Assenagon Asset Management S.A. Purchases New Holdings in CenturyLink, Inc. (CTL)

Assenagon Asset Management S.A. purchased a new position in CenturyLink, Inc. (NYSE:CTL) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 21,948 shares of the technology company’s stock, valued at approximately $415,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of CenturyLink by 22.6% in the 2nd quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock worth $1,369,547,000 after purchasing an additional 10,583,246 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of CenturyLink by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 9,689,431 shares of the technology company’s stock worth $231,404,000 after purchasing an additional 301,671 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of CenturyLink by 1.4% in the 2nd quarter. Northern Trust Corp now owns 6,978,167 shares of the technology company’s stock worth $166,639,000 after purchasing an additional 95,821 shares during the last quarter. Capital World Investors bought a new stake in shares of CenturyLink in the 2nd quarter worth approximately $142,086,000. Finally, Epoch Investment Partners Inc. lifted its holdings in shares of CenturyLink by 5.2% in the 2nd quarter. Epoch Investment Partners Inc. now owns 4,974,938 shares of the technology company’s stock worth $118,801,000 after purchasing an additional 244,347 shares during the last quarter. 83.28% of the stock is currently owned by institutional investors and hedge funds.

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CTL has been the topic of several recent research reports. Cowen and Company raised their price target on CenturyLink from $25.00 to $27.00 and gave the stock a “market perform” rating in a report on Wednesday, July 5th. BidaskClub downgraded CenturyLink from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. ValuEngine raised CenturyLink from a “hold” rating to a “buy” rating in a report on Friday, August 18th. Morgan Stanley cut their price target on CenturyLink from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, August 23rd. Finally, Zacks Investment Research downgraded CenturyLink from a “hold” rating to a “strong sell” rating in a report on Friday, August 25th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. CenturyLink has an average rating of “Hold” and a consensus price target of $24.94.

Shares of CenturyLink, Inc. (CTL) opened at 17.48 on Friday. CenturyLink, Inc. has a 52 week low of $17.40 and a 52 week high of $30.39. The firm’s 50-day moving average price is $19.14 and its 200 day moving average price is $22.51. The company has a market cap of $9.61 billion, a P/E ratio of 25.33 and a beta of 0.89.

CenturyLink (NYSE:CTL) last announced its earnings results on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.03). The business had revenue of $4.09 billion during the quarter, compared to analyst estimates of $4.09 billion. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The firm’s revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. On average, equities analysts predict that CenturyLink, Inc. will post $1.93 EPS for the current fiscal year.

CenturyLink Profile

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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Institutional Ownership by Quarter for CenturyLink (NYSE:CTL)

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