Gateway Investment Advisers LLC trimmed its position in Centurylink Inc (NYSE:CTL) by 13.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,463 shares of the technology company’s stock after selling 13,566 shares during the period. Gateway Investment Advisers LLC’s holdings in Centurylink were worth $1,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in Centurylink by 0.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 20,939,352 shares of the technology company’s stock worth $443,913,000 after purchasing an additional 101,260 shares during the period. Dimensional Fund Advisors LP grew its position in Centurylink by 12.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 14,763,545 shares of the technology company’s stock worth $223,688,000 after purchasing an additional 1,587,647 shares during the period. Geode Capital Management LLC grew its position in Centurylink by 9.2% during the 4th quarter. Geode Capital Management LLC now owns 13,305,449 shares of the technology company’s stock worth $201,523,000 after purchasing an additional 1,119,125 shares during the period. Northern Trust Corp grew its position in Centurylink by 3.0% during the 4th quarter. Northern Trust Corp now owns 10,864,473 shares of the technology company’s stock worth $164,598,000 after purchasing an additional 313,255 shares during the period. Finally, Norges Bank acquired a new stake in Centurylink during the 4th quarter worth about $120,981,000. 76.05% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have weighed in on the company. Zacks Investment Research downgraded Centurylink from a “buy” rating to a “hold” rating in a research report on Tuesday. Edward Jones downgraded Centurylink to a “sell” rating in a research report on Tuesday, March 5th. Bank of America downgraded Centurylink from a “buy” rating to a “neutral” rating and set a $14.00 price target on the stock. in a research report on Tuesday, February 26th. Royal Bank of Canada downgraded Centurylink from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $24.00 to $15.00 in a research report on Wednesday, February 20th. Finally, Moffett Nathanson raised Centurylink from a “sell” rating to a “neutral” rating and cut their price target for the stock from $16.00 to $12.00 in a research report on Tuesday, February 19th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $16.75.
In other news, Director Steven T. Clontz bought 8,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average cost of $11.95 per share, with a total value of $95,600.00. Following the purchase, the director now directly owns 202,334 shares in the company, valued at approximately $2,417,891.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Indraneel Dev bought 50,000 shares of the stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average cost of $11.75 per share, for a total transaction of $587,500.00. Following the completion of the purchase, the chief financial officer now owns 459,153 shares in the company, valued at $5,395,047.75. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 143,000 shares of company stock worth $1,698,720. Corporate insiders own 0.60% of the company’s stock.
CTL stock opened at $12.25 on Wednesday. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.69 and a current ratio of 0.69. Centurylink Inc has a 52-week low of $11.52 and a 52-week high of $24.20. The stock has a market cap of $13.05 billion, a PE ratio of 10.14, a PEG ratio of 0.76 and a beta of 0.77.
Centurylink (NYSE:CTL) last posted its earnings results on Wednesday, February 13th. The technology company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Centurylink had a negative net margin of 7.39% and a positive return on equity of 5.68%. The business had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.78 billion. During the same period in the prior year, the company posted $0.18 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Sell-side analysts forecast that Centurylink Inc will post 1.24 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Tuesday, March 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.16%. The ex-dividend date of this dividend was Monday, March 11th. Centurylink’s payout ratio is currently 84.03%.
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CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.
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