Jones Collombin Investment Counsel Inc Lowers stake in BCE (USA) (BCE)

BCE (USA) (BCE) : Jones Collombin Investment Counsel Inc reduced its stake in BCE (USA) by 65.9% during the most recent quarter end. The investment management company now holds a total of 104,955 shares of BCE (USA) which is valued at $4,815,335 after selling 202,815 shares in BCE (USA) , the firm said in a disclosure report filed with the SEC on Oct 17, 2016.BCE (USA) makes up approximately 1.52% of Jones Collombin Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Hexavest reduced its stake in BCE by selling 92,496 shares or 13.56% in the most recent quarter. The Hedge Fund company now holds 589,545 shares of BCE which is valued at $26,606,166. BCE (USA) makes up approx 0.48% of Hexavest’s portfolio.Legal General Group Plc reduced its stake in BCE by selling 33,397 shares or 2.26% in the most recent quarter. The Hedge Fund company now holds 1,443,123 shares of BCE which is valued at $65,128,141. BCE (USA) makes up approx 0.07% of Legal General Group Plc’s portfolio.Independent Portfolio Consultants reduced its stake in BCE by selling 350 shares or 2.46% in the most recent quarter. The Hedge Fund company now holds 13,885 shares of BCE which is valued at $631,073. BCE (USA) makes up approx 0.20% of Independent Portfolio Consultants’s portfolio.

BCE (USA) opened for trading at $45.99 and hit $46.15 on the upside on Friday, eventually ending the session at $45.88, with a gain of 0.33% or 0.15 points. The heightened volatility saw the trading volume jump to 5,91,809 shares. Company has a market cap of $39,893 M.

On the company’s financial health, BCE (USA) reported $0.94 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.91. The company had revenue of $5340.00 million for the quarter, compared to analysts expectations of $5378.48 million. The company’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 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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