BCE, Inc. (BCE) Holdings Cut by LSV Asset Management
LSV Asset Management cut its position in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 18.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 74,164 shares of the utilities provider’s stock after selling 17,300 shares during the period. LSV Asset Management’s holdings in BCE were worth $3,340,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of BCE. SG Americas Securities LLC raised its holdings in BCE by 0.7% in the first quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock worth $131,000 after buying an additional 20 shares during the last quarter. Camarda Financial Advisors LLC raised its holdings in BCE by 0.5% in the second quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock worth $133,000 after buying an additional 16 shares during the last quarter. AT Bancorp purchased a new position in BCE in the second quarter worth about $149,000. FNY Partners Fund LP purchased a new position in BCE in the first quarter worth about $168,000. Finally, Adell Harriman & Carpenter Inc. purchased a new position in BCE in the second quarter worth about $203,000. 42.73% of the stock is owned by institutional investors and hedge funds.
BCE, Inc. (BCE) opened at 47.97 on Wednesday. The stock’s 50 day moving average is $47.23 and its 200 day moving average is $45.53. The stock has a market capitalization of $43.19 billion, a PE ratio of 18.53 and a beta of 0.35. 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 quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by ($0.02). The company had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.65 billion. BCE had a net margin of 12.85% and a return on equity of 21.08%. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 earnings per share. Equities analysts anticipate that BCE, Inc. will post $2.75 EPS for the current fiscal year.
The business also recently disclosed 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. This represents a $2.30 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend is Thursday, September 14th. BCE’s dividend payout ratio (DPR) is presently 94.26%.
Several research analysts have issued reports on the stock. BidaskClub raised shares of BCE from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Zacks Investment Research cut shares of BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, August 7th. Barclays PLC lifted their target price on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Finally, Argus assumed coverage on shares of BCE in a report on Tuesday, July 18th. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $55.80.
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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