Boothe Investment Group Inc. purchased a new position in shares of Centurylink Inc (NYSE:CTL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,838 shares of the technology company’s stock, valued at approximately $407,000. Centurylink makes up 0.4% of Boothe Investment Group Inc.’s holdings, making the stock its 22nd biggest holding.
A number of other large investors also recently modified their holdings of the stock. Swiss National Bank grew its position in Centurylink by 3.1% during the second quarter. Swiss National Bank now owns 3,183,134 shares of the technology company’s stock worth $59,334,000 after buying an additional 96,300 shares in the last quarter. Kwmg LLC grew its position in Centurylink by 8.8% during the second quarter. Kwmg LLC now owns 94,304 shares of the technology company’s stock worth $1,758,000 after buying an additional 7,666 shares in the last quarter. Tredje AP fonden grew its position in Centurylink by 452.1% during the second quarter. Tredje AP fonden now owns 303,221 shares of the technology company’s stock worth $5,652,000 after buying an additional 248,301 shares in the last quarter. Madison Investment Holdings Inc. acquired a new stake in Centurylink during the second quarter worth approximately $24,058,000. Finally, US Bancorp DE grew its position in Centurylink by 16.0% during the second quarter. US Bancorp DE now owns 98,624 shares of the technology company’s stock worth $1,838,000 after buying an additional 13,583 shares in the last quarter. 78.42% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Glen F. Post III sold 150,000 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is currently owned by corporate insiders.
Several equities research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Centurylink to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, August 16th. Morgan Stanley upped their target price on Centurylink from $21.60 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 15th. ValuEngine upgraded Centurylink from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Barclays restated a “hold” rating and set a $21.00 target price on shares of Centurylink in a research note on Friday, August 10th. Finally, Zacks Investment Research upgraded Centurylink from a “sell” rating to a “hold” rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. Centurylink has an average rating of “Hold” and a consensus price target of $21.20.
Shares of CTL opened at $23.86 on Tuesday. Centurylink Inc has a 52 week low of $13.16 and a 52 week high of $23.90. The firm has a market capitalization of $25.36 billion, a PE ratio of 16.23, a PEG ratio of -14.74 and a beta of 0.80. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.98 and a quick ratio of 0.98.
Centurylink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The company had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same period in the prior year, the company earned $0.46 EPS. Centurylink’s revenue was up 44.3% compared to the same quarter last year. analysts expect that Centurylink Inc will post 1.06 EPS for the current year.
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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