Capital Fund Management S.A. bought a new position in BCE Inc. (NYSE:BCE) (TSE:BCE) in the 4th quarter, HoldingsChannel.com reports. The firm bought 5,379 shares of the utilities provider’s stock, valued at approximately $258,000.
Several other institutional investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in shares of BCE by 62.0% in the 4th quarter. D.A. Davidson & CO. now owns 7,470 shares of the utilities provider’s stock worth $359,000 after acquiring an additional 2,860 shares during the last quarter. Advisory Services Network LLC increased its stake in BCE by 507.3% in the 4th quarter. Advisory Services Network LLC now owns 5,253 shares of the utilities provider’s stock worth $252,000 after buying an additional 4,388 shares during the period. First Trust Advisors LP increased its stake in BCE by 15.8% in the 4th quarter. First Trust Advisors LP now owns 344,322 shares of the utilities provider’s stock worth $16,531,000 after buying an additional 46,918 shares during the period. Forsta AP Fonden purchased a new position in BCE in the 4th quarter worth about $9,421,000. Finally, Aviance Capital Management LLC increased its stake in BCE by 10.4% in the 4th quarter. Aviance Capital Management LLC now owns 83,314 shares of the utilities provider’s stock worth $4,000,000 after buying an additional 7,856 shares during the period. Hedge funds and other institutional investors own 44.76% of the company’s stock.
BCE Inc. (NYSE:BCE) opened at $44.46 on Monday. The company has a current ratio of 0.43, a quick ratio of 0.39 and a debt-to-equity ratio of 1.18. The company has a market cap of $40,059.97, a PE ratio of 18.53, a price-to-earnings-growth ratio of 4.62 and a beta of 0.30. BCE Inc. has a 12-month low of $42.44 and a 12-month high of $49.06.
BCE declared that its Board of Directors has initiated a share repurchase program on Thursday, February 8th that permits the company to repurchase $175.00 million in outstanding shares. This repurchase authorization permits the utilities provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 15th. Stockholders of record on Thursday, March 15th will be given a $0.601 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.41%. This is an increase from BCE’s previous quarterly dividend of $0.56. BCE’s payout ratio is presently 95.83%.
Several research analysts recently commented on BCE shares. Canaccord Genuity reaffirmed a “hold” rating and issued a $60.00 price target on shares of BCE in a research note on Thursday, November 2nd. National Bank Financial raised shares of BCE from a “sector perform” rating to an “outperform” rating in a research report on Thursday, November 2nd. Zacks Investment Research raised shares of BCE from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. Morgan Stanley raised their target price on shares of BCE from $60.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 17th. Finally, Bank of America assumed coverage on shares of BCE in a research report on Tuesday, November 21st. They set a “buy” rating and a $54.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $56.00.
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.
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