Algert Global LLC reduced its stake in shares of CenturyLink Inc. (NYSE:CTL) by 35.6% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,557 shares of the company’s stock after selling 24,036 shares during the period. Algert Global LLC’s holdings in CenturyLink were worth $1,195,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in CTL. Los Angeles Capital Management & Equity Research Inc. boosted its stake in CenturyLink by 26.5% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,372,419 shares of the company’s stock valued at $39,814,000 after buying an additional 287,685 shares during the period. PGGM Investments raised its position in CenturyLink by 10.0% in the second quarter. PGGM Investments now owns 1,462,121 shares of the company’s stock valued at $42,416,000 after buying an additional 132,536 shares in the last quarter. Hancock Holding Co. raised its position in CenturyLink by 6.3% in the second quarter. Hancock Holding Co. now owns 28,987 shares of the company’s stock valued at $841,000 after buying an additional 1,714 shares in the last quarter. Panagora Asset Management Inc. raised its position in CenturyLink by 32.1% in the first quarter. Panagora Asset Management Inc. now owns 2,511,649 shares of the company’s stock valued at $80,272,000 after buying an additional 610,495 shares in the last quarter. Finally, Springbok Capital Management LLC bought a new position in CenturyLink during the first quarter valued at about $340,000. 73.33% of the stock is owned by institutional investors.
Shares of CenturyLink Inc. (NYSE:CTL) opened at 27.34 on Friday. CenturyLink Inc. has a one year low of $21.94 and a one year high of $32.94. The stock has a 50 day moving average price of $27.60 and a 200-day moving average price of $29.09. The company has a market capitalization of $14.93 billion, a price-to-earnings ratio of 15.31 and a beta of 0.80.
CenturyLink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. The business earned $440 billion during the quarter, compared to the consensus estimate of $4.39 billion. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. CenturyLink’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.55 earnings per share. On average, equities research analysts expect that CenturyLink Inc. will post $2.53 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a $0.54 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $2.16 dividend on an annualized basis and a yield of 7.90%. CenturyLink’s payout ratio is 120.67%.
Several research analysts have recently issued reports on the company. Royal Bank Of Canada raised their price target on CenturyLink from $29.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Monday, August 8th. Vetr upgraded CenturyLink from a “sell” rating to a “hold” rating and set a $29.00 price target on the stock in a research report on Monday, August 8th. Macquarie restated a “neutral” rating and issued a $30.00 price target (down from $31.00) on shares of CenturyLink in a research report on Tuesday, September 13th. Zacks Investment Research lowered CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Finally, Morgan Stanley lowered CenturyLink from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $31.00 to $27.00 in a research report on Monday, July 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the stock. CenturyLink has a consensus rating of “Hold” and a consensus target price of $28.44.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to residential and business customers. The Company’s segments include Business and Consumer. Its communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services.
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