Garrison Financial Corp Lowers Position in BCE Inc. (BCE)

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Garrison Financial Corp cut its holdings in BCE Inc. (NYSE:BCE) (TSE:BCE) by 34.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,000 shares of the utilities provider’s stock after selling 6,723 shares during the quarter. Garrison Financial Corp’s holdings in BCE were worth $600,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its stake in BCE by 11.0% in the third quarter. The Manufacturers Life Insurance Company now owns 12,817,975 shares of the utilities provider’s stock worth $519,384,000 after acquiring an additional 1,271,570 shares during the period. Toronto Dominion Bank lifted its stake in BCE by 2.8% in the third quarter. Toronto Dominion Bank now owns 10,025,759 shares of the utilities provider’s stock worth $407,223,000 after acquiring an additional 272,114 shares during the period. FIL Ltd lifted its stake in BCE by 1.2% in the third quarter. FIL Ltd now owns 8,084,544 shares of the utilities provider’s stock worth $327,538,000 after acquiring an additional 98,996 shares during the period. Vanguard Group Inc. lifted its stake in BCE by 2.8% in the third quarter. Vanguard Group Inc. now owns 8,072,939 shares of the utilities provider’s stock worth $327,115,000 after acquiring an additional 220,625 shares during the period. Finally, Vanguard Group Inc lifted its stake in BCE by 2.8% in the third quarter. Vanguard Group Inc now owns 8,072,939 shares of the utilities provider’s stock worth $327,115,000 after acquiring an additional 220,625 shares during the period. 42.13% of the stock is owned by institutional investors.

Several research firms have commented on BCE. Zacks Investment Research lowered shares of BCE from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Echelon Wealth Partners reissued a “hold” rating on shares of BCE in a research report on Friday. Barclays decreased their price target on shares of BCE from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Friday, November 2nd. TD Securities reissued a “hold” rating on shares of BCE in a research report on Wednesday, October 24th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of BCE in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. BCE has a consensus rating of “Hold” and a consensus target price of $45.50.

BCE stock opened at $43.10 on Tuesday. The stock has a market cap of $38.71 billion, a price-to-earnings ratio of 15.90, a PEG ratio of 4.60 and a beta of 0.47. BCE Inc. has a one year low of $38.75 and a one year high of $45.08. The company has a quick ratio of 0.51, a current ratio of 0.56 and a debt-to-equity ratio of 1.18.

BCE (NYSE:BCE) (TSE:BCE) last released its quarterly earnings results on Thursday, February 7th. The utilities provider reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.01. The business had revenue of $6.22 billion during the quarter, compared to analyst estimates of $6.19 billion. BCE had a net margin of 12.30% and a return on equity of 18.87%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.82 earnings per share. Analysts predict that BCE Inc. will post 2.68 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be given a dividend of $0.604 per share. This represents a $2.42 annualized dividend and a dividend yield of 5.61%. This is a positive change from BCE’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, March 14th. BCE’s dividend payout ratio is presently 83.39%.

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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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