KCM Investment Advisors LLC Has $2.02 Million Position in BCE, Inc. (BCE)
KCM Investment Advisors LLC trimmed its position in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 14.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,780 shares of the utilities provider’s stock after selling 7,823 shares during the period. KCM Investment Advisors LLC’s holdings in BCE were worth $2,017,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the stock. Comerica Securities Inc. grew its position in BCE by 11.1% in the 2nd quarter. Comerica Securities Inc. now owns 15,014 shares of the utilities provider’s stock valued at $677,000 after buying an additional 1,506 shares during the last quarter. Payden & Rygel purchased a new position in BCE in the 2nd quarter valued at $8,940,000. Bridgewater Associates LP purchased a new position in BCE in the 2nd quarter valued at $7,062,000. Ameriprise Financial Inc. grew its position in BCE by 1.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,600,372 shares of the utilities provider’s stock valued at $207,414,000 after buying an additional 53,409 shares during the last quarter. Finally, Stephens Inc. AR grew its position in BCE by 0.4% in the 2nd quarter. Stephens Inc. AR now owns 295,996 shares of the utilities provider’s stock valued at $13,332,000 after buying an additional 1,103 shares during the last quarter. Hedge funds and other institutional investors own 42.96% of the company’s stock.
BCE has been the topic of several research analyst reports. Argus initiated coverage on shares of BCE in a research report on Tuesday, July 18th. They set a “hold” rating on the stock. Zacks Investment Research lowered shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 7th. BidaskClub lowered shares of BCE from a “hold” rating to a “sell” rating in a research report on Thursday, June 22nd. Finally, Barclays PLC boosted their target price on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. BCE presently has an average rating of “Buy” and an average price target of $55.80.
BCE, Inc. (NYSE:BCE) traded up 0.34% during midday trading on Friday, hitting $47.53. 111,287 shares of the company traded hands. The stock has a market cap of $42.79 billion, a P/E ratio of 18.36 and a beta of 0.35. The stock has a 50 day moving average of $47.17 and a 200 day moving average of $45.42. BCE, Inc. has a 12-month low of $41.83 and a 12-month high of $48.27.
BCE (NYSE:BCE) (TSE:BCE) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). BCE had a net margin of 12.85% and a return on equity of 21.08%. The firm had revenue of $5.70 billion for the quarter, compared to the consensus estimate of $5.65 billion. During the same period in the prior year, the business earned $0.94 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. Equities research analysts predict that BCE, Inc. will post $2.76 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 15th will be given a $0.575 dividend. This is a positive change from BCE’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.85%. BCE’s dividend payout ratio (DPR) is 87.30%.
BCE Company Profile
BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.
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