Commerce Bank increased its position in shares of Centurylink Inc (NYSE:CTL) by 9.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,691 shares of the technology company’s stock after buying an additional 1,717 shares during the period. Commerce Bank’s holdings in Centurylink were worth $464,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wedbush Securities Inc. bought a new position in Centurylink during the first quarter worth about $209,000. Parkwood LLC raised its position in Centurylink by 26.0% in the first quarter. Parkwood LLC now owns 53,087 shares of the technology company’s stock worth $1,251,000 after buying an additional 10,949 shares during the period. Flippin Bruce & Porter Inc. raised its position in Centurylink by 20.2% in the first quarter. Flippin Bruce & Porter Inc. now owns 234,620 shares of the technology company’s stock worth $5,530,000 after buying an additional 39,425 shares during the period. TD Asset Management Inc. raised its position in Centurylink by 8.5% in the first quarter. TD Asset Management Inc. now owns 2,657,214 shares of the technology company’s stock worth $62,630,000 after buying an additional 207,506 shares during the period. Finally, Sei Investments Co. raised its position in Centurylink by 104.2% in the first quarter. Sei Investments Co. now owns 89,089 shares of the technology company’s stock worth $2,100,000 after buying an additional 45,453 shares during the period. Hedge funds and other institutional investors own 73.98% of the company’s stock.
Centurylink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, May 3rd. The technology company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by $0.01. The firm had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $4.27 billion. Centurylink had a net margin of 3.58% and a return on equity of 9.58%. The business’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 earnings per share.
A number of research firms recently issued reports on CTL. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of Centurylink in a report on Monday. Bank of America Corp reiterated a “buy” rating on shares of Centurylink in a report on Tuesday, May 9th. Vetr upgraded Centurylink from a “buy” rating to a “strong-buy” rating and set a $27.12 target price for the company in a report on Monday, May 8th. Zacks Investment Research lowered Centurylink from a “buy” rating to a “hold” rating in a report on Friday, May 5th. Finally, Jefferies Group LLC decreased their price target on Centurylink from $26.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $26.70.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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