361 Capital LLC acquired a new position in CenturyLink, Inc. (NYSE:CTL) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 62,986 shares of the technology company’s stock, valued at approximately $1,504,000.
A number of other hedge funds have also modified their holdings of the stock. Eaton Vance Management lifted its position in CenturyLink by 0.5% in the second quarter. Eaton Vance Management now owns 12,640 shares of the technology company’s stock worth $302,000 after purchasing an additional 57 shares during the period. Cleararc Capital Inc. lifted its position in CenturyLink by 0.7% in the first quarter. Cleararc Capital Inc. now owns 13,386 shares of the technology company’s stock worth $316,000 after purchasing an additional 93 shares during the period. Wellington Shields & Co. LLC lifted its position in CenturyLink by 1.1% in the second quarter. Wellington Shields & Co. LLC now owns 9,202 shares of the technology company’s stock worth $220,000 after purchasing an additional 99 shares during the period. FTB Advisors Inc. lifted its position in CenturyLink by 0.9% in the second quarter. FTB Advisors Inc. now owns 12,348 shares of the technology company’s stock worth $268,000 after purchasing an additional 116 shares during the period. Finally, First Manhattan Co. lifted its position in CenturyLink by 0.3% in the second quarter. First Manhattan Co. now owns 37,199 shares of the technology company’s stock worth $888,000 after purchasing an additional 126 shares during the period. 83.04% of the stock is owned by institutional investors and hedge funds.
Shares of CenturyLink, Inc. (NYSE CTL) traded down 0.34% during midday trading on Wednesday, hitting $20.25. The stock had a trading volume of 1,878,750 shares. CenturyLink, Inc. has a 52 week low of $18.17 and a 52 week high of $33.45. The stock has a 50-day moving average of $19.44 and a 200 day moving average of $22.93. The stock has a market cap of $11.13 billion, a PE ratio of 29.35 and a beta of 0.89.
CenturyLink (NYSE:CTL) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.09 billion. During the same period in the prior year, the firm posted $0.63 EPS. CenturyLink’s revenue was down 7.0% on a year-over-year basis. Analysts anticipate that CenturyLink, Inc. will post $1.94 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 10.63%. The ex-dividend date was Thursday, August 31st. CenturyLink’s dividend payout ratio is presently 313.04%.
A number of research firms have weighed in on CTL. Deutsche Bank AG cut their target price on CenturyLink from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Tuesday. Barclays PLC cut their target price on CenturyLink from $23.00 to $19.00 and set an “underweight” rating for the company in a research report on Wednesday, October 4th. Jefferies Group LLC restated a “hold” rating and issued a $22.00 target price on shares of CenturyLink in a research report on Tuesday, October 3rd. Royal Bank Of Canada restated a “hold” rating and issued a $25.00 target price on shares of CenturyLink in a research report on Monday, September 18th. Finally, ValuEngine downgraded CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Five research analysts have rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $25.15.
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CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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