Lucus Advisors LLC reduced its position in shares of CenturyLink Inc. (NYSE:CTL) by 26.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,051 shares of the company’s stock after selling 4,371 shares during the period. Lucus Advisors LLC’s holdings in CenturyLink were worth $350,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Institutional Trust Company N.A. raised its position 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 position 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. BlackRock Group LTD raised its position in CenturyLink by 11.9% in the first quarter. BlackRock Group LTD now owns 5,379,934 shares of the company’s stock worth $171,944,000 after buying an additional 572,227 shares during the period. Prudential Financial Inc. raised its position in CenturyLink by 1.6% in the first quarter. Prudential Financial Inc. now owns 1,305,705 shares of the company’s stock worth $41,730,000 after buying an additional 20,900 shares during the period. Finally, Stratos Wealth Partners LTD. raised its position in CenturyLink by 17.3% in the first quarter. Stratos Wealth Partners LTD. now owns 22,160 shares of the company’s stock worth $708,000 after buying an additional 3,266 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.
CenturyLink Inc. (NYSE:CTL) traded down 0.33% during mid-day trading on Friday, hitting $27.43. The company had a trading volume of 3,363,364 shares. CenturyLink Inc. has a 52-week low of $21.94 and a 52-week high of $32.94. The company has a 50-day moving average price of $28.14 and a 200 day moving average price of $29.36. The company has a market capitalization of $14.98 billion, a P/E ratio of 15.36 and a beta of 0.80.
CenturyLink (NYSE:CTL) last posted its quarterly earnings data 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. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. The firm earned $440 billion during the quarter, compared to the consensus estimate of $4.39 billion. During the same period in the prior year, the company earned $0.55 EPS. The firm’s revenue was down .5% compared to the same quarter last year. On average, analysts forecast that CenturyLink Inc. will post $2.53 EPS for the current fiscal 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 dividend on an annualized basis and a dividend yield of 7.87%. The ex-dividend date of this dividend was Wednesday, August 31st. CenturyLink’s dividend payout ratio (DPR) is presently 120.67%.
A number of research firms recently weighed in on CTL. Morgan Stanley lowered shares of CenturyLink from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $31.00 to $27.00 in a report on Monday, July 18th. Vetr raised shares of CenturyLink from a “sell” rating to a “hold” rating and set a $29.67 price objective for the company in a research note on Tuesday, July 12th. Zacks Investment Research lowered shares of CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Macquarie assumed coverage on shares of CenturyLink in a research note on Monday, July 11th. They set a “neutral” rating and a $31.00 price objective for the company. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $31.00 price objective (up from $29.00) on shares of CenturyLink in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $28.37.
In other CenturyLink news, Director Harvey P. Perry sold 20,000 shares of the firm’s stock in a transaction on Wednesday, July 13th. The stock was 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 available through the SEC website. 0.61% of the stock is owned by company 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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