FineMark National Bank & Trust cut its position in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 15.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 6,936 shares of the utilities provider’s stock after selling 1,276 shares during the period. FineMark National Bank & Trust’s holdings in BCE were worth $312,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the stock. Navellier & Associates Inc raised its stake in BCE by 7.2% in the first quarter. Navellier & Associates Inc now owns 7,884 shares of the utilities provider’s stock valued at $349,000 after buying an additional 532 shares during the last quarter. Round Table Services LLC purchased a new stake in BCE during the first quarter valued at $215,000. Bollard Group LLC raised its stake in BCE by 17.3% in the first quarter. Bollard Group LLC now owns 118,333 shares of the utilities provider’s stock valued at $5,239,000 after buying an additional 17,430 shares during the last quarter. Reilly Financial Advisors LLC raised its stake in BCE by 9.1% in the first quarter. Reilly Financial Advisors LLC now owns 25,075 shares of the utilities provider’s stock valued at $1,110,000 after buying an additional 2,100 shares during the last quarter. Finally, Americafirst Capital Management LLC purchased a new stake in BCE during the first quarter valued at $799,000. Institutional investors own 44.35% of the company’s stock.
Shares of BCE, Inc. (NYSE BCE) opened at 46.77 on Friday. The firm’s 50-day moving average is $46.24 and its 200-day moving average is $45.02. The company has a market cap of $42.11 billion, a price-to-earnings ratio of 18.11 and a beta of 0.36. BCE, Inc. has a one year low of $41.83 and a one year high of $48.36.
BCE (NYSE:BCE) (TSE:BCE) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.67 by $0.02. BCE had a net margin of 12.85% and a return on equity of 21.08%. The business had revenue of $5.70 billion during the quarter, compared to analyst estimates of $5.65 billion. During the same period last year, the firm posted $0.94 earnings per share. BCE’s quarterly revenue was up 6.7% compared to the same quarter last year. Analysts expect that BCE, Inc. will post $2.65 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 15th will be paid a $0.575 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This is a positive change from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 annualized dividend and a yield of 4.92%. BCE’s payout ratio is 87.30%.
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BCE has been the topic of several analyst reports. Canaccord Genuity set a $60.00 target price on shares of BCE and gave the stock a “hold” rating in a report on Tuesday, May 16th. BidaskClub raised shares of BCE from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Barclays PLC upped their target price on shares of BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a report on Friday, August 4th. Zacks Investment Research lowered shares of BCE from a “hold” rating to a “sell” rating in a report on Wednesday, May 3rd. Finally, Argus initiated coverage on shares of BCE in a report on Tuesday, July 18th. They issued a “hold” rating on the stock. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. BCE currently has a consensus rating of “Buy” and an average price target of $55.80.
BCE Company Profile
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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