Massachusetts Financial Services Co. MA Has $558,000 Stake in BCE Inc. (BCE)

Massachusetts Financial Services Co. MA lowered its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 93.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,764 shares of the utilities provider’s stock after selling 200,314 shares during the period. Massachusetts Financial Services Co. MA’s holdings in BCE were worth $558,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lenox Wealth Management Inc. increased its holdings in shares of BCE by 42.2% in the second quarter. Lenox Wealth Management Inc. now owns 4,958 shares of the utilities provider’s stock worth $204,000 after buying an additional 1,472 shares during the period. Beacon Investment Advisory Services Inc. increased its holdings in BCE by 17.2% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 11,952 shares of the utilities provider’s stock valued at $484,000 after purchasing an additional 1,756 shares during the period. Andra AP fonden increased its holdings in BCE by 8.0% during the 3rd quarter. Andra AP fonden now owns 24,400 shares of the utilities provider’s stock valued at $1,277,000 after purchasing an additional 1,800 shares during the period. Forte Capital LLC ADV increased its holdings in BCE by 8.9% during the 2nd quarter. Forte Capital LLC ADV now owns 22,477 shares of the utilities provider’s stock valued at $910,000 after purchasing an additional 1,837 shares during the period. Finally, Atria Investments LLC increased its holdings in BCE by 8.9% during the 3rd quarter. Atria Investments LLC now owns 22,732 shares of the utilities provider’s stock valued at $921,000 after purchasing an additional 1,850 shares during the period. Hedge funds and other institutional investors own 42.85% of the company’s stock.

Shares of NYSE:BCE opened at $40.99 on Friday. BCE Inc. has a 1 year low of $38.75 and a 1 year high of $49.06. The stock has a market cap of $36.72 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 4.41 and a beta of 0.32. The company has a current ratio of 0.57, a quick ratio of 0.53 and a debt-to-equity ratio of 1.14.

BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, November 1st. The utilities provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.03. BCE had a return on equity of 18.73% and a net margin of 12.13%. The firm had revenue of $5.88 billion for the quarter, compared to the consensus estimate of $5.85 billion. During the same quarter in the prior year, the business earned $0.86 EPS. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts expect 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 Tuesday, January 15th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.574 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 5.60%. BCE’s dividend payout ratio (DPR) is 88.55%.

BCE has been the topic of a number of research analyst reports. Desjardins upgraded BCE from a “hold” rating to a “buy” rating in a report on Thursday, October 18th. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Monday, October 15th. ValuEngine upgraded BCE from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Scotiabank upgraded BCE from a “sector perform” rating to a “buy” rating in a report on Wednesday, October 10th. Finally, Royal Bank of Canada restated a “hold” rating on shares of BCE in a report on Friday, November 2nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. BCE presently has a consensus rating of “Buy” and a consensus price target of $51.75.

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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. 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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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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