Candriam Luxembourg S.C.A. decreased its stake in CenturyLink Inc. (NYSE:CTL) by 18.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 130,635 shares of the company’s stock after selling 29,930 shares during the period. Candriam Luxembourg S.C.A.’s holdings in CenturyLink were worth $3,790,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. PGGM Investments boosted its stake 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 during the period. Panagora Asset Management Inc. boosted its stake 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 during the period. Springbok Capital Management LLC bought a new stake in CenturyLink during the first quarter valued at approximately $340,000. State Street Corp boosted its stake in CenturyLink by 0.6% in the first quarter. State Street Corp now owns 30,716,866 shares of the company’s stock valued at $981,706,000 after buying an additional 171,326 shares during the period. Finally, Teachers Advisors Inc. boosted its stake in CenturyLink by 12.9% in the first quarter. Teachers Advisors Inc. now owns 1,103,361 shares of the company’s stock valued at $35,263,000 after buying an additional 126,165 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CenturyLink Inc. (NYSE:CTL) traded down 0.33% during midday trading on Friday, hitting $27.43. 3,363,364 shares of the company were exchanged. The firm has a market capitalization of $14.98 billion, a price-to-earnings ratio of 15.36 and a beta of 0.80. The firm’s 50 day moving average price is $28.14 and its 200 day moving average price is $29.36. CenturyLink Inc. has a one year low of $21.94 and a one year high of $32.94.
CenturyLink (NYSE:CTL) last released its quarterly earnings data on Wednesday, August 3rd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. The business earned $440 billion during the quarter, compared to analysts’ expectations of $4.39 billion. CenturyLink had a net margin of 5.47% and a return on equity of 11.02%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.55 EPS. Analysts forecast that CenturyLink Inc. will post $2.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 7.87%. The ex-dividend date of this dividend was Wednesday, August 31st. CenturyLink’s dividend payout ratio is 120.67%.
Several research firms have recently commented on CTL. Royal Bank Of Canada increased their price target on shares of CenturyLink from $29.00 to $31.00 and gave the company a “sector perform” rating in a research note on Monday, August 8th. Macquarie reissued a “neutral” rating and set a $30.00 price target (down from $31.00) on shares of CenturyLink in a research note on Tuesday, September 13th. Vetr raised shares of CenturyLink from a “sell” rating to a “hold” rating and set a $29.00 price target on the stock in a research note on Monday, August 8th. Zacks Investment Research cut shares of CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Finally, Morgan Stanley cut shares of CenturyLink from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $31.00 to $27.00 in a research note on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $28.37.
In related news, Director Harvey P. Perry sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 13th. The shares were sold at an average price of $31.00, for a total transaction of $620,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.61% of the company’s stock.
CenturyLink Company Profile
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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