Conning Inc. reduced its stake in CenturyLink Inc. (NYSE:CTL) by 3.8% during the second quarter, according to its most recent filing with the SEC. The fund owned 15,549 shares of the company’s stock after selling 609 shares during the period. Conning Inc.’s holdings in CenturyLink were worth $451,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of CTL. Acrospire Investment Management LLC bought a new position in shares of CenturyLink during the first quarter worth $109,000. Bessemer Group Inc. boosted its position in shares of CenturyLink by 44.5% in the first quarter. Bessemer Group Inc. now owns 3,450 shares of the company’s stock worth $110,000 after buying an additional 1,062 shares in the last quarter. Washington Trust Bank boosted its position in shares of CenturyLink by 13.8% in the second quarter. Washington Trust Bank now owns 4,597 shares of the company’s stock worth $133,000 after buying an additional 558 shares in the last quarter. Monetary Management Group Inc. boosted its position in shares of CenturyLink by 4.0% in the first quarter. Monetary Management Group Inc. now owns 6,500 shares of the company’s stock worth $208,000 after buying an additional 250 shares in the last quarter. Finally, Magnetar Financial LLC bought a new position in shares of CenturyLink during the first quarter worth $221,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.
CenturyLink Inc. (NYSE:CTL) traded down 0.33% during midday trading on Friday, reaching $27.43. The company had a trading volume of 3,363,364 shares. The company has a market cap of $14.98 billion, a PE ratio of 15.36 and a beta of 0.80. CenturyLink Inc. has a 52-week low of $21.94 and a 52-week high of $32.94. The company’s 50-day moving average is $28.14 and its 200 day moving average is $29.36.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. The firm had revenue of $440 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. On average, equities research analysts forecast that CenturyLink Inc. will post $2.53 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 7.87%. The ex-dividend date was Wednesday, August 31st. CenturyLink’s payout ratio is 120.67%.
CTL has been the topic of several research analyst reports. Macquarie reaffirmed a “neutral” rating and set a $30.00 target price (down previously from $31.00) on shares of CenturyLink in a research note on Tuesday, September 13th. Jefferies Group reaffirmed a “sell” rating on shares of CenturyLink in a research note on Friday, September 2nd. Vetr raised CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 target price on the stock in a research note on Wednesday, August 31st. RBC Capital Markets reaffirmed a “sector perform” rating and set a $31.00 target price (up previously from $29.00) on shares of CenturyLink in a research note on Wednesday, August 10th. Finally, Royal Bank Of Canada lifted their target price on CenturyLink from $29.00 to $31.00 and gave the company a “sector perform” rating in a research note on Monday, August 8th. Two investment 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. CenturyLink presently has an average rating of “Hold” and an average target price of $28.37.
In other CenturyLink news, Director Harvey P. Perry sold 20,000 shares of the stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $31.00, for a total value of $620,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is owned by company insiders.
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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