Signaturefd LLC Trims Stock Position in BCE, Inc. $BCE

Key Points

• Signaturefd LLC has reduced its stock position in BCE, Inc. by 47.4%, now holding 16,864 shares valued at approximately $374,000.
• BCE's recent earnings report showed a miss in earnings per share at $0.46, below the expected $0.52, with revenue also falling short at $4.47 billion compared to forecasts of $5.91 billion.
• The company announced a quarterly dividend of $0.4375 per share, reflecting a 7.5% yield, with a substantial payout ratio of 437.93%.

Signaturefd LLC lowered its position in shares of BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 47.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,864 shares of the utilities provider's stock after selling 15,209 shares during the period. Signaturefd LLC's holdings in BCE were worth $374,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of BCE. SVB Wealth LLC purchased a new position in BCE in the 1st quarter worth approximately $35,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of BCE in the 1st quarter worth approximately $47,000. Geneos Wealth Management Inc. raised its holdings in BCE by 64.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 3,096 shares of the utilities provider's stock valued at $71,000 after buying an additional 1,217 shares during the last quarter. Headlands Technologies LLC bought a new stake in BCE during the 1st quarter valued at $88,000. Finally, ORG Partners LLC raised its holdings in BCE by 77.2% during the 1st quarter. ORG Partners LLC now owns 3,891 shares of the utilities provider's stock valued at $89,000 after buying an additional 1,695 shares during the last quarter. Hedge funds and other institutional investors own 41.46% of the company's stock.

BCE Trading Up 0.3%

BCE stock opened at $23.45 on Thursday. The firm has a fifty day moving average price of $24.19 and a 200 day moving average price of $22.96. BCE, Inc. has a fifty-two week low of $20.28 and a fifty-two week high of $34.85. 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 firm has a market cap of $21.87 billion, a PE ratio of 80.88, a price-to-earnings-growth ratio of 3.95 and a beta of 0.63.

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

BCE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders 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 yield of 7.5%. The ex-dividend date of this dividend is Monday, September 15th. BCE's payout ratio is presently 437.93%.

Wall Street Analysts Forecast Growth

BCE has been the subject of a number of recent analyst reports. National Bankshares reiterated an "outperform" rating on shares of BCE in a report on Friday, August 15th. TD Securities reaffirmed a "hold" rating on shares of BCE in a research report on Friday, August 8th. Desjardins raised shares of BCE from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. Cibc World Mkts downgraded shares of BCE from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 3rd. Finally, CIBC restated a "neutral" rating on shares of BCE in a research note on Friday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $32.50.

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.

Want to see what other hedge funds are holding BCE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.