FDx Advisors Inc. lifted its position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 5.0% during the fourth quarter, HoldingsChannel reports. The firm owned 114,954 shares of the utilities provider’s stock after acquiring an additional 5,442 shares during the period. FDx Advisors Inc.’s holdings in BCE were worth $5,519,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can lifted its position in shares of BCE by 5.2% during the third quarter. Great West Life Assurance Co. Can now owns 8,169,005 shares of the utilities provider’s stock valued at $381,970,000 after purchasing an additional 405,067 shares in the last quarter. APG Asset Management N.V. increased its holdings in BCE by 39.4% during the fourth quarter. APG Asset Management N.V. now owns 6,260,116 shares of the utilities provider’s stock worth $251,237,000 after buying an additional 1,768,100 shares during the last quarter. Acadian Asset Management LLC increased its holdings in BCE by 24.8% during the fourth quarter. Acadian Asset Management LLC now owns 3,471,341 shares of the utilities provider’s stock worth $166,662,000 after buying an additional 689,362 shares during the last quarter. Wells Fargo & Company MN increased its holdings in BCE by 1.4% during the third quarter. Wells Fargo & Company MN now owns 3,170,049 shares of the utilities provider’s stock worth $148,454,000 after buying an additional 44,251 shares during the last quarter. Finally, Mawer Investment Management Ltd. increased its holdings in BCE by 3.4% during the third quarter. Mawer Investment Management Ltd. now owns 2,553,196 shares of the utilities provider’s stock worth $119,690,000 after buying an additional 82,762 shares during the last quarter. 44.76% of the stock is currently owned by institutional investors.
A number of research firms recently issued reports on BCE. Barclays raised their price objective on shares of BCE from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Zacks Investment Research upgraded shares of BCE from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Friday, February 2nd. Canaccord Genuity restated a “hold” rating and set a $60.00 price objective on shares of BCE in a report on Thursday, November 2nd. Bank of America began coverage on shares of BCE in a report on Tuesday, November 21st. They set a “buy” rating and a $54.00 price objective for the company. Finally, Morgan Stanley raised their price objective on shares of BCE from $60.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 17th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. BCE currently has an average rating of “Buy” and a consensus price target of $56.00.
BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, February 8th. The utilities provider reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.01. The firm had revenue of $5.96 billion during the quarter, compared to the consensus estimate of $5.96 billion. BCE had a net margin of 12.25% and a return on equity of 19.85%. The company’s revenue was up 4.5% on a year-over-year basis. During the same quarter last year, the company earned $0.76 earnings per share. equities research analysts expect that BCE Inc. will post 2.75 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Thursday, March 15th will be paid a $0.601 dividend. This is an increase from BCE’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $2.40 annualized dividend and a dividend yield of 5.40%. BCE’s dividend payout ratio (DPR) is presently 95.83%.
BCE declared that its board has authorized a stock repurchase program on Thursday, February 8th that allows the company to repurchase $175.00 million in shares. This repurchase authorization allows the utilities provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
TRADEMARK VIOLATION NOTICE: “BCE Inc. (BCE) Position Lifted by FDx Advisors Inc.” was originally reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this report on another website, it was copied illegally and republished in violation of international trademark and copyright laws. The legal version of this report can be read at https://www.chaffeybreeze.com/2018/02/20/bce-inc-bce-position-lifted-by-fdx-advisors-inc.html.
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.
Want to see what other hedge funds are holding BCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BCE Inc. (NYSE:BCE) (TSE:BCE).
Receive News & Ratings for BCE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BCE and related companies with MarketBeat.com's FREE daily email newsletter.