Public Sector Pension investment Board grew its holdings in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 23.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,781,558 shares of the utilities provider’s stock after purchasing an additional 339,400 shares during the quarter. BCE comprises approximately 0.7% of Public Sector Pension investment Board’s portfolio, making the stock its 18th largest holding. Public Sector Pension investment Board owned approximately 0.20% of BCE worth $80,113,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its stake in BCE by 0.7% in the 1st quarter. SG Americas Securities LLC now owns 2,951 shares of the utilities provider’s stock worth $131,000 after purchasing an additional 20 shares in the last quarter. Camarda Financial Advisors LLC lifted its stake in BCE by 0.5% in the 2nd quarter. Camarda Financial Advisors LLC now owns 2,964 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 16 shares in the last quarter. AT Bancorp purchased a new position in BCE in the 2nd quarter worth approximately $149,000. FNY Partners Fund LP purchased a new position in BCE in the 1st quarter worth approximately $168,000. Finally, Engineers Gate Manager LP purchased a new position in BCE in the 2nd quarter worth approximately $203,000. 42.73% of the stock is currently owned by institutional investors and hedge funds.
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BCE, Inc. (NYSE:BCE) traded up 0.10% during mid-day trading on Wednesday, hitting $48.02. 215,753 shares of the stock traded hands. BCE, Inc. has a 12 month low of $41.83 and a 12 month high of $48.27. The stock’s 50 day moving average is $47.23 and its 200-day moving average is $45.53. The company has a market cap of $43.23 billion, a price-to-earnings ratio of 18.55 and a beta of 0.35.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.67 by ($0.02). The firm had revenue of $5.70 billion for the quarter, compared to analysts’ expectations of $5.65 billion. BCE had a net margin of 12.85% and a return on equity of 21.08%. The business’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 EPS. On average, equities research analysts anticipate that BCE, Inc. will post $2.75 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Investors of record on Friday, September 15th will be paid a dividend of $0.575 per share. This is an increase from BCE’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 14th. This represents a $2.30 annualized dividend and a dividend yield of 4.79%. BCE’s dividend payout ratio is presently 94.26%.
A number of research analysts have weighed in on BCE shares. BidaskClub raised shares of BCE from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Thursday, June 29th. Argus began coverage on shares of BCE in a research report on Tuesday, July 18th. They set a “hold” rating on the stock. Finally, Barclays PLC lifted their price target on shares of BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $55.80.
BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.
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