Gamco Investors INC. ET AL Has $567,000 Holdings in BCE Inc. (BCE)
Gamco Investors INC. ET AL decreased its stake in BCE Inc. (NYSE:BCE) (TSE:BCE) by 73.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,800 shares of the utilities provider’s stock after selling 32,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in BCE were worth $567,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. WFG Advisors LP increased its position in BCE by 0.4% in the second quarter. WFG Advisors LP now owns 4,503 shares of the utilities provider’s stock worth $203,000 after buying an additional 16 shares in the last quarter. Nationwide Fund Advisors increased its position in BCE by 1.3% in the second quarter. Nationwide Fund Advisors now owns 12,614 shares of the utilities provider’s stock worth $568,000 after buying an additional 160 shares in the last quarter. Cetera Investment Advisers increased its position in BCE by 5.2% in the second quarter. Cetera Investment Advisers now owns 12,643 shares of the utilities provider’s stock worth $570,000 after buying an additional 629 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of BCE by 1.7% during the second quarter. Dimensional Fund Advisors LP now owns 64,615 shares of the utilities provider’s stock worth $2,910,000 after purchasing an additional 1,099 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its position in shares of BCE by 1.1% during the third quarter. Oppenheimer & Co. Inc. now owns 102,041 shares of the utilities provider’s stock worth $4,778,000 after purchasing an additional 1,137 shares in the last quarter. Institutional investors and hedge funds own 44.62% of the company’s stock.
Several research firms recently issued reports on BCE. Barclays increased their target price on BCE from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Zacks Investment Research upgraded BCE from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Friday, February 2nd. Canaccord Genuity reiterated a “hold” rating and set a $60.00 target price on shares of BCE in a research report on Thursday, November 2nd. Bank of America began coverage on BCE in a research report on Tuesday, November 21st. They set a “buy” rating and a $54.00 target price for the company. Finally, Morgan Stanley increased their target price on BCE from $60.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 17th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $56.00.
BCE (NYSE:BCE) (TSE:BCE) last released its earnings results on Thursday, February 8th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.01. BCE had a return on equity of 19.85% and a net margin of 12.25%. The firm had revenue of $5.96 billion during the quarter, compared to analysts’ expectations of $5.96 billion. During the same quarter last year, the business posted $0.76 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. analysts forecast that BCE Inc. will post 2.74 EPS for the current fiscal year.
BCE declared that its Board of Directors has approved a share repurchase plan on Thursday, February 8th that permits the company to buyback $175.00 million in shares. This buyback authorization permits the utilities provider to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 15th. Investors of record on Thursday, March 15th will be paid a dividend of $0.601 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This is a positive change from BCE’s previous quarterly dividend of $0.56. This represents a $2.40 dividend on an annualized basis and a yield of 5.40%. BCE’s dividend payout ratio is presently 95.83%.
ILLEGAL ACTIVITY WARNING: “Gamco Investors INC. ET AL Has $567,000 Holdings in BCE Inc. (BCE)” was first posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are reading this piece of content on another publication, it was copied illegally and reposted in violation of United States and international copyright & trademark laws. The legal version of this piece of content can be read at https://theolympiareport.com/2018/02/14/gamco-investors-inc-et-al-has-567000-holdings-in-bce-inc-bce.html.
BCE Company Profile
BCE Inc is a communications company. The Company’s segments include Bell Wireless, Bell Wireline and Bell Media. Its Bell Wireless segment provides wireless voice and data communications products and services to its residential, small and medium-sized business and large enterprise customers across Canada.
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) (TSE:BCE).
Receive News & Ratings for BCE Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BCE and related companies with MarketBeat.com's FREE daily email newsletter.