Intech Investment Management LLC Buys New Shares in BCE Inc. (NYSE:BCE)

Intech Investment Management LLC purchased a new position in shares of BCE Inc. (NYSE:BCE) (TSE:BCE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,522 shares of the utilities provider’s stock, valued at approximately $262,000.

A number of other large investors have also recently added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. raised its stake in BCE by 48.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,563,534 shares of the utilities provider’s stock valued at $123,877,000 after acquiring an additional 1,166,800 shares during the period. Atlanta Consulting Group Advisors LLC acquired a new position in shares of BCE in the third quarter valued at $766,000. American Assets Investment Management LLC bought a new position in shares of BCE in the third quarter valued at about $2,262,000. Natixis Advisors LLC raised its position in shares of BCE by 8.3% in the third quarter. Natixis Advisors LLC now owns 346,698 shares of the utilities provider’s stock valued at $12,065,000 after purchasing an additional 26,610 shares during the period. Finally, Intact Investment Management Inc. lifted its stake in shares of BCE by 66.4% during the 3rd quarter. Intact Investment Management Inc. now owns 1,360,980 shares of the utilities provider’s stock worth $47,320,000 after buying an additional 543,320 shares during the last quarter. Institutional investors and hedge funds own 41.46% of the company’s stock.

BCE Price Performance

BCE stock opened at $26.98 on Friday. The company has a debt-to-equity ratio of 2.26, a current ratio of 0.62 and a quick ratio of 0.60. The company’s 50-day moving average is $30.49 and its 200-day moving average is $32.72. The stock has a market capitalization of $24.61 billion, a PE ratio of 385.43, a price-to-earnings-growth ratio of 4.25 and a beta of 0.54. BCE Inc. has a 1 year low of $26.45 and a 1 year high of $41.77.

BCE Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 16th will be given a dividend of $0.737 per share. This represents a $2.95 dividend on an annualized basis and a dividend yield of 10.93%. This is a positive change from BCE’s previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Monday, December 16th. BCE’s dividend payout ratio is presently 4,214.29%.

Wall Street Analysts Forecast Growth

BCE has been the subject of several research reports. Canaccord Genuity Group downgraded shares of BCE from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. BMO Capital Markets lifted their price target on BCE from $48.00 to $51.00 and gave the stock a “market perform” rating in a report on Thursday, September 19th. Canaccord Genuity Group reaffirmed a “hold” rating on shares of BCE in a report on Tuesday, November 5th. National Bank Financial downgraded BCE from a “strong-buy” rating to a “hold” rating in a report on Monday, September 30th. Finally, Barclays decreased their price target on shares of BCE from $34.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. 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 stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $45.00.

BCE 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.