BCE Inc. (NYSE:BCE) is Schafer Cullen Capital Management Inc’s 2nd Largest Position

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Schafer Cullen Capital Management Inc reduced its holdings in BCE Inc. (NYSE:BCE) (TSE:BCE) by 1.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,612,136 shares of the utilities provider’s stock after selling 81,843 shares during the quarter. BCE accounts for 2.7% of Schafer Cullen Capital Management Inc’s holdings, making the stock its 2nd biggest position. Schafer Cullen Capital Management Inc owned about 0.51% of BCE worth $223,274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Parametric Portfolio Associates LLC grew its position in BCE by 9.2% during the third quarter. Parametric Portfolio Associates LLC now owns 902,416 shares of the utilities provider’s stock valued at $43,686,000 after purchasing an additional 75,756 shares in the last quarter. Stifel Financial Corp grew its position in BCE by 6.6% in the third quarter. Stifel Financial Corp now owns 454,555 shares of the utilities provider’s stock worth $22,020,000 after acquiring an additional 28,284 shares in the last quarter. Voya Financial Advisors Inc. grew its position in BCE by 2.6% in the third quarter. Voya Financial Advisors Inc. now owns 48,560 shares of the utilities provider’s stock worth $2,351,000 after acquiring an additional 1,242 shares in the last quarter. Voya Investment Management LLC grew its position in BCE by 4.8% in the third quarter. Voya Investment Management LLC now owns 276,473 shares of the utilities provider’s stock worth $13,381,000 after acquiring an additional 12,742 shares in the last quarter. Finally, Colony Group LLC grew its position in BCE by 3.9% in the third quarter. Colony Group LLC now owns 113,493 shares of the utilities provider’s stock worth $5,494,000 after acquiring an additional 4,237 shares in the last quarter. Institutional investors and hedge funds own 45.22% of the company’s stock.

BCE has been the subject of several recent research reports. Zacks Investment Research downgraded shares of BCE from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a research report on Monday, September 9th. BMO Capital Markets restated a “buy” rating and issued a $65.00 price objective on shares of BCE in a research note on Monday, September 9th. National Bank Financial upgraded shares of BCE from a “sector perform” rating to an “outperform” rating in a research note on Friday, September 20th. Finally, Scotiabank restated a “buy” rating on shares of BCE in a research note on Friday, August 16th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $55.73.

Shares of BCE stock traded up $0.63 during mid-day trading on Wednesday, reaching $48.43. The company’s stock had a trading volume of 640,464 shares, compared to its average volume of 831,856. The firm’s 50-day moving average is $47.97 and its two-hundred day moving average is $46.90. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.56 and a current ratio of 0.60. BCE Inc. has a 1-year low of $38.85 and a 1-year high of $49.58. The company has a market cap of $43.34 billion, a P/E ratio of 17.87, a PEG ratio of 4.30 and a beta of 0.37.

BCE (NYSE:BCE) (TSE:BCE) last posted its earnings results on Thursday, October 31st. The utilities provider reported $0.91 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.21. BCE had a net margin of 12.61% and a return on equity of 18.75%. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.99 billion. During the same quarter in the prior year, the firm earned $0.96 EPS. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. Sell-side analysts anticipate that BCE Inc. will post 2.67 EPS for the current year.

About BCE

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. It operates in three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers wireless voice and data communications products and services, including 40 live and on-demand channels on smartphones and tablets; roaming services; push-to-talk, field service management, worker safety, and mobility management solutions; and asset management, smart buildings, smart cities, fleet management, and other Internet of Things services.

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Institutional Ownership by Quarter for BCE (NYSE:BCE)

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