Crescent Grove Advisors LLC Invests $1.03 Million in BCE, Inc. (BCE)
Crescent Grove Advisors LLC purchased a new position in BCE, Inc. (NYSE:BCE) (TSE:BCE) during the second quarter, Holdings Channel reports. The firm purchased 22,500 shares of the utilities provider’s stock, valued at approximately $1,026,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. TD Asset Management Inc. raised its position in shares of BCE by 3.7% in the second quarter. TD Asset Management Inc. now owns 18,546,068 shares of the utilities provider’s stock worth $833,976,000 after buying an additional 667,600 shares during the period. Wellington Management Group LLP raised its position in shares of BCE by 1.9% in the first quarter. Wellington Management Group LLP now owns 13,247,536 shares of the utilities provider’s stock worth $584,936,000 after buying an additional 244,009 shares during the period. FMR LLC raised its position in shares of BCE by 3.6% in the first quarter. FMR LLC now owns 12,274,108 shares of the utilities provider’s stock worth $543,445,000 after buying an additional 424,228 shares during the period. Great West Life Assurance Co. Can raised its position in shares of BCE by 6.2% in the second quarter. Great West Life Assurance Co. Can now owns 7,763,938 shares of the utilities provider’s stock worth $348,772,000 after buying an additional 453,091 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of BCE by 9.0% in the first quarter. Vanguard Group Inc. now owns 6,839,144 shares of the utilities provider’s stock worth $302,769,000 after buying an additional 564,047 shares during the period. Institutional investors own 43.99% of the company’s stock.
Shares of BCE, Inc. (NYSE BCE) opened at 46.14 on Friday. The stock has a 50 day moving average price of $45.93 and a 200-day moving average price of $44.94. BCE, Inc. has a 1-year low of $41.83 and a 1-year high of $49.03. The company has a market cap of $41.54 billion, a P/E ratio of 17.87 and a beta of 0.36.
BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing the Zacks’ consensus estimate of $0.67 by $0.02. The firm had revenue of $5.70 billion during the quarter, compared to the consensus estimate of $5.65 billion. BCE had a net margin of 12.85% and a return on equity of 21.08%. The firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 earnings per share. Analysts predict that BCE, Inc. will post $2.65 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Shareholders of record on Friday, September 15th will be given a $0.575 dividend. This represents a $2.30 dividend on an annualized basis and a yield of 4.98%. This is a positive change from BCE’s previous quarterly dividend of $0.53. The ex-dividend date is Thursday, September 14th. BCE’s dividend payout ratio (DPR) is presently 87.30%.
A number of research analysts have issued reports on BCE shares. Canaccord Genuity set a $60.00 price target on BCE and gave the stock a “hold” rating in a research report on Tuesday, May 16th. BidaskClub upgraded BCE from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Barclays PLC boosted their price target on BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Zacks Investment Research lowered BCE from a “hold” rating to a “sell” rating in a research report on Wednesday, May 3rd. Finally, Argus started coverage on BCE in a research report on Tuesday, July 18th. They set a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. BCE currently has an average rating of “Buy” and a consensus price target 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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