Pittenger & Anderson Inc. lessened its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 78.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,700 shares of the utilities provider’s stock after selling 39,350 shares during the quarter. Pittenger & Anderson Inc.’s holdings in BCE were worth $433,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cerebellum GP LLC boosted its position in shares of BCE by 171.5% during the 2nd quarter. Cerebellum GP LLC now owns 4,268 shares of the utilities provider’s stock valued at $173,000 after acquiring an additional 2,696 shares during the last quarter. Lenox Wealth Management Inc. boosted its position in shares of BCE by 42.2% during the 2nd quarter. Lenox Wealth Management Inc. now owns 4,958 shares of the utilities provider’s stock valued at $204,000 after acquiring an additional 1,472 shares during the last quarter. New England Asset Management Inc. bought a new stake in shares of BCE during the 2nd quarter valued at about $203,000. Checchi Capital Advisers LLC bought a new stake in shares of BCE during the 2nd quarter valued at about $211,000. Finally, Private Vista LLC bought a new stake in shares of BCE during the 1st quarter valued at about $226,000. Hedge funds and other institutional investors own 43.80% of the company’s stock.

A number of analysts have recently issued reports on BCE shares. ValuEngine downgraded BCE from a “hold” rating to a “sell” rating in a research report on Friday, June 1st. Edward Jones upgraded BCE from a “hold” rating to a “buy” rating in a research report on Monday, August 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the stock. BCE currently has a consensus rating of “Hold” and an average target price of $56.00.

NYSE:BCE opened at $39.91 on Friday. The company has a market capitalization of $36.50 billion, a P/E ratio of 15.23, a PEG ratio of 4.35 and a beta of 0.31. BCE Inc. has a 1-year low of $39.76 and a 1-year high of $49.06. The company has a quick ratio of 0.46, a current ratio of 0.50 and a debt-to-equity ratio of 1.10.

BCE (NYSE:BCE) (TSE:BCE) last released its earnings results on Thursday, August 2nd. The utilities provider reported $0.86 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.19. The company had revenue of $5.79 billion during the quarter, compared to the consensus estimate of $5.81 billion. BCE had a return on equity of 18.67% and a net margin of 12.00%. BCE’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS. equities analysts forecast that BCE Inc. will post 2.67 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 14th will be given a $0.58 dividend. This is an increase from BCE’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $2.32 dividend on an annualized basis and a yield of 5.81%. BCE’s payout ratio is presently 87.40%.

About BCE

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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