1832 Asset Management LP recently announced the acquisition of new stake in BCE Inc. (NYSE:BCE). The institutional investor has increased its shareholding in the Communication Services company by 3.25% to 33.91 million shares with purchase of 1.07 million shares. This fresh investment now brings its stake to 3.72% valued currently at $1.5 billion. In addition, BMO Asset Management Corp. raised its holdings by 0.89 million to 15.56 million shares. And National Bank Financial, Inc. has lifted its position by 207.89% or 9.68 million shares – to 14.33 million shares.
With over 4.48 million BCE Inc. (BCE) shares trading Tuesday and a closing price of $43.29 on the day, the dollar volume was approximately $193.85 million. The shares have shown a negative half year performance of -12.55% and its price on 03/14/23 lost nearly -1.01%. Currently, there are 912.10M common shares owned by the public and among those 911.70M shares have been available to trade.
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The top 3 mutual fund holders in BCE Inc. are American Funds Income Fund of Ame, Caisse de Dépôt & Placement du Qu, and DWS Top Dividende. American Funds Income Fund of Ame owns 10.27 million shares of the company’s stock, all valued at over $454.28 million. The company bought an additional 0.57 million shares recently to bring their total holdings to about 1.13% of the shares outstanding. Caisse de Dépôt & Placement du Qu sold -0.32 million shares to see its total holdings shrink to 8.72 million shares valued at over $386.06 million and representing 0.96% of the shares outstanding. DWS Top Dividende now owns shares totaling to 0.93% of the shares outstanding.
Shares of BCE Inc. (NYSE: BCE) opened at $43.12, down -$0.61 from a prior closing price of $43.73. However, the script later moved the day high at 43.39, down -1.01%. The company’s stock has a 5-day price change of -1.64% and -6.70% over the past three months. BCE shares are trading -1.50% year to date (YTD), with the 12-month market performance down to -21.59% lower. It has a 12-month low price of $39.88 and touched a high of $59.34 over the same period. BCE has an average intraday trading volume of 1.44 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.97%, -4.69%, and -8.02% respectively.
Institutional ownership of BCE Inc. (NYSE: BCE) shares accounts for 52.90% of the company’s 912.10M shares outstanding. Mutual fund holders own 21.74%, while other institutional holders and individual stakeholders account for 22.99% and — respectively.
It has a market capitalization of $39.68B and a beta (3y monthly) value of 0.63. The stock’s trailing 12-month PE ratio is 20.10, while the earnings-per-share (ttm) stands at $2.15. The company has a PEG of 4.12 and a Quick Ratio of 0.50 with the debt-to-equity ratio at 1.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.58% over the week and 1.29% over the month.
Analysts forecast that BCE Inc. (BCE) will achieve an EPS of $0.62 for the current quarter, $0.61 for the next quarter and $2.53 for 2024. The lowest estimate earnings-per-share for the quarter is $0.58 while analysts give the company a high EPS estimate of $0.69. Comparatively, EPS for the current quarter was $0.69 a year ago. Earnings per share for the fiscal year are expected to decrease by -0.30%, and 7.79% over the next financial year. EPS should grow at an annualized rate of 4.88% over the next five years, compared to -1.40% over the past 5-year period.
Canaccord Genuity on their part issued Buy rating on August 06, 2021.
