2016 to “Overweight” and Lowered the Price Target to $ 33 from a previous price target of $34 .

TELUS Corporation (TELUS) is a telecommunications company. The Company operates through two business segments: wireless segment and wireline segment. The wireless segment includes 8.1 million wireless subscribers. The wireline segment includes 3.2 million wireline network access lines (NALs). The Company provides a range of telecommunications services and products including wireless and wireline voice and data; TELUS TV a high-definition entertainment service with Optik TV and TELUS Satellite TV (TELUS Satellite TV is offered only in British Columbia and Alberta); Internet Protocol networks and applications; contact center and business process outsourcing solutions; hosting managed IT and cloud-based services around Internet of Things; TELUS Health’s technology including pharmacy management electronic medical and health record remote patient monitoring and online settlement claims management solutions and conferencing and collaboration equipment and application solutions.

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