BCE Inc. (NYSE:BCE) Shares Sold by John G Ullman & Associates Inc.

John G Ullman & Associates Inc. lowered its holdings in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) by 6.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,023 shares of the utilities provider’s stock after selling 3,809 shares during the period. John G Ullman & Associates Inc.’s holdings in BCE were worth $1,845,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BCE. Vanguard Group Inc. boosted its stake in shares of BCE by 0.6% during the first quarter. Vanguard Group Inc. now owns 14,725,614 shares of the utilities provider’s stock worth $500,376,000 after buying an additional 80,879 shares during the period. Toronto Dominion Bank lifted its holdings in shares of BCE by 12.0% during the second quarter. Toronto Dominion Bank now owns 8,450,810 shares of the utilities provider’s stock worth $273,553,000 after purchasing an additional 905,857 shares during the period. CIBC Asset Management Inc lifted its stake in shares of BCE by 23.8% in the 2nd quarter. CIBC Asset Management Inc now owns 5,520,090 shares of the utilities provider’s stock worth $178,677,000 after acquiring an additional 1,061,488 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of BCE by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 5,068,728 shares of the utilities provider’s stock valued at $163,932,000 after acquiring an additional 21,487 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of BCE by 5.5% during the second quarter. Federated Hermes Inc. now owns 3,564,393 shares of the utilities provider’s stock worth $115,379,000 after acquiring an additional 186,659 shares during the period. 41.46% of the stock is owned by hedge funds and other institutional investors.

BCE Stock Down 1.1 %

Shares of NYSE BCE opened at $27.00 on Thursday. The firm’s 50-day moving average is $32.27 and its two-hundred day moving average is $33.25. The company has a market capitalization of $24.63 billion, a PE ratio of 385.71, a price-to-earnings-growth ratio of 4.23 and a beta of 0.59. BCE Inc. has a 12-month low of $26.51 and a 12-month high of $41.77. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60.

BCE Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a yield of 10.92%. The ex-dividend date is Monday, December 16th. This is a boost from BCE’s previous quarterly dividend of $0.73. BCE’s dividend payout ratio is 4,228.57%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BCE shares. BMO Capital Markets raised their price target on BCE from $48.00 to $51.00 and gave the company a “market perform” rating in a report on Thursday, September 19th. Edward Jones downgraded BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a research note on Tuesday, November 5th. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Cibc World Mkts raised shares of BCE from a “hold” rating to a “strong-buy” rating in a report on Friday, August 2nd. Nine analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.00.

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.