Fulton Bank N.A. reduced its stake in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 0.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,476 shares of the utilities provider’s stock after selling 390 shares during the quarter. Fulton Bank N.A.’s holdings in BCE were worth $2,523,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. TD Asset Management Inc. boosted its position in shares of BCE by 1.6% during the first quarter. TD Asset Management Inc. now owns 17,747,576 shares of the utilities provider’s stock valued at $788,308,000 after buying an additional 274,189 shares during the period. FIL Ltd boosted its position in shares of BCE by 11.8% during the first quarter. FIL Ltd now owns 14,041,935 shares of the utilities provider’s stock valued at $623,526,000 after buying an additional 1,487,023 shares during the period. Great West Life Assurance Co. Can boosted its position in shares of BCE by 1.9% during the first quarter. Great West Life Assurance Co. Can now owns 7,931,450 shares of the utilities provider’s stock valued at $350,868,000 after buying an additional 149,627 shares during the period. Acadian Asset Management LLC boosted its position in shares of BCE by 18.1% during the first quarter. Acadian Asset Management LLC now owns 4,008,367 shares of the utilities provider’s stock valued at $177,929,000 after buying an additional 614,130 shares during the period. Finally, Mawer Investment Management Ltd. boosted its position in shares of BCE by 8.6% during the first quarter. Mawer Investment Management Ltd. now owns 3,508,633 shares of the utilities provider’s stock valued at $155,841,000 after buying an additional 278,380 shares during the period. Institutional investors and hedge funds own 43.74% of the company’s stock.
Shares of NYSE BCE traded up $0.30 during trading hours on Tuesday, reaching $45.96. The stock had a trading volume of 700,300 shares, compared to its average volume of 808,514. The company has a current ratio of 0.55, a quick ratio of 0.51 and a debt-to-equity ratio of 1.33. The firm has a market cap of $41.06 billion, a price-to-earnings ratio of 16.96, a price-to-earnings-growth ratio of 4.93 and a beta of 0.41. The company has a fifty day moving average price of $45.82. BCE Inc. has a 52-week low of $38.75 and a 52-week high of $47.14.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.58 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.58. The firm had revenue of $5.73 billion during the quarter, compared to analyst estimates of $5.75 billion. BCE had a return on equity of 18.66% and a net margin of 12.56%. BCE’s quarterly revenue was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.80 earnings per share. As a group, equities research analysts anticipate that BCE Inc. will post 2.64 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 14th were issued a dividend of $0.592 per share. The ex-dividend date was Thursday, June 13th. This represents a $2.37 dividend on an annualized basis and a yield of 5.15%. This is a positive change from BCE’s previous quarterly dividend of $0.56. BCE’s dividend payout ratio is currently 87.45%.
BCE has been the subject of several recent analyst reports. Desjardins boosted their target price on Stella-Jones from C$50.00 to C$54.00 in a research report on Friday, May 3rd. Barclays reiterated a “buy” rating on shares of NXP Semiconductors in a report on Sunday, May 5th. TD Securities boosted their price target on Dream Industrial Real Estate Invest Trst from C$13.00 to C$13.50 and gave the company a “buy” rating in a report on Tuesday, June 18th. BMO Capital Markets reiterated a “buy” rating on shares of Brookfield Asset Management in a report on Friday, April 5th. Finally, JPMorgan Chase & Co. upgraded M.D.C. from an “underweight” rating to a “neutral” rating in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $54.06.
BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.
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