BCE Inc. (NYSE:BCE) Shares Sold by USS Investment Management Ltd

USS Investment Management Ltd lowered its stake in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 29.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,648 shares of the utilities provider's stock after selling 60,100 shares during the period. USS Investment Management Ltd's holdings in BCE were worth $3,304,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BCE. Allworth Financial LP boosted its position in shares of BCE by 217.6% during the fourth quarter. Allworth Financial LP now owns 1,153 shares of the utilities provider's stock worth $27,000 after purchasing an additional 790 shares in the last quarter. WealthCollab LLC acquired a new position in shares of BCE during the 4th quarter worth about $27,000. Blue Trust Inc. increased its stake in shares of BCE by 1,147.3% during the 4th quarter. Blue Trust Inc. now owns 1,397 shares of the utilities provider's stock worth $32,000 after purchasing an additional 1,285 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in shares of BCE by 67.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 1,981 shares of the utilities provider's stock worth $46,000 after purchasing an additional 799 shares during the last quarter. Finally, Vision Financial Markets LLC bought a new stake in shares of BCE during the 4th quarter worth about $49,000. Institutional investors and hedge funds own 41.46% of the company's stock.

BCE Stock Up 1.1%

BCE traded up $0.24 on Thursday, hitting $21.40. The company had a trading volume of 792,151 shares, compared to its average volume of 2,942,501. BCE Inc. has a 12-month low of $20.28 and a 12-month high of $36.17. The stock has a market capitalization of $19.95 billion, a price-to-earnings ratio of 178.13, a P/E/G ratio of 4.13 and a beta of 0.63. The company has a debt-to-equity ratio of 2.26, a quick ratio of 0.60 and a current ratio of 0.62. The stock has a fifty day moving average price of $21.85 and a 200-day moving average price of $23.52.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last announced its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.04. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $5.92 billion. BCE had a return on equity of 17.89% and a net margin of 0.99%. BCE's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share. Analysts predict that BCE Inc. will post 1.94 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $35.00 price target on shares of BCE in a report on Wednesday, May 14th. JPMorgan Chase & Co. lowered shares of BCE from a "neutral" rating to an "underweight" rating in a research note on Friday, February 7th. National Bankshares reissued a "sector perform" rating on shares of BCE in a research note on Tuesday, March 11th. Finally, National Bank Financial upgraded shares of BCE from a "hold" rating to a "strong-buy" rating in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target 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.