BCE Inc. (BCE) Stake Increased by Cwm LLC
Cwm LLC boosted its position in BCE Inc. (NYSE:BCE) (TSE:BCE) by 360.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,122 shares of the utilities provider’s stock after purchasing an additional 23,586 shares during the period. Cwm LLC’s holdings in BCE were worth $1,191,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Legacy Financial Advisors Inc. increased its position in BCE by 31.1% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,349 shares of the utilities provider’s stock worth $53,000 after buying an additional 320 shares in the last quarter. Cerebellum GP LLC purchased a new position in BCE during the fourth quarter worth $81,000. Ipswich Investment Management Co. Inc. purchased a new position in BCE during the fourth quarter worth $102,000. Edge Wealth Management LLC purchased a new position in BCE during the third quarter worth $103,000. Finally, Glassman Wealth Services purchased a new position in BCE during the third quarter worth $118,000. 42.23% of the stock is owned by hedge funds and other institutional investors.
BCE has been the subject of several recent research reports. Scotiabank raised BCE from a “sector perform” rating to a “buy” rating in a research report on Wednesday, October 10th. Zacks Investment Research raised BCE from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research report on Monday, October 15th. Desjardins raised BCE from a “hold” rating to a “buy” rating in a research report on Thursday, October 18th. TD Securities reissued a “hold” rating on shares of BCE in a research report on Wednesday, October 24th. Finally, ValuEngine raised BCE from a “sell” rating to a “hold” rating in a research report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $45.50.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. The business had revenue of $5.88 billion during the quarter, compared to the consensus estimate of $5.85 billion. BCE had a return on equity of 18.73% and a net margin of 12.13%. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 earnings per share. On average, research analysts anticipate that BCE Inc. will post 2.63 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th were given a $0.574 dividend. This represents a $2.30 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date was Thursday, December 13th. BCE’s dividend payout ratio is currently 86.26%.
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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