Intact Investment Management Inc. Acquires 543,320 Shares of BCE Inc. (NYSE:BCE)

Intact Investment Management Inc. lifted its stake in BCE Inc. (NYSE:BCE - Free Report) TSE: BCE by 66.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,360,980 shares of the utilities provider's stock after buying an additional 543,320 shares during the period. BCE makes up 1.6% of Intact Investment Management Inc.'s portfolio, making the stock its 14th biggest position. Intact Investment Management Inc. owned 0.15% of BCE worth $47,320,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of BCE. BNP Paribas Financial Markets grew its position in shares of BCE by 20.0% in the 1st quarter. BNP Paribas Financial Markets now owns 20,698 shares of the utilities provider's stock worth $703,000 after acquiring an additional 3,450 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of BCE by 2.8% during the first quarter. Janney Montgomery Scott LLC now owns 489,894 shares of the utilities provider's stock worth $16,647,000 after purchasing an additional 13,500 shares during the period. FORA Capital LLC bought a new position in shares of BCE in the 1st quarter worth about $2,490,000. Gold Investment Management Ltd. boosted its holdings in shares of BCE by 2.5% in the 1st quarter. Gold Investment Management Ltd. now owns 101,715 shares of the utilities provider's stock valued at $3,457,000 after buying an additional 2,498 shares during the period. Finally, Duality Advisers LP bought a new stake in shares of BCE during the 1st quarter valued at about $6,799,000. Institutional investors and hedge funds own 41.46% of the company's stock.

BCE Stock Performance

Shares of BCE traded down $2.98 on Monday, reaching $29.12. 10,176,003 shares of the stock traded hands, compared to its average volume of 2,225,313. BCE Inc. has a 12 month low of $28.82 and a 12 month high of $41.77. The firm has a market cap of $26.57 billion, a price-to-earnings ratio of 18.64, a P/E/G ratio of 5.39 and a beta of 0.59. The stock's 50-day moving average price is $34.25 and its 200-day moving average price is $33.72. The company has a debt-to-equity ratio of 2.00, a current ratio of 0.65 and a quick ratio of 0.62.

BCE (NYSE:BCE - Get Free Report) TSE: BCE last released its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.19. The business had revenue of $4.39 billion for the quarter, compared to analyst estimates of $4.46 billion. BCE had a return on equity of 17.10% and a net margin of 8.39%. During the same period in the prior year, the company earned $0.59 EPS. Equities analysts forecast that BCE Inc. will post 2.2 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BCE. National Bank Financial lowered BCE from a "strong-buy" rating to a "hold" rating in a report on Monday, September 30th. Cibc World Mkts raised BCE from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 2nd. Barclays reduced their price objective on shares of BCE from $35.00 to $34.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 9th. Finally, BMO Capital Markets lifted 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. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, BCE presently has an average rating of "Hold" and an average price target of $46.33.

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.