World Asset Management Inc Cuts Stock Position in BCE Inc. (NYSE:BCE)

World Asset Management Inc lessened its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 4.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,996 shares of the utilities provider’s stock after selling 593 shares during the quarter. World Asset Management Inc’s holdings in BCE were worth $591,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. TD Asset Management Inc. increased its holdings in BCE by 1.6% in the 1st quarter. TD Asset Management Inc. now owns 17,747,576 shares of the utilities provider’s stock worth $788,308,000 after acquiring an additional 274,189 shares in the last quarter. FIL Ltd grew its holdings in shares of BCE by 11.8% during the first quarter. FIL Ltd now owns 14,041,935 shares of the utilities provider’s stock worth $623,526,000 after buying an additional 1,487,023 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of BCE by 1.9% during the first quarter. Great West Life Assurance Co. Can now owns 7,931,450 shares of the utilities provider’s stock worth $350,868,000 after buying an additional 149,627 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of BCE by 18.1% during the first quarter. Acadian Asset Management LLC now owns 4,008,367 shares of the utilities provider’s stock worth $177,929,000 after buying an additional 614,130 shares in the last quarter. Finally, Mawer Investment Management Ltd. grew its holdings in shares of BCE by 8.6% during the first quarter. Mawer Investment Management Ltd. now owns 3,508,633 shares of the utilities provider’s stock worth $155,841,000 after buying an additional 278,380 shares in the last quarter. 43.72% of the stock is owned by institutional investors.

Shares of BCE stock traded up $0.22 on Friday, hitting $46.14. 1,341,642 shares of the stock traded hands, compared to its average volume of 779,566. The company’s 50-day moving average price is $45.65. The company has a quick ratio of 0.51, a current ratio of 0.55 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $41.33 billion, a PE ratio of 17.03, a PEG ratio of 4.89 and a beta of 0.41. BCE Inc. has a twelve month low of $38.75 and a twelve month high of $47.14.

BCE (NYSE:BCE) (TSE:BCE) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.02. The firm had revenue of $5.93 billion for the quarter, compared to analysts’ expectations of $5.90 billion. BCE had a net margin of 12.51% and a return on equity of 18.96%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. As a group, equities research analysts expect that BCE Inc. will post 2.67 EPS for the current fiscal year.

A number of research firms have recently issued reports on BCE. Citigroup lowered shares of BCE from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd. Zacks Investment Research raised shares of BCE from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Tuesday, July 30th. TD Securities raised shares of BCE from a “hold” rating to a “buy” rating and set a $44.38 target price for the company in a report on Tuesday, June 18th. Barclays reaffirmed an “average” rating and set a $66.00 target price on shares of BCE in a report on Sunday, May 5th. Finally, JPMorgan Chase & Co. lowered shares of BCE from an “overweight” rating to a “neutral” rating and set a $60.00 target price for the company. in a report on Monday, July 8th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $54.90.

BCE Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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