Strs Ohio increased its position in shares of CenturyLink Inc. (NYSE:CTL) by 6.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,825 shares of the company’s stock after buying an additional 2,156 shares during the period. Strs Ohio’s holdings in CenturyLink were worth $981,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in CTL. State Street Corp raised its position in CenturyLink by 0.6% in the first quarter. State Street Corp now owns 30,716,866 shares of the company’s stock worth $981,706,000 after buying an additional 171,326 shares during the last quarter. Geode Capital Management LLC raised its position in CenturyLink by 1.7% in the first quarter. Geode Capital Management LLC now owns 5,142,542 shares of the company’s stock worth $164,069,000 after buying an additional 87,735 shares during the last quarter. Legal & General Group Plc raised its position in CenturyLink by 2.4% in the first quarter. Legal & General Group Plc now owns 3,221,967 shares of the company’s stock worth $102,996,000 after buying an additional 73,986 shares during 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 worth $80,272,000 after buying an additional 610,495 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. raised its position in CenturyLink by 57.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 2,355,625 shares of the company’s stock worth $68,336,000 after buying an additional 857,345 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
CenturyLink Inc. (NYSE:CTL) traded down 0.18% during trading on Friday, reaching $27.34. 2,003,263 shares of the company’s stock traded hands. CenturyLink Inc. has a 1-year low of $21.94 and a 1-year high of $32.94. The stock has a market capitalization of $14.93 billion, a P/E ratio of 15.31 and a beta of 0.80. The stock has a 50-day moving average price of $27.60 and a 200 day moving average price of $29.09.
CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. The company had revenue of $440 billion for the quarter, compared to the consensus estimate of $4.39 billion. CenturyLink had a net margin of 5.47% and a return on equity of 11.02%. CenturyLink’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm posted $0.55 earnings per share. Equities research analysts expect that CenturyLink Inc. will post $2.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 7.90%. The ex-dividend date of this dividend was Wednesday, August 31st. CenturyLink’s dividend payout ratio is presently 120.67%.
CTL has been the topic of a number of analyst reports. Evercore ISI initiated coverage on CenturyLink in a research report on Tuesday, June 21st. They set a “hold” rating and a $28.00 target price on the stock. Vetr upgraded CenturyLink from a “sell” rating to a “hold” rating and set a $29.00 target price on the stock in a research report on Tuesday, August 16th. Royal Bank Of Canada raised their target price on CenturyLink from $29.00 to $31.00 and gave the company a “sector perform” rating in a research report on Monday, August 8th. Zacks Investment Research upgraded CenturyLink from a “sell” rating to a “hold” rating in a research report on Thursday. Finally, Morgan Stanley cut CenturyLink from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $31.00 to $27.00 in a research report on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $28.44.
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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