BCE, Inc. (NYSE:BCE) Shares Sold by Forsta AP Fonden

Key Points

• Forsta AP Fonden sold 79,000 shares of BCE, Inc., reducing its holdings by 37.1%, now valued at $3,078,000.
• Several large investors, including Geode Capital Management and Invesco Ltd., significantly increased their positions in BCE during the 4th quarter.
• BCE reported a missed earnings estimate, with $0.46 EPS compared to a consensus estimate of $0.52, amid a revenue of $4.47 billion for the quarter.

Forsta AP Fonden cut its position in BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 37.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 134,100 shares of the utilities provider's stock after selling 79,000 shares during the period. Forsta AP Fonden's holdings in BCE were worth $3,078,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of BCE. Bernard Wealth Management Corp. acquired a new stake in shares of BCE in the 4th quarter worth $26,000. WealthCollab LLC acquired a new stake in shares of BCE in the 4th quarter worth $27,000. GeoWealth Management LLC acquired a new stake in shares of BCE in the 4th quarter worth $60,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of BCE by 67.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,310 shares of the utilities provider's stock worth $76,000 after acquiring an additional 1,329 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of BCE in the 1st quarter worth $88,000. 41.46% of the stock is owned by hedge funds and other institutional investors.

BCE Price Performance

BCE traded up $0.26 during midday trading on Friday, reaching $25.63. 1,751,910 shares of the company's stock were exchanged, compared to its average volume of 3,296,497. The company has a debt-to-equity ratio of 2.17, a current ratio of 0.61 and a quick ratio of 0.57. The stock has a market capitalization of $23.90 billion, a PE ratio of 88.37, a P/E/G ratio of 4.22 and a beta of 0.62. The business's 50-day moving average price is $23.26 and its 200 day moving average price is $22.84. BCE, Inc. has a 1-year low of $20.28 and a 1-year high of $36.17.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last announced its earnings results on Thursday, August 7th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.06). The business had revenue of $4.47 billion for the quarter, compared to analyst estimates of $5.91 billion. BCE had a return on equity of 18.89% and a net margin of 1.96%. The business's revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. As a group, equities analysts anticipate that BCE, Inc. will post 1.94 EPS for the current fiscal year.

BCE Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, July 15th. Stockholders of record on Tuesday, June 17th were given a $0.4375 dividend. This represents a dividend yield of 565.0%. The ex-dividend date of this dividend was Monday, June 16th. BCE's payout ratio is currently 437.93%.

Analysts Set New Price Targets

Several analysts have recently commented on BCE shares. TD Securities restated a "hold" rating on shares of BCE in a research note on Friday, August 8th. Cibc World Mkts downgraded shares of BCE from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 3rd. Royal Bank Of Canada reissued a "sector perform" rating and set a $35.00 price objective on shares of BCE in a report on Wednesday, May 14th. Scotiabank raised shares of BCE from a "sector perform" rating to a "sector outperform" rating in a report on Monday, June 2nd. Finally, Desjardins raised shares of BCE from a "hold" rating to a "moderate buy" rating in a report on Tuesday, August 5th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, BCE currently has an average rating of "Hold" and an average target price of $38.67.

BCE Profile

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.