DekaBank Deutsche Girozentrale Acquires 70,129 Shares of BCE, Inc. (NYSE:BCE)
DekaBank Deutsche Girozentrale raised its stake in shares of BCE, Inc. (NYSE:BCE) (TSE:BCE) by 7.8% during the second quarter, Holdings Channel reports. The institutional investor owned 966,938 shares of the utilities provider’s stock after buying an additional 70,129 shares during the period. DekaBank Deutsche Girozentrale’s holdings in BCE were worth $43,600,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of BCE. Candriam Luxembourg S.C.A. boosted its position in shares of BCE by 108.2% in the first quarter. Candriam Luxembourg S.C.A. now owns 137,185 shares of the utilities provider’s stock valued at $6,057,000 after buying an additional 71,293 shares in the last quarter. Naples Global Advisors LLC boosted its position in shares of BCE by 1.4% in the first quarter. Naples Global Advisors LLC now owns 32,130 shares of the utilities provider’s stock valued at $1,422,000 after buying an additional 450 shares in the last quarter. Navellier & Associates Inc boosted its position in shares of 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 in the last quarter. Round Table Services LLC acquired a new position in shares of BCE during the first quarter valued at approximately $215,000. Finally, Bollard Group LLC boosted its position in shares of 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 in the last quarter. 43.99% of the stock is owned by institutional investors.
Shares of BCE, Inc. (NYSE BCE) opened at 46.14 on Friday. The firm has a market capitalization of $41.54 billion, a price-to-earnings ratio of 17.87 and a beta of 0.36. The stock has a 50 day moving average of $45.93 and a 200-day moving average of $44.94. BCE, Inc. has a one year low of $41.83 and a one year high of $49.03.
BCE (NYSE:BCE) (TSE:BCE) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by $0.02. The firm had revenue of $5.70 billion during the quarter, compared to analysts’ expectations of $5.65 billion. BCE had a net margin of 12.85% and a return on equity of 21.08%. BCE’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.94 earnings per share. On average, equities analysts anticipate that BCE, Inc. will post $2.65 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 15th. Stockholders 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 an increase from BCE’s previous quarterly dividend of $0.53. This represents a $2.30 annualized dividend and a dividend yield of 4.98%. BCE’s dividend payout ratio is 87.30%.
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Several equities analysts have commented on the stock. BidaskClub raised shares of BCE from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research cut shares of BCE from a “strong-buy” rating to a “hold” rating in a research report on Monday. Barclays PLC raised their price target on shares of BCE from $47.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Argus assumed coverage on shares of BCE in a research report on Tuesday, July 18th. They issued a “hold” rating for the company. Finally, Canaccord Genuity set a $60.00 price target on shares of BCE and gave the company a “hold” rating in a research report on Tuesday, May 16th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. BCE has a consensus rating of “Buy” and an average target price 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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