Virginia Retirement Systems ET AL Cuts Stock Position in BCE Inc. (NYSE:BCE)

Virginia Retirement Systems ET AL lessened its position in BCE Inc. (NYSE:BCEGet Rating) (TSE:BCE) by 26.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 252,500 shares of the utilities provider’s stock after selling 90,900 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in BCE were worth $14,009,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. Koshinski Asset Management Inc. raised its holdings in shares of BCE by 4.8% in the 1st quarter. Koshinski Asset Management Inc. now owns 3,912 shares of the utilities provider’s stock valued at $217,000 after buying an additional 180 shares during the period. Bremer Bank National Association raised its holdings in shares of BCE by 4.1% in the 1st quarter. Bremer Bank National Association now owns 4,753 shares of the utilities provider’s stock valued at $263,000 after buying an additional 189 shares during the period. SPC Financial Inc. raised its holdings in shares of BCE by 3.2% in the 4th quarter. SPC Financial Inc. now owns 6,425 shares of the utilities provider’s stock valued at $335,000 after buying an additional 200 shares during the period. Advisor Partners LLC raised its holdings in shares of BCE by 1.7% in the 4th quarter. Advisor Partners LLC now owns 12,003 shares of the utilities provider’s stock valued at $625,000 after buying an additional 206 shares during the period. Finally, Fieldpoint Private Securities LLC raised its holdings in shares of BCE by 11.5% in the 4th quarter. Fieldpoint Private Securities LLC now owns 2,009 shares of the utilities provider’s stock valued at $105,000 after buying an additional 208 shares during the period. Hedge funds and other institutional investors own 44.77% of the company’s stock.

Several equities research analysts have weighed in on BCE shares. Royal Bank of Canada upped their price target on BCE from C$69.00 to C$70.00 in a report on Friday, May 6th. Bank of America downgraded BCE from a “buy” rating to a “neutral” rating in a report on Monday, March 14th. Desjardins upped their price target on BCE from C$68.00 to C$70.00 in a report on Monday, May 9th. Canaccord Genuity Group cut their price target on BCE from C$71.00 to C$70.00 and set a “hold” rating on the stock in a report on Friday, May 6th. Finally, Scotiabank initiated coverage on BCE in a report on Tuesday. They set an “outperform” rating on the stock. Eight equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $67.18.

Shares of NYSE BCE opened at $49.85 on Friday. The business has a 50-day moving average price of $52.28 and a 200 day moving average price of $53.13. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.35. The stock has a market cap of $45.46 billion, a PE ratio of 19.25, a price-to-earnings-growth ratio of 4.43 and a beta of 0.46. BCE Inc. has a 52-week low of $47.25 and a 52-week high of $59.34.

BCE (NYSE:BCEGet Rating) (TSE:BCE) last posted its quarterly earnings data on Thursday, May 5th. The utilities provider reported $0.70 EPS for the quarter, beating the consensus estimate of $0.64 by $0.06. The firm had revenue of $5.85 billion during the quarter, compared to the consensus estimate of $5.86 billion. BCE had a return on equity of 15.75% and a net margin of 12.85%. The firm’s revenue was up 2.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 EPS. Sell-side analysts anticipate that BCE Inc. will post 2.65 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th will be paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 5.74%. The ex-dividend date of this dividend is Tuesday, June 14th. BCE’s dividend payout ratio (DPR) is 109.65%.

BCE Company Profile (Get Rating)

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 wireless voice and data communication products and services, as well as consumer electronics products.

Further Reading

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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