Credit Capital Investments LLC purchased a new position in shares of Centurylink Inc (NYSE:CTL) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 105,000 shares of the technology company’s stock, valued at approximately $1,751,000. Centurylink makes up about 1.8% of Credit Capital Investments LLC’s holdings, making the stock its 15th biggest holding.
A number of other large investors have also recently added to or reduced their stakes in CTL. Bessemer Group Inc. grew its stake in Centurylink by 132.3% during the 4th quarter. Bessemer Group Inc. now owns 6,264 shares of the technology company’s stock worth $104,000 after buying an additional 3,568 shares during the last quarter. Citizens Financial Group Inc RI purchased a new position in Centurylink during the 4th quarter worth approximately $111,000. Bronfman E.L. Rothschild L.P. grew its stake in Centurylink by 250.8% during the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 6,753 shares of the technology company’s stock worth $113,000 after buying an additional 4,828 shares during the last quarter. Fieldpoint Private Securities LLC purchased a new position in Centurylink during the 3rd quarter worth approximately $115,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in Centurylink by 10,329.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,196 shares of the technology company’s stock worth $136,000 after buying an additional 7,127 shares during the last quarter. Hedge funds and other institutional investors own 85.59% of the company’s stock.
Shares of Centurylink Inc (NYSE CTL) opened at $17.94 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $19,064.94, a P/E ratio of 11.28, a PEG ratio of -10.35 and a beta of 0.79. Centurylink Inc has a 1-year low of $13.16 and a 1-year high of $27.61.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Monday, March 5th will be issued a $0.54 dividend. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $2.16 annualized dividend and a dividend yield of 12.04%. Centurylink’s dividend payout ratio is currently 122.73%.
CTL has been the topic of a number of research reports. ValuEngine upgraded Centurylink from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st. Cowen set a $19.00 price objective on Centurylink and gave the stock a “hold” rating in a research report on Thursday, February 15th. Royal Bank of Canada raised Centurylink from a “sector perform” rating to an “outperform” rating in a research report on Thursday, January 25th. They noted that the move was a valuation call. Goldman Sachs Group raised Centurylink from a “sell” rating to a “neutral” rating and set a $19.00 price objective for the company in a research report on Monday, January 8th. Finally, Barclays reaffirmed a “hold” rating and set a $17.00 price objective on shares of Centurylink in a research report on Friday, February 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $22.01.
In other Centurylink news, Director Virginia Boulet purchased 5,095 shares of Centurylink stock in a transaction dated Monday, December 11th. The stock was acquired at an average cost of $15.48 per share, with a total value of $78,870.60. Following the acquisition, the director now directly owns 42,820 shares of the company’s stock, valued at $662,853.60. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is owned by company insiders.
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Centurylink Company Profile
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 Enterprise, 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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