Letko Brosseau & Associates Lowered Stake in Bce (BCE) by $2.34 Million as Share Value Declined; Allen Holding Has Cut Its Argan (AGX) Stake as Stock Price Declined

December 8, 2017 - By Richard Conner

Allen Holding Inc decreased its stake in Argan Inc (AGX) by 16.79% based on its latest 2017Q2 regulatory filing with the SEC. Allen Holding Inc sold 6,400 shares as the company’s stock declined 5.69% while stock markets rallied. The institutional investor held 31,716 shares of the basic industries company at the end of 2017Q2, valued at $1.90M, down from 38,116 at the end of the previous reported quarter. Allen Holding Inc who had been investing in Argan Inc for a number of months, seems to be less bullish one the $686.48 million market cap company. The stock decreased 23.22% or $13.35 during the last trading session, reaching $44.15. About 2.38M shares traded or 1207.68% up from the average. Argan, Inc. (NYSE:AGX) has risen 101.20% since December 8, 2016 and is uptrending. It has outperformed by 84.50% the S&P500.

Letko Brosseau & Associates Inc decreased its stake in Bce Inc (BCE) by 0.84% based on its latest 2017Q2 regulatory filing with the SEC. Letko Brosseau & Associates Inc sold 53,136 shares as the company’s stock declined 0.38% while stock markets rallied. The institutional investor held 6.27 million shares of the public utilities company at the end of 2017Q2, valued at $281.95 million, down from 6.32 million at the end of the previous reported quarter. Letko Brosseau & Associates Inc who had been investing in Bce Inc for a number of months, seems to be less bullish one the $43.78 billion market cap company. The stock decreased 0.25% or $0.12 during the last trading session, reaching $48.21. About 651,869 shares traded. BCE Inc. (NYSE:BCE) has declined 2.36% since December 8, 2016 and is downtrending. It has underperformed by 19.06% the S&P500.

Letko Brosseau & Associates Inc, which manages about $24.00B and $10.23 billion US Long portfolio, upped its stake in Abbvie Inc (NYSE:ABBV) by 13,862 shares to 623,332 shares, valued at $45.20M in 2017Q2, according to the filing. It also increased its holding in Cenovus Energy Inc (NYSE:CVE) by 7.35M shares in the quarter, for a total of 27.16 million shares, and has risen its stake in Icici Bk Ltd (NYSE:IBN).

Analysts await BCE Inc. (NYSE:BCE) to report earnings on February, 1. They expect $0.58 earnings per share, up 1.75% or $0.01 from last year’s $0.57 per share. BCE’s profit will be $526.70 million for 20.78 P/E if the $0.58 EPS becomes a reality. After $0.70 actual earnings per share reported by BCE Inc. for the previous quarter, Wall Street now forecasts -17.14% negative EPS growth.

More notable recent BCE Inc. (NYSE:BCE) news were published by: Fool.ca which released: “Could BCE Inc. Hit $70?” on November 16, 2017, also Fool.ca with their article: “BCE Inc. or Canadian National Railway Company for Your Retirement Fund?” published on November 30, 2017, Fool.ca published: “TFSA Investors: Should You Buy BCE Inc. or Shaw Communications Inc.?” on November 27, 2017. More interesting news about BCE Inc. (NYSE:BCE) were released by: Investorplace.com and their article: “Pay Less for Inflation-Beating Gains With BCE Inc. (USA)” published on December 06, 2017 as well as Fool.ca‘s news article titled: “BCE Inc.: Why Now May Be a Wise Time to Take Profits Off the Table” with publication date: November 08, 2017.

Among 9 analysts covering BCE Inc. (NYSE:BCE), 5 have Buy rating, 1 Sell and 3 Hold. Therefore 56% are positive. BCE Inc. has $63 highest and $43 lowest target. $55.17’s average target is 14.44% above currents $48.21 stock price. BCE Inc. had 22 analyst reports since August 4, 2015 according to SRatingsIntel. The rating was maintained by Barclays Capital on Tuesday, March 21 with “Overweight”. The firm has “Underperform” rating given on Tuesday, October 27 by Macquarie Research. The firm has “Best Ideas List” rating by RBC Capital Markets given on Friday, October 16. The rating was downgraded by Citigroup on Thursday, May 26 to “Neutral”. The stock of BCE Inc. (NYSE:BCE) has “Sector Perform” rating given on Monday, January 9 by RBC Capital Markets. The stock of BCE Inc. (NYSE:BCE) earned “Neutral” rating by Credit Suisse on Monday, January 4. The stock has “Neutral” rating by Citigroup on Tuesday, July 19. The rating was maintained by National Bank Canada on Friday, November 6 with “Sector Perform”. Citigroup upgraded the stock to “Buy” rating in Thursday, April 6 report. The firm earned “Buy” rating on Friday, December 4 by Goldman Sachs.

Among 3 analysts covering Argan (NYSE:AGX), 0 have Buy rating, 1 Sell and 2 Hold. Therefore 0 are positive. Argan had 4 analyst reports since October 16, 2015 according to SRatingsIntel. The firm has “Not Rated” rating by Wm Smith given on Friday, October 16. The rating was downgraded by Lake Street to “Hold” on Thursday, December 7. The stock has “Buy” rating by Lake Street on Thursday, June 9. The rating was downgraded by Avondale on Thursday, December 8 to “Mkt Perform”.

Another recent and important Argan, Inc. (NYSE:AGX) news was published by Businesswire.com which published an article titled: “Argan, Inc. Reports Third Quarter Results” on December 06, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.