Baskin Financial Services Lowers stake in BCE (USA) (BCE)

BCE (USA) (BCE) : Baskin Financial Services reduced its stake in BCE (USA) by 0.29% during the most recent quarter end. The investment management company now holds a total of 320,846 shares of BCE (USA) which is valued at $14,733,248 after selling 947 shares in BCE (USA) , the firm said in a disclosure report filed with the SEC on May 3, 2016.BCE (USA) makes up approximately 4.29% of Baskin Financial Services’s portfolio.

Other Hedge Funds, Including , British Airways Pensions Investment Management Ltd boosted its stake in BCE in the latest quarter, The investment management firm added 98,400 additional shares and now holds a total of 163,000 shares of BCE (USA) which is valued at $7,484,960. BCE (USA) makes up approx 0.23% of British Airways Pensions Investment Management Ltd’s portfolio.Commonwealth Equity Services Inc reduced its stake in BCE by selling 1,932 shares or 2.47% in the most recent quarter. The Hedge Fund company now holds 76,270 shares of BCE which is valued at $3,577,826. BCE (USA) makes up approx 0.03% of Commonwealth Equity Services Inc’s portfolio.Fcm Investmentstx reduced its stake in BCE by selling 3,260 shares or 10.3% in the most recent quarter. The Hedge Fund company now holds 28,395 shares of BCE which is valued at $1,332,009. BCE (USA) makes up approx 0.72% of Fcm Investmentstx’s portfolio.Sigma Planning Corp boosted its stake in BCE in the latest quarter, The investment management firm added 602 additional shares and now holds a total of 21,044 shares of BCE (USA) which is valued at $970,760. BCE (USA) makes up approx 0.13% of Sigma Planning Corp’s portfolio.

BCE (USA) opened for trading at $45.84 and hit $46.26 on the upside on Tuesday, eventually ending the session at $46.19, with a gain of 1.25% or 0.57 points. The heightened volatility saw the trading volume jump to 6,55,411 shares. Company has a market cap of $40,122 M.

On the company’s financial health, BCE (USA) reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.83. The company had revenue of $5270.00 million for the quarter, compared to analysts expectations of $5322.33 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.84 EPS.

Many Wall Street Analysts have commented on BCE (USA). Company shares were Reiterated by Barclays on Feb 5, 2016 to “Overweight”, Firm has raised the Price Target to $ 45 from a previous price target of $43 .

BCE Inc. is a communications company. The Company provides residential business and wholesale customers with a range of solutions to all their communications needs including wireless high-speed Internet Internet protocol television (IPTV) and satellite TV business Internet protocol (IP) broadband and information and communications technology (ICT) services. The Company’s segments include Bell Wireless Bell Wireline and Bell Media. The Company’s Bell Wireless segment provides wireless services that are available to virtually all of the Canadian population. The Bell Wireline segment includes voice and data network; high-speed fiber deployment and bell direct to home (DTH) satellite television service. The Company’s Bell Media segment offers specialty and pay television radio digital media and out-of-home advertising. The Company through Bell media operates approximately 110 radio stations in over 50 markets across Canada.

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