Telus Corp (TU) Stock Price Rose While Montrusco Bolton Investments INC Increased Stake

March 16, 2018 - By Richard Conner

Montrusco Bolton Investments Inc increased its stake in Telus Corp (TU) by 22.29% based on its latest 2017Q3 regulatory filing with the SEC. Montrusco Bolton Investments Inc bought 403,253 shares as the company’s stock rose 0.66% with the market. The institutional investor held 2.21M shares of the telecommunications equipment company at the end of 2017Q3, valued at $79.38M, up from 1.81 million at the end of the previous reported quarter. Montrusco Bolton Investments Inc who had been investing in Telus Corp for a number of months, seems to be bullish on the $21.26B market cap company. The stock decreased 1.14% or $0.41 during the last trading session, reaching $35.47. About 874,676 shares traded or 116.19% up from the average. TELUS Corporation (NYSE:TU) has risen 9.57% since March 16, 2017 and is uptrending. It has underperformed by 7.13% the S&P500.

Montrusco Bolton Investments Inc, which manages about $6.00B and $1.89B US Long portfolio, decreased its stake in Magna Intl Inc (NYSE:MGA) by 182,932 shares to 234,259 shares, valued at $12.47 million in 2017Q3, according to the filing. It also reduced its holding in Canadian Pac Ry Ltd (NYSE:CP) by 124,818 shares in the quarter, leaving it with 85,236 shares, and cut its stake in Pembina Pipeline Corp (NYSE:PBA).

TELUS Corporation (NYSE:TU) Ratings Coverage

Among 12 analysts covering Telus Corporation (NYSE:TU), 9 have Buy rating, 0 Sell and 3 Hold. Therefore 75% are positive. Telus Corporation had 19 analyst reports since August 4, 2015 according to SRatingsIntel. The rating was maintained by Barclays Capital on Friday, November 10 with “Overweight”. RBC Capital Markets downgraded it to “Sector Perform” rating and $41 target in Thursday, December 17 report. The stock of TELUS Corporation (NYSE:TU) has “Outperform” rating given on Tuesday, January 26 by Macquarie Research. The firm earned “Sector Outperform” rating on Wednesday, April 5 by IBC. The rating was maintained by RBC Capital Markets on Monday, August 10 with “Outperform”. The rating was downgraded by TD Securities on Wednesday, March 23 to “Hold”. The stock of TELUS Corporation (NYSE:TU) earned “Neutral” rating by Bank of America on Tuesday, November 21. The firm has “Buy” rating given on Thursday, August 11 by Desjardins Securities. The stock has “Outperform” rating by RBC Capital Markets on Friday, November 6. National Bank Canada upgraded TELUS Corporation (NYSE:TU) on Tuesday, February 7 to “Outperform” rating.

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