Scotia Capital buys $144.2 Million stake in BCE (USA) (BCE)

BCE (USA) (BCE) : Scotia Capital scooped up 220,379 additional shares in BCE (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 3,124,240 shares of BCE (USA) which is valued at $144.2 Million.BCE (USA) makes up approximately 3.46% of Scotia Capital’s portfolio.

Other Hedge Funds, Including , Counsel Portfolio Services sold out all of its stake in BCE during the most recent quarter. The investment firm sold 131,800 shares of BCE which is valued $6.1 Million.Wrapmanager Inc boosted its stake in BCE in the latest quarter, The investment management firm added 5,941 additional shares and now holds a total of 36,299 shares of BCE (USA) which is valued at $1.7 Million. BCE (USA) makes up approx 0.75% of Wrapmanager Inc’s portfolio.Duff Phelps Investment Management Co boosted its stake in BCE in the latest quarter, The investment management firm added 307,860 additional shares and now holds a total of 1,792,607 shares of BCE (USA) which is valued at $82.3 Million. BCE (USA) makes up approx 1.29% of Duff Phelps Investment Management Co’s portfolio.Regis Management Co reduced its stake in BCE by selling 960 shares or 11.62% in the most recent quarter. The Hedge Fund company now holds 7,300 shares of BCE which is valued at $335,216. BCE (USA) makes up approx 0.07% of Regis Management Co’s portfolio.John G Ullman Associates Inc reduced its stake in BCE by selling 3,350 shares or 1.6% in the most recent quarter. The Hedge Fund company now holds 205,928 shares of BCE which is valued at $9.7 Million. BCE (USA) makes up approx 2.24% of John G Ullman Associates Inc’s portfolio.

BCE (USA) opened for trading at $45.94 and hit $46.205 on the upside on Friday, eventually ending the session at $46.01, with a gain of 0.50% or 0.23 points. The heightened volatility saw the trading volume jump to 7,83,695 shares. Company has a market cap of $39,965 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.

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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