Northpointe Capital LLC reduced its stake in CenturyLink Inc. (NYSE:CTL) by 9.2% during the second quarter, Holdings Channel reports. The firm owned 81,362 shares of the company’s stock after selling 8,285 shares during the period. Northpointe Capital LLC’s holdings in CenturyLink were worth $2,360,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of CTL. Acrospire Investment Management LLC bought a new position in shares of CenturyLink during the first quarter valued at approximately $109,000. Bessemer Group Inc. increased its stake in 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 increased its stake in 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. Prospera Financial Services Inc acquired a new stake in CenturyLink during the second quarter worth $206,000. Finally, Monetary Management Group Inc. increased its stake in 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. Institutional investors and hedge funds own 73.33% of the company’s stock.
CenturyLink Inc. (NYSE:CTL) traded down 0.22% during trading on Thursday, reaching $26.97. 3,531,399 shares of the company’s stock traded hands. The company has a 50 day moving average of $27.92 and a 200 day moving average of $29.25. CenturyLink Inc. has a one year low of $21.94 and a one year high of $32.94. The firm has a market cap of $14.72 billion, a price-to-earnings ratio of 15.10 and a beta of 0.80.
CenturyLink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $440 billion for the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the previous year, the firm earned $0.55 earnings per share. The company’s revenue was down .5% on a year-over-year basis. Equities research analysts predict that CenturyLink Inc. will post $2.53 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a dividend of $0.54 per share. The ex-dividend date was Wednesday, August 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 8.01%. CenturyLink’s payout ratio is 120.67%.
A number of analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of CenturyLink from a “hold” rating to a “sell” rating in a research report on Tuesday. Macquarie reissued a “neutral” rating and set a $30.00 price objective (down from $31.00) on shares of CenturyLink in a research report on Tuesday, September 13th. Jefferies Group reissued a “sell” rating on shares of CenturyLink in a research report on Friday, September 2nd. Vetr raised shares of CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 price objective on the stock in a research report on Wednesday, August 31st. Finally, RBC Capital Markets reissued a “sector perform” rating and set a $31.00 price objective (up from $29.00) on shares of CenturyLink in a research report on Wednesday, August 10th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the stock. CenturyLink currently has an average rating of “Hold” and an average price target of $28.37.
In other news, Director Harvey P. Perry sold 20,000 shares of the business’s stock in a transaction dated Wednesday, July 13th. The stock was sold at an average price of $31.00, for a total transaction of $620,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.
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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