BCE Inc. (BCE) Position Raised by Genesee Valley Trust Co.
Genesee Valley Trust Co. increased its stake in shares of BCE Inc. (NYSE:BCE) by 3.0% during the second quarter, Holdings Channel reports. The firm owned 7,485 shares of the company’s stock after buying an additional 215 shares during the period. Genesee Valley Trust Co.’s holdings in BCE were worth $354,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of BCE. Cribstone Capital Management LLC bought a new position in BCE during the second quarter valued at about $170,000. Howland Capital Management LLC bought a new position in BCE during the second quarter valued at about $204,000. Rehmann Capital Advisory Group bought a new position in BCE during the first quarter valued at about $222,000. Catawba Capital Management VA bought a new position in BCE during the second quarter valued at about $223,000. Finally, Fox Run Management L.L.C. bought a new position in BCE during the first quarter valued at about $278,000. Hedge funds and other institutional investors own 44.48% of the company’s stock.
Shares of BCE Inc. (NYSE:BCE) traded up 1.19% during midday trading on Thursday, reaching $46.73. The company had a trading volume of 775,117 shares. The stock has a market capitalization of $40.63 billion, a PE ratio of 19.45 and a beta of 0.43. BCE Inc. has a 52-week low of $35.96 and a 52-week high of $49.03. The company’s 50 day moving average price is $47.38 and its 200 day moving average price is $46.60.
BCE (NYSE:BCE) last announced its earnings results on Thursday, August 4th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. BCE had a return on equity of 22.89% and a net margin of 13.02%. The company earned $5.34 billion during the quarter, compared to analysts’ expectations of $4.10 billion. During the same period last year, the business posted $0.87 EPS. BCE’s revenue for the quarter was up .3% on a year-over-year basis. Equities research analysts expect that BCE Inc. will post $2.67 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, October 15th. Stockholders of record on Thursday, September 15th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 4.45%. The ex-dividend date of this dividend is Tuesday, September 13th. BCE’s payout ratio is presently 88.56%.
BCE has been the topic of several recent analyst reports. BMO Capital Markets restated a “buy” rating and set a $65.00 price objective on shares of BCE in a report on Friday, August 5th. Zacks Investment Research upgraded shares of BCE from a “sell” rating to a “hold” rating in a report on Wednesday. Desjardins restated a “hold” rating and set a $64.00 price objective on shares of BCE in a report on Wednesday, August 10th. Citigroup Inc. upped their price objective on shares of BCE from $62.00 to $63.00 and gave the company a “neutral” rating in a report on Tuesday, July 19th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $61.00 price objective on shares of BCE in a report on Thursday, June 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $57.40.
BCE Company Profile
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.
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