Louisiana State Employees Retirement System reduced its position in shares of CenturyLink Inc. (NYSE:CTL) by 1.6% during the second quarter, Holdings Channel reports. The institutional investor owned 35,800 shares of the company’s stock after selling 600 shares during the period. Louisiana State Employees Retirement System’s holdings in CenturyLink were worth $1,039,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Glenmede Trust Co. NA increased its position in shares of CenturyLink by 53.1% in the first quarter. Glenmede Trust Co. NA now owns 123,060 shares of the company’s stock worth $3,931,000 after buying an additional 42,658 shares in the last quarter. Aperio Group LLC boosted its stake in CenturyLink by 6.3% in the first quarter. Aperio Group LLC now owns 239,718 shares of the company’s stock worth $7,661,000 after buying an additional 14,256 shares during the last quarter. Virginia Retirement System acquired a new stake in CenturyLink during the first quarter worth $4,327,000. CIBC World Markets Inc. acquired a new stake in CenturyLink during the first quarter worth $1,552,000. Finally, TIAA CREF Investment Management LLC boosted its stake in CenturyLink by 20.4% in the first quarter. TIAA CREF Investment Management LLC now owns 3,518,867 shares of the company’s stock worth $112,463,000 after buying an additional 597,026 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.
CenturyLink Inc. (NYSE:CTL) traded down 0.33% during trading on Friday, hitting $27.43. The company’s stock had a trading volume of 3,363,364 shares. CenturyLink Inc. has a one year low of $21.94 and a one year high of $32.94. The company has a 50-day moving average of $28.14 and a 200 day moving average of $29.36. The firm has a market cap of $14.98 billion, a PE 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $440 billion for the quarter, compared to analyst estimates of $4.39 billion. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. The company’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.55 earnings per share. On average, equities analysts forecast 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. Investors of record on Friday, September 2nd were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a 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%.
CTL has been the subject of a number of recent analyst reports. Evercore ISI initiated coverage on CenturyLink in a research report on Tuesday, June 21st. They issued a “hold” rating and a $28.00 price objective for the company. Vetr raised CenturyLink from a “strong sell” rating to a “hold” rating and set a $29.00 price objective for the company in a research report on Wednesday, July 6th. Macquarie initiated coverage on CenturyLink in a research report on Monday, July 11th. They issued a “neutral” rating and a $31.00 price objective for the company. Morgan Stanley cut CenturyLink from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $31.00 to $27.00 in a research report on Monday, July 18th. Finally, Zacks Investment Research cut CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, August 5th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $28.37.
In related news, Director Harvey P. Perry sold 20,000 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.61% of the stock is 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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