Tokio Marine Asset Management Co. Ltd. decreased its position in CenturyLink Inc. (NYSE:CTL) by 9.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,248 shares of the company’s stock after selling 1,855 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in CenturyLink were worth $500,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of CTL. BB&T Securities LLC boosted its stake in shares of CenturyLink by 4.6% in the first quarter. BB&T Securities LLC now owns 38,970 shares of the company’s stock worth $1,245,000 after buying an additional 1,722 shares during the period. OMERS ADMINISTRATION Corp bought a new stake in shares of CenturyLink during the first quarter worth $5,363,000. Canada Pension Plan Investment Board boosted its stake in shares of CenturyLink by 85.2% in the first quarter. Canada Pension Plan Investment Board now owns 71,950 shares of the company’s stock worth $2,300,000 after buying an additional 33,094 shares during the period. Carnick & Kubik LLC boosted its stake in shares of CenturyLink by 4.1% in the first quarter. Carnick & Kubik LLC now owns 40,700 shares of the company’s stock worth $1,301,000 after buying an additional 1,595 shares during the period. Finally, Aviva PLC boosted its stake in shares of CenturyLink by 0.6% in the first quarter. Aviva PLC now owns 276,757 shares of the company’s stock worth $8,845,000 after buying an additional 1,587 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.
CenturyLink Inc. (NYSE:CTL) traded up 2.93% during mid-day trading on Friday, reaching $27.76. The company had a trading volume of 13,519,671 shares. The firm’s 50 day moving average price is $27.81 and its 200-day moving average price is $29.21. CenturyLink Inc. has a 12 month low of $21.94 and a 12 month high of $32.94. The company has a market capitalization of $15.16 billion, a price-to-earnings ratio of 15.54 and a beta of 0.80.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, topping 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 analysts’ expectations of $4.39 billion. During the same period in the previous year, the firm posted $0.55 EPS. CenturyLink’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts anticipate that CenturyLink Inc. will post $2.53 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 16th. Investors 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 annualized dividend and a yield of 7.78%. CenturyLink’s payout ratio is 120.67%.
A number of research firms have commented on CTL. Morgan Stanley cut CenturyLink from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $31.00 to $27.00 in a research note on Monday, July 18th. Vetr upgraded CenturyLink from a “sell” rating to a “hold” rating and set a $29.67 price target for the company in a research note on Tuesday, July 12th. Zacks Investment Research cut CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, August 5th. Macquarie began coverage on CenturyLink in a research note on Monday, July 11th. They issued a “neutral” rating and a $31.00 price target for the company. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $31.00 price target (up from $29.00) on shares of CenturyLink in a research note on Wednesday, August 10th. Three research 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 stock presently has an average rating of “Hold” and an average target price of $28.37.
In related news, Director Harvey P. Perry sold 20,000 shares of the business’s stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $31.00, for a total transaction of $620,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate 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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