XTX Topco Ltd Sells 66,877 Shares of BCE, Inc. (NYSE:BCE)

Key Points

• XTX Topco Ltd reduced its stake in BCE, Inc. by 64.3%, selling 66,877 shares and ending with 37,148 shares valued at $853,000.
• BCE stocks have received mixed ratings from analysts, with an average rating of "Hold" and a price target of $38.67.
• BCE's recent quarterly earnings report indicated a net margin of 1.82%, while revenue fell 1.3% year-over-year, triggering a dividend cut.

XTX Topco Ltd decreased its position in BCE, Inc. (NYSE:BCE - Free Report) TSE: BCE by 64.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,148 shares of the utilities provider's stock after selling 66,877 shares during the period. XTX Topco Ltd's holdings in BCE were worth $853,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in BCE by 114.1% in the fourth quarter. Geode Capital Management LLC now owns 1,548,165 shares of the utilities provider's stock valued at $39,384,000 after acquiring an additional 825,098 shares during the period. Aviva PLC lifted its stake in BCE by 317.1% in the fourth quarter. Aviva PLC now owns 49,100 shares of the utilities provider's stock valued at $1,136,000 after buying an additional 37,327 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of BCE by 235.2% in the fourth quarter. Quadrant Capital Group LLC now owns 6,882 shares of the utilities provider's stock valued at $160,000 after buying an additional 4,829 shares during the period. Unigestion Holding SA increased its position in shares of BCE by 75.2% during the fourth quarter. Unigestion Holding SA now owns 155,933 shares of the utilities provider's stock worth $3,610,000 after acquiring an additional 66,935 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in BCE by 21.4% during the 4th quarter. Invesco Ltd. now owns 2,405,560 shares of the utilities provider's stock worth $55,761,000 after purchasing an additional 423,912 shares in the last quarter. Institutional investors own 41.46% of the company's stock.

BCE Trading Up 1.1%

Shares of BCE stock traded up $0.27 during trading hours on Tuesday, hitting $23.58. 2,620,251 shares of the company's stock traded hands, compared to its average volume of 2,752,681. The stock has a market cap of $21.98 billion, a PE ratio of 90.67, a price-to-earnings-growth ratio of 3.83 and a beta of 0.62. The stock's 50 day simple moving average is $22.86 and its 200 day simple moving average is $22.79. The company has a quick ratio of 0.61, a current ratio of 0.64 and a debt-to-equity ratio of 2.40. BCE, Inc. has a 12 month low of $20.28 and a 12 month high of $36.17.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.04. BCE had a return on equity of 19.22% and a net margin of 1.82%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period in the previous year, the firm earned $0.75 earnings per share. The firm's quarterly revenue was down 1.3% on a year-over-year basis. On average, sell-side analysts anticipate that BCE, Inc. will post 1.94 EPS for the current 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 issued a dividend of $0.4375 per share. The ex-dividend date was Monday, June 16th. This represents a dividend yield of 565.0%. BCE's payout ratio is currently 488.46%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BCE shares. Cibc World Mkts lowered 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 target on shares of BCE in a research report on Wednesday, May 14th. Finally, Scotiabank raised BCE from a "sector perform" rating to a "sector outperform" rating in a report on Monday, June 2nd. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price 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.