HGK Asset Management Inc. decreased its holdings in shares of Centurylink Inc (NYSE:CTL) by 32.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 599,626 shares of the technology company’s stock after selling 283,018 shares during the period. Centurylink accounts for about 2.1% of HGK Asset Management Inc.’s holdings, making the stock its 7th largest holding. HGK Asset Management Inc.’s holdings in Centurylink were worth $11,177,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. raised its position in Centurylink by 16,940.6% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock valued at $102,000 after purchasing an additional 5,421 shares during the last quarter. Ballew Advisors Inc bought a new position in shares of Centurylink in the 1st quarter worth approximately $101,000. AdvisorNet Financial Inc raised its position in shares of Centurylink by 118.4% in the 2nd quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock worth $120,000 after acquiring an additional 3,482 shares in the last quarter. Archford Capital Strategies LLC bought a new position in shares of Centurylink in the 1st quarter worth approximately $130,000. Finally, Bedel Financial Consulting Inc. bought a new position in shares of Centurylink in the 1st quarter worth approximately $136,000. 79.14% of the stock is owned by institutional investors and hedge funds.
Centurylink stock opened at $23.48 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.60. The company has a market capitalization of $23.09 billion, a P/E ratio of 15.97, a P/E/G ratio of -14.32 and a beta of 0.80. Centurylink Inc has a twelve month low of $13.16 and a twelve month high of $23.78.
Centurylink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.03. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.92 billion. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The firm’s quarterly revenue was up 44.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.46 EPS. analysts expect that Centurylink Inc will post 1 EPS for the current fiscal year.
Several research analysts have recently issued reports on the company. Zacks Investment Research raised Centurylink from a “sell” rating to a “hold” rating in a research report on Friday, August 10th. Morgan Stanley increased their target price on Centurylink from $21.60 to $25.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 15th. ValuEngine lowered Centurylink from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Jefferies Financial Group raised Centurylink from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Finally, Macquarie lowered Centurylink from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $27.61 to $18.00 in a research report on Wednesday, May 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $21.20.
In related news, Director Glen F. Post III sold 150,000 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $22.00, for a total value of $3,300,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.60% of the company’s stock.
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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