65,200 Shares in Bell Canada (BCE) Acquired by Quantitative Investment Management LLC

Quantitative Investment Management LLC bought a new position in shares of Bell Canada (NYSE:BCE) (TSE:BCE) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 65,200 shares of the utilities provider’s stock, valued at approximately $3,130,000.

Several other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in Bell Canada by 1.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 64,615 shares of the utilities provider’s stock worth $2,910,000 after acquiring an additional 1,099 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Bell Canada by 1.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 102,041 shares of the utilities provider’s stock worth $4,778,000 after acquiring an additional 1,137 shares in the last quarter. AE Wealth Management LLC lifted its position in Bell Canada by 5.6% during the 4th quarter. AE Wealth Management LLC now owns 22,077 shares of the utilities provider’s stock worth $1,060,000 after acquiring an additional 1,180 shares in the last quarter. Moors & Cabot Inc. lifted its position in Bell Canada by 8.7% during the 3rd quarter. Moors & Cabot Inc. now owns 14,956 shares of the utilities provider’s stock worth $695,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its position in Bell Canada by 1.7% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 73,746 shares of the utilities provider’s stock worth $3,554,000 after acquiring an additional 1,227 shares in the last quarter. Institutional investors and hedge funds own 45.05% of the company’s stock.

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Several research firms recently commented on BCE. Zacks Investment Research lowered Bell Canada from a “buy” rating to a “hold” rating in a research report on Thursday, February 1st. Desjardins lowered Bell Canada from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. Finally, Barclays boosted their price target on Bell Canada from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Bell Canada currently has a consensus rating of “Buy” and a consensus target price of $56.00.

Shares of BCE traded down $0.39 during trading on Friday, reaching $42.73. The company’s stock had a trading volume of 1,340,591 shares, compared to its average volume of 917,178. Bell Canada has a twelve month low of $42.01 and a twelve month high of $49.06. The firm has a market cap of $38,502.08, a price-to-earnings ratio of 16.31, a PEG ratio of 4.48 and a beta of 0.33. The company has a quick ratio of 0.39, a current ratio of 0.43 and a debt-to-equity ratio of 1.18.

Bell Canada (NYSE:BCE) (TSE:BCE) last announced its earnings results on Thursday, February 8th. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.01. Bell Canada had a return on equity of 19.85% and a net margin of 12.25%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.96 billion. During the same period in the prior year, the company posted $0.76 EPS. Bell Canada’s quarterly revenue was up 4.5% on a year-over-year basis. equities analysts expect that Bell Canada will post 2.73 earnings per share for the current fiscal year.

Bell Canada declared that its Board of Directors has initiated a share buyback plan on Thursday, February 8th that allows the company to repurchase $175.00 million in outstanding shares. This repurchase authorization allows the utilities provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 15th. Shareholders of record on Thursday, March 15th will be given a $0.601 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 5.63%. This is a positive change from Bell Canada’s previous quarterly dividend of $0.56. The ex-dividend date is Wednesday, March 14th. Bell Canada’s dividend payout ratio is presently 91.60%.

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Bell Canada Company Profile

BCE Inc, a telecommunications and media company, provides wireless, wireline, Internet, and television (TV) services to residential, business, and wholesale customers in Canada. The company operates through three segments: Bell Wireless, Bell Wireline, and Bell Media. The Bell Wireless segment offers integrated digital wireless voice and data communications products and services.

Institutional Ownership by Quarter for Bell Canada (NYSE:BCE)

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