First Midwest Bank Trust Division increased its position in CenturyLink Inc. (NYSE:CTL) by 92.3% during the second quarter, Holdings Channel reports. The fund owned 18,115 shares of the company’s stock after buying an additional 8,693 shares during the period. First Midwest Bank Trust Division’s holdings in CenturyLink were worth $525,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. PGGM Investments raised its position in shares of CenturyLink by 10.0% in the second quarter. PGGM Investments now owns 1,462,121 shares of the company’s stock worth $42,416,000 after buying an additional 132,536 shares during the last quarter. Panagora Asset Management Inc. raised its position in shares of 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. Springbok Capital Management LLC bought a new position in shares of CenturyLink during the first quarter worth $340,000. State Street Corp raised its position in shares of 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. Finally, Shell Asset Management Co. raised its position in shares of CenturyLink by 23.5% in the second quarter. Shell Asset Management Co. now owns 95,313 shares of the company’s stock worth $2,765,000 after buying an additional 18,135 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.
Shares of CenturyLink Inc. (NYSE:CTL) traded down 0.18% on Wednesday, reaching $27.03. 4,826,467 shares of the company were exchanged. The company’s 50 day moving average is $27.92 and its 200 day moving average is $29.25. CenturyLink Inc. has a 12-month low of $21.94 and a 12-month high of $32.94. The firm has a market capitalization of $14.76 billion, a PE ratio of 15.13 and a beta of 0.80.
CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 business’s quarterly revenue was down .5% on a year-over-year basis. During the same period last year, the company posted $0.55 earnings per share. Analysts forecast that CenturyLink Inc. will post $2.53 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 7.99%. The ex-dividend date of this dividend was Wednesday, August 31st. CenturyLink’s dividend payout ratio is currently 120.67%.
CTL has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of CenturyLink from a “hold” rating to a “sell” rating in a research note on Tuesday. Vetr raised shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 target price for the company in a research note on Wednesday, August 31st. Macquarie initiated coverage on shares of CenturyLink in a research note on Monday, July 11th. They issued a “neutral” rating and a $31.00 target price for the company. Jefferies Group reissued a “sell” rating on shares of CenturyLink in a research report on Friday, September 2nd. Finally, Evercore ISI initiated coverage on shares of CenturyLink in a research report on Tuesday, June 21st. They set a “hold” rating and a $28.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $28.37.
In other news, Director Harvey P. Perry sold 20,000 shares of CenturyLink stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $31.00, for a total transaction of $620,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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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