Sandy Spring Bank decreased its position in BCE, Inc. (NYSE:BCE) (TSE:BCE) by 5.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,025 shares of the utilities provider’s stock after selling 5,912 shares during the quarter. Sandy Spring Bank’s holdings in BCE were worth $4,775,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of BCE by 2.0% in the second quarter. PNC Financial Services Group Inc. now owns 276,034 shares of the utilities provider’s stock valued at $12,431,000 after purchasing an additional 5,302 shares during the last quarter. Stevens Capital Management LP acquired a new stake in BCE during the second quarter worth approximately $535,000. BlackRock Inc. grew its position in BCE by 35.8% during the second quarter. BlackRock Inc. now owns 2,062,333 shares of the utilities provider’s stock worth $92,888,000 after buying an additional 543,921 shares in the last quarter. Bruderman Asset Management LLC grew its position in BCE by 8.0% during the second quarter. Bruderman Asset Management LLC now owns 299,122 shares of the utilities provider’s stock worth $13,472,000 after buying an additional 22,118 shares in the last quarter. Finally, Bahl & Gaynor Inc. grew its position in BCE by 7.4% during the second quarter. Bahl & Gaynor Inc. now owns 51,316 shares of the utilities provider’s stock worth $2,219,000 after buying an additional 3,531 shares in the last quarter. 42.73% of the stock is currently owned by institutional investors.
Shares of BCE, Inc. (BCE) traded down 0.46% on Friday, hitting $47.53. The stock had a trading volume of 589,855 shares. The firm has a 50-day moving average of $47.23 and a 200 day moving average of $45.53. The company has a market capitalization of $42.79 billion, a PE ratio of 17.83 and a beta of 0.35. BCE, Inc. has a 1-year low of $41.83 and a 1-year high of $48.27.
BCE (NYSE:BCE) (TSE:BCE) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.65 EPS for the quarter, missing the 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 the consensus estimate of $5.65 billion. During the same quarter in the prior year, the firm posted $0.94 EPS. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. On average, equities analysts anticipate that BCE, Inc. will post $2.71 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders of record on Friday, September 15th will be given a $0.575 dividend. The ex-dividend date is Thursday, September 14th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 4.84%. This is an increase from BCE’s previous quarterly dividend of $0.53. BCE’s payout ratio is presently 94.26%.
A number of brokerages recently issued reports on BCE. BidaskClub raised BCE from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research raised 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 assumed coverage on BCE in a research note on Tuesday, July 18th. They set a “hold” rating for the company. Finally, Barclays PLC upped their target price on BCE from $47.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Five investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. BCE currently has an average rating of “Buy” and an average 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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