BCE, Inc. (NYSE:BCE) Position Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. trimmed its holdings in BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 19.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,402 shares of the utilities provider's stock after selling 11,787 shares during the period. PNC Financial Services Group Inc.'s holdings in BCE were worth $1,111,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in BCE. Bernard Wealth Management Corp. acquired a new stake in BCE in the 4th quarter valued at about $26,000. WealthCollab LLC acquired a new stake in shares of BCE during the 4th quarter worth about $27,000. GeoWealth Management LLC acquired a new stake in shares of BCE during the 4th quarter worth about $60,000. MassMutual Private Wealth & Trust FSB boosted its stake 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 worth $76,000 after purchasing an additional 1,329 shares during the last quarter. Finally, ORG Partners LLC boosted its stake in shares of BCE by 77.2% during the 1st quarter. ORG Partners LLC now owns 3,891 shares of the utilities provider's stock worth $89,000 after purchasing an additional 1,695 shares during the last quarter. 41.46% of the stock is owned by institutional investors and hedge funds.

BCE Price Performance

BCE stock traded up $0.23 during midday trading on Thursday, hitting $25.34. The company's stock had a trading volume of 1,960,442 shares, compared to its average volume of 3,299,259. The company has a quick ratio of 0.57, a current ratio of 0.61 and a debt-to-equity ratio of 2.17. The stock's 50-day moving average price is $23.19 and its 200-day moving average price is $22.83. BCE, Inc. has a 12 month low of $20.28 and a 12 month high of $36.17. The company has a market capitalization of $23.63 billion, a PE ratio of 87.40, a price-to-earnings-growth ratio of 4.10 and a beta of 0.62.

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

BCE Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, July 15th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.4375 per share. This represents a yield of 565.0%. The ex-dividend date was Monday, June 16th. BCE's payout ratio is presently 437.93%.

Wall Street Analysts Forecast Growth

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

BCE Company 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.