ECB Inc. (NYSE:BCE) Shares Sold by Fifth Third Bancorp

VaselineAugust 26, 2024

0 3 minutes read

Fifth Third Bancorp trimmed its stake in shares of BCE Inc. (NYSE:BCE – Free Report) (TSE:BCE) by 17.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,211 shares of the utilities provider’s stock after selling 1,952 shares during the quarter. Fifth Third Bancorp’s holdings in BCE were worth $298,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Cape Investment Advisory Inc. grew its stake in ECB by 84.1% in the fourth quarter. Cape Investment Advisory Inc. now owns 659 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 301 shares during the period. Hexagon Capital Partners LLC boosted its stake in BCE by 239.9% in the 4th quarter. Hexagon Capital Partners LLC now owns 707 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 499 shares during the last quarter. ESL Trust Services LLC acquired a new stake in shares of BCE in the 1st quarter worth approximately $31,000. Livelsberger Financial Advisory acquired a new stake in shares of BCE during the fourth quarter valued at about $35,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of ECB by 3,480.0% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,074 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 1,044 shares during the last quarter. 41.46% of shares are owned by institutional investors and hedge funds.

ECB trading up 1.2%

Shares of ECB stock opened at $34.97 on Friday. ECB Inc. it has a 52-week low of $31.13 and a 52-week high of $42.96. The stock has a market cap of $31.90 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 5.62 and a beta of 0.57. The company has a quick ratio of 0.57, a current ratio of 0.61, and a debt-to-equity ratio of 1.87. The company’s fifty day moving average is $33.26 and its two hundred day moving average is $34.12.

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BCE (NYSE:BCE – Get Your Free Report ) (TSE:BCE) last posted its earnings results on Thursday, August 1st. The utilities provider reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.19. ECB had a return on equity of 16.88% and a net margin of 8.39%. The company had revenue of $4.39 billion for the quarter, compared to analysts’ expectations of $4.46 billion. During the same period in the previous year, the firm posted EPS of $0.59. Research analysts estimate that BCE Inc. will post 2.22 earnings per share for the current fiscal year.

ECB cuts dividends

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 16th will be given a $0.729 dividend. This represents a dividend of $2.92 on an annualized basis and a dividend yield of 8.34%. The ex-dividend date of this dividend is Monday, September 16. The ECB’s dividend payout ratio (DPR) is currently 200.69%.

Changes in Analyst Ratings

A number of analysts recently commented on the company. Cibc World Mkts upgraded BCE from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 2nd. BMO Capital Markets raised their target price on shares of BCE from $46.00 to $47.00 and gave the company a “market perform” rating in a research report on Wednesday, June 12th. Six analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $45.33.

See our latest report on the ECB

BCE Company Profile

(Free report)

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; Cable products and services involving data, including Internet access, Internet Protocol television, cloud-based services and business solutions, and voice and other communications services and products; and satellite television and connectivity services for residential, small and medium business, government and large corporate customers.