DAVENPORT & Co LLC Sells 6,824 Shares of BCE Inc. (NYSE:BCE)

DAVENPORT & Co LLC decreased its holdings in shares of BCE Inc. (NYSE:BCEFree Report) (TSE:BCE) by 4.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 148,509 shares of the utilities provider’s stock after selling 6,824 shares during the period. DAVENPORT & Co LLC’s holdings in BCE were worth $5,848,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BCE. Invesco Ltd. lifted its stake in BCE by 6.0% in the third quarter. Invesco Ltd. now owns 1,928,620 shares of the utilities provider’s stock valued at $73,615,000 after buying an additional 109,866 shares during the period. National Bank of Canada FI grew its holdings in BCE by 2.1% during the third quarter. National Bank of Canada FI now owns 15,712,011 shares of the utilities provider’s stock valued at $575,871,000 after purchasing an additional 323,998 shares during the period. Wellington Management Group LLP increased its stake in BCE by 57.2% in the third quarter. Wellington Management Group LLP now owns 2,318,302 shares of the utilities provider’s stock valued at $88,908,000 after purchasing an additional 843,626 shares in the last quarter. Raymond James Trust N.A. raised its holdings in BCE by 1.5% in the fourth quarter. Raymond James Trust N.A. now owns 29,477 shares of the utilities provider’s stock worth $1,161,000 after purchasing an additional 431 shares during the period. Finally, Claret Asset Management Corp raised its holdings in BCE by 54.2% in the third quarter. Claret Asset Management Corp now owns 86,587 shares of the utilities provider’s stock worth $3,307,000 after purchasing an additional 30,444 shares during the period. Institutional investors and hedge funds own 41.46% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BCE. BMO Capital Markets restated a “market perform” rating and issued a $46.00 price objective (down previously from $54.00) on shares of BCE in a research report on Tuesday. Barclays dropped their price target on BCE from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research report on Monday, February 12th. JPMorgan Chase & Co. decreased their price objective on BCE from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. TD Securities downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Argus cut shares of BCE from a “buy” rating to a “hold” rating in a report on Monday, March 4th. Eight equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $49.75.

View Our Latest Stock Report on BCE

BCE Trading Up 0.2 %

NYSE BCE opened at $32.99 on Thursday. The stock has a market capitalization of $30.10 billion, a price-to-earnings ratio of 19.52, a PEG ratio of 4.51 and a beta of 0.56. BCE Inc. has a 52 week low of $32.38 and a 52 week high of $48.38. The stock’s 50 day moving average price is $36.91 and its two-hundred day moving average price is $38.39. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.61 and a current ratio of 0.65.

BCE (NYSE:BCEGet Free Report) (TSE:BCE) last announced its earnings results on Thursday, February 8th. The utilities provider reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. The business had revenue of $4.76 billion during the quarter, compared to analysts’ expectations of $4.82 billion. BCE had a net margin of 8.82% and a return on equity of 17.13%. As a group, analysts anticipate that BCE Inc. will post 2.36 earnings per share for the current fiscal year.

BCE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be given a $0.742 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $2.97 dividend on an annualized basis and a dividend yield of 9.00%. This is an increase from BCE’s previous quarterly dividend of $0.70. BCE’s payout ratio is currently 174.56%.

BCE Profile

(Free Report)

BCE Inc, a communications 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 communication products and services, as well as consumer electronics products.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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