Meadow Creek Investment Management LLC raised its stake in Centurylink Inc (NYSE:CTL) by 4.6% in the second quarter, HoldingsChannel reports. The firm owned 69,720 shares of the technology company’s stock after acquiring an additional 3,080 shares during the quarter. Meadow Creek Investment Management LLC’s holdings in Centurylink were worth $1,300,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Ballew Advisors Inc bought a new position in shares of Centurylink during the 1st quarter worth approximately $101,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of 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 worth $102,000 after acquiring an additional 5,421 shares during the period. AdvisorNet Financial Inc boosted its stake in shares of Centurylink by 118.4% during 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 during the period. Archford Capital Strategies LLC bought a new position in shares of Centurylink during the 1st quarter worth approximately $130,000. Finally, Private Capital Group LLC boosted its stake in shares of Centurylink by 295.1% during the 1st quarter. Private Capital Group LLC now owns 8,783 shares of the technology company’s stock worth $144,000 after acquiring an additional 6,560 shares during the period. Hedge funds and other institutional investors own 77.05% of the company’s stock.
Several analysts recently weighed in on CTL shares. Hanson cut Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 price target for the company. in a report on Wednesday, August 22nd. ValuEngine raised Centurylink from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Zacks Investment Research cut Centurylink from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 24th. Citigroup lifted their price target on Centurylink from $17.00 to $19.00 and gave the stock a “neutral” rating in a report on Thursday, August 9th. Finally, TheStreet raised Centurylink from a “c+” rating to a “b” rating in a report on Friday, July 6th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $21.18.
In other news, Director Glen F. Post III sold 150,000 shares of the business’s stock in a transaction on Tuesday, August 21st. The stock was 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 Securities & Exchange Commission, which is available at the SEC website. 0.60% of the stock is currently owned by insiders.
Centurylink stock opened at $21.50 on Wednesday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.60. Centurylink Inc has a 52 week low of $13.16 and a 52 week high of $24.20. The firm has a market cap of $23.07 billion, a PE ratio of 14.63, a price-to-earnings-growth ratio of -13.41 and a beta of 0.82.
Centurylink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 8th. The technology company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned $0.46 EPS. Centurylink’s revenue was up 44.3% on a year-over-year basis. research analysts forecast that Centurylink Inc will post 1.06 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 31st will be issued a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 10.05%. Centurylink’s dividend payout ratio (DPR) is currently 146.94%.
Centurylink Company Profile
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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