Principal Financial Group Inc. increased its position in shares of CenturyLink Inc. (NYSE:CTL) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 822,853 shares of the company’s stock after buying an additional 1,708 shares during the period. Principal Financial Group Inc. owned approximately 0.15% of CenturyLink worth $23,871,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. State Street Corp raised 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 worth $981,706,000 after buying an additional 171,326 shares during the period. Bank of New York Mellon Corp raised its stake in CenturyLink by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 19,403,203 shares of the company’s stock worth $562,888,000 after buying an additional 474,127 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in CenturyLink by 5.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 15,427,843 shares of the company’s stock worth $493,074,000 after buying an additional 792,193 shares during the period. BlackRock Fund Advisors raised its stake in CenturyLink by 1.2% in the first quarter. BlackRock Fund Advisors now owns 14,794,988 shares of the company’s stock worth $472,848,000 after buying an additional 171,723 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in CenturyLink by 25.3% in the second quarter. Dimensional Fund Advisors LP now owns 9,037,670 shares of the company’s stock worth $262,156,000 after buying an additional 1,823,847 shares during the period. Institutional investors and hedge funds own 73.33% of the company’s stock.
Shares of CenturyLink Inc. (NYSE:CTL) traded up 0.33% during mid-day trading on Thursday, hitting $27.64. The stock had a trading volume of 424,045 shares. CenturyLink Inc. has a 12-month low of $21.94 and a 12-month high of $32.94. The stock has a market cap of $15.09 billion, a P/E ratio of 15.48 and a beta of 0.80. The company’s 50 day moving average price is $28.31 and its 200 day moving average price is $29.41.
CenturyLink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, beating the Thomson Reuters’ 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 net margin of 5.47% and a return on equity of 11.02%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. Equities research analysts predict that CenturyLink Inc. will post $2.53 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were given a $0.54 dividend. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $2.16 annualized dividend and a dividend yield of 7.84%. CenturyLink’s dividend payout ratio (DPR) is presently 120.67%.
A number of equities research analysts have recently issued reports on CTL shares. Evercore ISI started coverage on CenturyLink in a research report on Tuesday, June 21st. They issued a “hold” rating and a $28.00 price target for the company. Vetr upgraded CenturyLink from a “sell” rating to a “hold” rating and set a $29.00 price target for the company in a research report on Tuesday, August 16th. Royal Bank Of Canada upped their price objective on CenturyLink from $29.00 to $31.00 and gave the company a “sector perform” rating in a report on Monday, August 8th. Zacks Investment Research cut CenturyLink from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, Morgan Stanley cut CenturyLink from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $31.00 to $27.00 in a report on Monday, July 18th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. CenturyLink presently has a consensus rating of “Hold” and an average 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 value of $620,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.61% of the stock is currently owned by corporate insiders.
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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