Great West Life Assurance Co. Can lessened its stake in Centurylink Inc (NYSE:CTL) by 4.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 736,713 shares of the technology company’s stock after selling 37,097 shares during the period. Great West Life Assurance Co. Can’s holdings in Centurylink were worth $13,735,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of CTL. Temasek Holdings Private Ltd grew its position in Centurylink by 13.9% in the 1st quarter. Temasek Holdings Private Ltd now owns 105,861,423 shares of the technology company’s stock worth $1,739,303,000 after purchasing an additional 12,957,184 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Centurylink in the 1st quarter worth approximately $40,751,000. MUFG Securities EMEA plc bought a new stake in Centurylink in the 2nd quarter worth approximately $35,437,000. ACR Alpine Capital Research LLC grew its position in Centurylink by 44.8% in the 1st quarter. ACR Alpine Capital Research LLC now owns 6,122,188 shares of the technology company’s stock worth $100,588,000 after purchasing an additional 1,894,921 shares during the period. Finally, Summit Trail Advisors LLC grew its position in Centurylink by 1,699.3% in the 1st quarter. Summit Trail Advisors LLC now owns 1,830,664 shares of the technology company’s stock worth $1,831,000 after purchasing an additional 1,728,922 shares during the period. 77.05% of the stock is owned by institutional investors and hedge funds.
CTL opened at $21.50 on Wednesday. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.98 and a current ratio of 0.98. Centurylink Inc has a fifty-two week low of $13.16 and a fifty-two week high of $24.20. The firm has a market cap of $23.07 billion, a P/E ratio of 14.63, a PEG ratio of -13.41 and a beta of 0.82.
Centurylink (NYSE:CTL) last released its earnings results on Wednesday, August 8th. The technology company reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Centurylink had a net margin of 7.62% and a return on equity of 4.50%. The company had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter in the previous year, the company earned $0.46 EPS. Centurylink’s revenue for the quarter was up 44.3% on a year-over-year basis. equities analysts expect that Centurylink Inc will post 1.06 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 31st will be paid a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 10.05%. The ex-dividend date of this dividend is Thursday, August 30th. Centurylink’s dividend payout ratio (DPR) is 146.94%.
In related news, Director Glen F. Post III sold 150,000 shares of Centurylink stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $24.00, for a total transaction of $3,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.
CTL has been the subject of a number of research analyst reports. Hanson downgraded shares of Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 target price for the company. in a research report on Wednesday, August 22nd. Moffett Nathanson reissued a “sell” rating and set a $23.00 price objective on shares of Centurylink in a research report on Wednesday, August 22nd. Jefferies Financial Group raised shares of Centurylink from a “hold” rating to a “buy” rating in a research report on Tuesday, June 26th. Bank of America set a $27.00 price objective on shares of Centurylink and gave the company a “buy” rating in a research report on Wednesday, August 8th. Finally, TheStreet raised shares of Centurylink from a “c+” rating to a “b” rating in a research report on Friday, July 6th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $21.18.
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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