BCE Inc. (BCE) Position Reduced by Hamlin Capital Management LLC
Hamlin Capital Management LLC reduced its position in shares of BCE Inc. (NYSE:BCE) by 16.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,354,195 shares of the company’s stock after selling 264,210 shares during the period. BCE makes up approximately 3.1% of Hamlin Capital Management LLC’s portfolio, making the stock its 13th largest position. Hamlin Capital Management LLC owned about 0.16% of BCE worth $64,067,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CIBC World Markets Inc. boosted its position in BCE by 1.7% in the second quarter. CIBC World Markets Inc. now owns 15,513,050 shares of the company’s stock worth $733,922,000 after buying an additional 257,656 shares during the period. Wellington Management Group LLP boosted its position in BCE by 0.8% in the first quarter. Wellington Management Group LLP now owns 12,303,401 shares of the company’s stock worth $562,913,000 after buying an additional 93,906 shares during the period. 1832 Asset Management L.P. boosted its position in BCE by 3.4% in the first quarter. 1832 Asset Management L.P. now owns 9,724,089 shares of the company’s stock worth $659,196,000 after buying an additional 318,919 shares during the period. Thomaspartners Inc. boosted its position in BCE by 3.9% in the first quarter. Thomaspartners Inc. now owns 3,960,227 shares of the company’s stock worth $180,349,000 after buying an additional 148,338 shares during the period. Finally, Scotia Capital Inc. boosted its position in BCE by 7.6% in the first quarter. Scotia Capital Inc. now owns 3,124,240 shares of the company’s stock worth $142,286,000 after buying an additional 220,379 shares during the period. Hedge funds and other institutional investors own 44.48% of the company’s stock.
BCE Inc. (NYSE:BCE) traded up 0.70% during trading on Wednesday, reaching $46.19. The company had a trading volume of 710,689 shares. The company has a market capitalization of $40.16 billion, a PE ratio of 19.27 and a beta of 0.43. The stock has a 50 day moving average price of $47.22 and a 200-day moving average price of $46.68. BCE Inc. has a 52-week low of $35.96 and a 52-week high of $49.03.
BCE (NYSE:BCE) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.03. The company had revenue of $5.34 billion for the quarter, compared to analyst estimates of $4.10 billion. BCE had a net margin of 13.02% and a return on equity of 22.89%. BCE’s revenue for the quarter was up .3% on a year-over-year basis. During the same quarter last year, the business earned $0.87 EPS. On average, equities research analysts anticipate that BCE Inc. will post $2.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, October 15th. Shareholders of record on Thursday, September 15th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 4.50%. BCE’s dividend payout ratio (DPR) is presently 88.56%.
A number of research analysts have commented on the company. Zacks Investment Research upgraded BCE from a “sell” rating to a “hold” rating in a research note on Wednesday, September 21st. BMO Capital Markets restated a “buy” rating and set a $65.00 price target on shares of BCE in a research note on Friday, August 5th. Desjardins restated a “hold” rating and set a $64.00 price target on shares of BCE in a research note on Wednesday, August 10th. Royal Bank Of Canada restated an “outperform” rating and set a $61.00 price target on shares of BCE in a research note on Thursday, June 9th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $66.00 price target (up from $62.00) on shares of BCE in a research note on Sunday, August 7th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $57.40.
BCE Company Profile
BCE Inc is a communications company. The Company provides a range of broadband communications and content services to consumer, residential, business and government customers in Canada. The Company offers various services under the Bell and Bell Aliant brands, such as fiber-based Internet protocol television (IPTV) and high-speed Internet services, home phone and business network and communications services.
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