DNB Asset Management AS lowered its holdings in Centurylink Inc (NYSE:CTL) by 11.5% during the 1st quarter, HoldingsChannel reports. The fund owned 165,586 shares of the technology company’s stock after selling 21,541 shares during the quarter. DNB Asset Management AS’s holdings in Centurylink were worth $1,985,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Legacy Advisors LLC purchased a new stake in shares of Centurylink in the 1st quarter valued at about $25,000. Signet Investment Advisory Group Inc. purchased a new stake in shares of Centurylink in the 4th quarter valued at about $34,000. Doyle Wealth Management purchased a new stake in shares of Centurylink in the 4th quarter valued at about $35,000. Pearl River Capital LLC purchased a new stake in shares of Centurylink in the 4th quarter valued at about $42,000. Finally, IMS Capital Management purchased a new stake in shares of Centurylink in the 3rd quarter valued at about $68,000. 76.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Centurylink 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. The company has a market capitalization of $13.05 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 0.76 and a beta of 0.77. Centurylink Inc has a one year low of $11.52 and a one year high of $24.20.
Centurylink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, February 13th. The technology company reported $0.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.36 by $0.01. The firm had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.78 billion. Centurylink had a positive return on equity of 5.68% and a negative net margin of 7.39%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $0.18 EPS. As a group, equities analysts expect that Centurylink Inc will post 1.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Tuesday, March 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 11th. This represents a $1.00 annualized dividend and a dividend yield of 8.16%. Centurylink’s dividend payout ratio is presently 84.03%.
In other news, Director Steven T. Clontz purchased 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were bought at an average cost of $11.95 per share, for a total transaction of $95,600.00. Following the completion of the transaction, the director now directly owns 202,334 shares of the company’s stock, valued at approximately $2,417,891.30. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Indraneel Dev purchased 50,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 6th. The shares were purchased at an average price of $11.75 per share, for a total transaction of $587,500.00. Following the completion of the transaction, the chief financial officer now directly owns 459,153 shares of the company’s stock, valued at $5,395,047.75. The disclosure for this purchase can be found here. Insiders have purchased 143,000 shares of company stock worth $1,698,720 over the last 90 days. 0.60% of the stock is currently owned by corporate insiders.
CTL has been the topic of a number of research reports. Zacks Investment Research raised Centurylink from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Wednesday, March 13th. TheStreet cut Centurylink from a “b-” rating to a “c+” rating in a report on Friday, January 4th. UBS Group cut Centurylink from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $24.00 to $14.00 in a report on Thursday, February 14th. JPMorgan Chase & Co. cut Centurylink from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $27.00 to $14.00 in a report on Thursday, February 14th. Finally, Moffett Nathanson raised Centurylink from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $16.00 to $12.00 in a report on Tuesday, February 19th. Six equities research 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 company presently has an average rating of “Hold” and an average target price of $16.75.
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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