BCE Inc. (BCE) Shares Sold by Sit Investment Associates Inc.
Sit Investment Associates Inc. decreased its position in BCE Inc. (NYSE:BCE) by 62.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 331,870 shares of the company’s stock after selling 561,025 shares during the period. Sit Investment Associates Inc.’s holdings in BCE were worth $15,701,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Cribstone Capital Management LLC acquired a new stake in BCE during the second quarter worth $170,000. Howland Capital Management LLC acquired a new stake in BCE during the second quarter worth $204,000. Park Avenue Securities LLC acquired a new stake in BCE during the second quarter worth $204,000. Rehmann Capital Advisory Group acquired a new stake in BCE during the first quarter worth $222,000. Finally, Catawba Capital Management VA acquired a new stake in BCE during the second quarter worth $223,000. 44.48% of the stock is owned by institutional investors and hedge funds.
BCE Inc. (NYSE:BCE) traded down 0.11% on Thursday, hitting $45.40. 436,589 shares of the stock traded hands. The company has a market cap of $39.48 billion, a price-to-earnings ratio of 18.95 and a beta of 0.40. The stock has a 50-day moving average price of $46.79 and a 200 day moving average price of $46.74. BCE Inc. has a 1-year low of $35.96 and a 1-year high of $49.03.
BCE (NYSE:BCE) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The business earned $5.34 billion during 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%. The firm’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter last year, the business earned $0.87 EPS. On average, analysts anticipate that BCE Inc. will post $2.67 EPS for the current fiscal year.
The company 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 dividend of $0.52 per share. The ex-dividend date is Tuesday, September 13th. This represents a $2.08 annualized dividend and a yield of 4.58%. BCE’s payout ratio is 88.14%.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of BCE from a “sell” rating to a “hold” rating in a research note on Wednesday, September 21st. BMO Capital Markets reissued a “buy” rating and set a $65.00 price target on shares of BCE in a research note on Friday, August 5th. Desjardins reissued 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 reissued 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. reissued 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 equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $57.30.
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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