Thomaspartners buys $182.8 Million stake in BCE (USA) (BCE)

BCE (USA) (BCE) : Thomaspartners scooped up 148,338 additional shares in BCE (USA) during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 3,960,227 shares of BCE (USA) which is valued at $182.8 Million.BCE (USA) makes up approximately 2.62% of Thomaspartners’s portfolio.

Other Hedge Funds, Including , Dekabank Deutsche Girozentrale reduced its stake in BCE by selling 141,925 shares or 16.1% in the most recent quarter. The Hedge Fund company now holds 739,567 shares of BCE which is valued at $34.1 Million. BCE (USA) makes up approx 0.41% of Dekabank Deutsche Girozentrale’s portfolio.Ubs Asset Management Americas Inc boosted its stake in BCE in the latest quarter, The investment management firm added 87,526 additional shares and now holds a total of 1,044,253 shares of BCE (USA) which is valued at $48.2 Million. BCE (USA) makes up approx 0.06% of Ubs Asset Management Americas Inc’s portfolio.Credit Agricole S A reduced its stake in BCE by selling 44,212 shares or 30.84% in the most recent quarter. The Hedge Fund company now holds 99,163 shares of BCE which is valued at $4.6 Million. BCE (USA) makes up approx 0.02% of Credit Agricole S A’s portfolio.Blackrock Group Ltd reduced its stake in BCE by selling 2,940 shares or 16.29% in the most recent quarter. The Hedge Fund company now holds 15,110 shares of BCE which is valued at $697,629.

BCE (USA) opened for trading at $46.55 and hit $46.6 on the upside on Wednesday, eventually ending the session at $46.51, with a gain of 0.48% or 0.22 points. The heightened volatility saw the trading volume jump to 9,50,574 shares. Company has a market cap of $40,400 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). BCE (USA) was Downgraded by Citigroup to ” Neutral” on May 26, 2016.

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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