Marathon Asset Management LLP cut its holdings in BCE Inc. (NYSE:BCE) (TSE:BCE) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 556,580 shares of the utilities provider’s stock after selling 16,437 shares during the quarter. Marathon Asset Management LLP owned about 0.06% of BCE worth $22,285,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of BCE. Legacy Financial Advisors Inc. lifted its holdings in shares of BCE by 31.1% during the fourth quarter. Legacy Financial Advisors Inc. now owns 1,349 shares of the utilities provider’s stock worth $53,000 after buying an additional 320 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of BCE in the fourth quarter valued at $81,000. Ipswich Investment Management Co. Inc. bought a new stake in BCE in the fourth quarter valued at $102,000. Edge Wealth Management LLC bought a new stake in BCE in the third quarter valued at $103,000. Finally, Glassman Wealth Services bought a new stake in BCE in the third quarter valued at $118,000. Hedge funds and other institutional investors own 42.13% of the company’s stock.
Several brokerages have recently commented on BCE. Desjardins upgraded BCE from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. TD Securities reiterated a “hold” rating on shares of BCE in a report on Wednesday, October 24th. ValuEngine upgraded BCE from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Zacks Investment Research lowered BCE from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of BCE in a research note on Friday, November 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. BCE currently has a consensus rating of “Hold” and a consensus price target of $45.50.
BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings results on Thursday, February 7th. The utilities provider reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The business had revenue of $6.22 billion during the quarter, compared to analysts’ expectations of $6.19 billion. BCE had a return on equity of 18.87% and a net margin of 12.30%. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.82 EPS. On average, research analysts predict that BCE Inc. will post 2.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be issued a $0.604 dividend. The ex-dividend date is Thursday, March 14th. This is a boost from BCE’s previous quarterly dividend of $0.57. This represents a $2.42 annualized dividend and a yield of 5.61%. BCE’s payout ratio is currently 83.39%.
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BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.
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