Goldman Sachs Group Inc. Buys 7,365,253 Shares of BCE, Inc. $BCE

Key Points

• Goldman Sachs Group Inc. increased its stake in BCE, Inc. by 170.7% during the first quarter, owning approximately 1.25% of the company worth $268.16 million.
• BCE reported an EPS of $0.46 for the last quarter, falling short of the consensus estimate of $0.52, with revenues of $4.47 billion compared to expectations of $5.91 billion.
• The company announced a quarterly dividend of $0.4375, providing an annualized yield of 7.2%, with a dividend payout ratio of 434.48%.

Goldman Sachs Group Inc. grew its position in shares of BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 170.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,679,620 shares of the utilities provider's stock after buying an additional 7,365,253 shares during the quarter. Goldman Sachs Group Inc. owned 1.25% of BCE worth $268,164,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new position in shares of BCE during the 4th quarter valued at $26,000. SVB Wealth LLC bought a new position in shares of BCE during the 1st quarter valued at $35,000. Caitong International Asset Management Co. Ltd bought a new position in shares of BCE during the 1st quarter valued at $47,000. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of BCE by 67.1% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,310 shares of the utilities provider's stock valued at $76,000 after buying an additional 1,329 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of BCE during the 1st quarter valued at $88,000. 41.46% of the stock is owned by institutional investors.

BCE Trading Down 2.2%

NYSE BCE traded down $0.54 during trading on Monday, hitting $23.62. The stock had a trading volume of 714,270 shares, compared to its average volume of 3,239,583. The company has a debt-to-equity ratio of 2.17, a quick ratio of 0.57 and a current ratio of 0.61. The stock has a market capitalization of $22.03 billion, a price-to-earnings ratio of 81.47, a P/E/G ratio of 4.07 and a beta of 0.63. BCE, Inc. has a one year low of $20.28 and a one year high of $36.17. The stock has a 50 day simple moving average of $24.38 and a 200 day simple moving average of $23.02.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.06). BCE had a net margin of 1.96% and a return on equity of 18.89%. The company had revenue of $4.47 billion for the quarter, compared to the consensus estimate of $5.91 billion. During the same period in the prior year, the firm posted $0.78 EPS. The business's revenue was up 1.3% on a year-over-year basis. BCE has set its FY 2025 guidance at 1.910-1.980 EPS. Sell-side analysts predict that BCE, Inc. will post 1.94 earnings per share for the current year.

BCE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.4375 per share. This represents a $1.75 annualized dividend and a dividend yield of 7.4%. The ex-dividend date of this dividend is Monday, September 15th. BCE's payout ratio is currently 437.93%.

Analyst Ratings Changes

A number of equities analysts recently commented on BCE shares. National Bankshares reaffirmed an "outperform" rating on shares of BCE in a report on Friday, August 15th. Desjardins raised BCE from a "hold" rating to a "moderate buy" rating in a report on Tuesday, August 5th. CIBC reaffirmed a "neutral" rating on shares of BCE in a report on Friday, August 22nd. Scotiabank raised BCE from a "sector perform" rating to a "sector outperform" rating in a report on Monday, June 2nd. Finally, TD Securities reaffirmed a "hold" rating on shares of BCE in a report on Friday, August 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $38.67.

About BCE

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 two segments, Bell Communication and Technology Services, and Bell Media. The Bell Communication and Technology Services segment provides wireless products and services including mobile data and voice plans and devices; wireline products and services comprising data, including internet access, internet protocol television, cloud-based services, and business solutions, as well as voice, and other communication services and products; and satellite TV and connectivity services for residential, small and medium-sized business, government, and large enterprise customers.