BCE Inc. (BCE) Position Reduced by Intrust Bank NA

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Intrust Bank NA lessened its holdings in BCE Inc. (NYSE:BCE) (TSE:BCE) by 23.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,216 shares of the utilities provider’s stock after selling 1,579 shares during the quarter. Intrust Bank NA’s holdings in BCE were worth $211,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Toronto Dominion Bank grew its holdings in shares of BCE by 35.6% during the second quarter. Toronto Dominion Bank now owns 9,753,645 shares of the utilities provider’s stock worth $400,193,000 after purchasing an additional 2,559,555 shares during the last quarter. Unigestion Holding SA purchased a new position in shares of BCE during the second quarter worth about $41,493,000. Addenda Capital Inc. grew its holdings in shares of BCE by 185.6% during the second quarter. Addenda Capital Inc. now owns 473,858 shares of the utilities provider’s stock worth $19,876,000 after purchasing an additional 307,949 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of BCE by 358.5% during the second quarter. Canada Pension Plan Investment Board now owns 382,010 shares of the utilities provider’s stock worth $15,461,000 after purchasing an additional 298,700 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its holdings in shares of BCE by 1,449.3% during the first quarter. Summit Trail Advisors LLC now owns 170,201 shares of the utilities provider’s stock worth $170,000 after purchasing an additional 159,215 shares during the last quarter. 43.44% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BCE stock opened at $41.56 on Tuesday. The stock has a market cap of $37.30 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 4.45 and a beta of 0.34. BCE Inc. has a 1 year low of $40.19 and a 1 year high of $49.06. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.46 and a current ratio of 0.50.

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

Several brokerages have issued reports on BCE. Edward Jones raised BCE from a “hold” rating to a “buy” rating in a report on Monday, August 13th. ValuEngine lowered BCE from a “hold” rating to a “sell” rating in a report on Friday, June 1st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. BCE presently has a consensus rating of “Hold” and an average target price of $56.00.

BCE Profile

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.

Further Reading: Average Daily Trade Volume – What You Need to Know

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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