Nippon Life Global Investors Americas Inc. Invests $8.67 Million in CenturyLink, Inc. (CTL)

Nippon Life Global Investors Americas Inc. purchased a new stake in shares of CenturyLink, Inc. (NYSE:CTL) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 458,970 shares of the technology company’s stock, valued at approximately $8,674,000. Nippon Life Global Investors Americas Inc. owned about 0.08% of CenturyLink at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Epoch Investment Partners Inc. lifted its position in CenturyLink by 11.0% in the 3rd quarter. Epoch Investment Partners Inc. now owns 5,521,373 shares of the technology company’s stock worth $104,354,000 after buying an additional 546,435 shares during the last quarter. Private Advisor Group LLC lifted its position in CenturyLink by 18.1% in the 3rd quarter. Private Advisor Group LLC now owns 56,525 shares of the technology company’s stock worth $1,135,000 after buying an additional 8,651 shares during the last quarter. CapWealth Advisors LLC lifted its position in CenturyLink by 18.0% in the 3rd quarter. CapWealth Advisors LLC now owns 319,897 shares of the technology company’s stock worth $6,046,000 after buying an additional 48,840 shares during the last quarter. FDO Partners LLC bought a new stake in CenturyLink in the 3rd quarter worth approximately $1,232,000. Finally, HCR Wealth Advisors lifted its position in CenturyLink by 45.1% in the 3rd quarter. HCR Wealth Advisors now owns 197,560 shares of the technology company’s stock worth $3,734,000 after buying an additional 61,414 shares during the last quarter. Hedge funds and other institutional investors own 82.32% of the company’s stock.

Shares of CenturyLink, Inc. (CTL) opened at $14.61 on Monday. The company has a debt-to-equity ratio of 1.92, a current ratio of 0.82 and a quick ratio of 0.82. CenturyLink, Inc. has a 12-month low of $13.16 and a 12-month high of $27.61. The firm has a market capitalization of $15,286.74, a P/E ratio of 7.37, a price-to-earnings-growth ratio of -4.47 and a beta of 0.79.

CenturyLink (NYSE:CTL) last posted its earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). CenturyLink had a net margin of 1.89% and a return on equity of 7.99%. The business had revenue of $4.03 billion for the quarter, compared to analysts’ expectations of $4.06 billion. During the same period last year, the firm posted $0.56 earnings per share. CenturyLink’s quarterly revenue was down 7.9% on a year-over-year basis. equities research analysts forecast that CenturyLink, Inc. will post 1.6 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be paid a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, November 24th. This represents a $2.16 annualized dividend and a dividend yield of 14.79%. CenturyLink’s dividend payout ratio (DPR) is presently 372.42%.

A number of analysts recently weighed in on the company. BidaskClub downgraded CenturyLink from a “hold” rating to a “sell” rating in a research report on Friday, August 11th. Cowen reiterated a “neutral” rating on shares of CenturyLink in a research report on Monday, August 14th. Zacks Investment Research upgraded CenturyLink from a “sell” rating to a “hold” rating in a research report on Friday, October 13th. Barclays lowered their price objective on CenturyLink from $23.00 to $19.00 and set an “underweight” rating for the company in a research report on Wednesday, October 4th. Finally, Jefferies Group reiterated a “hold” rating and issued a $22.00 price objective on shares of CenturyLink in a research report on Tuesday, October 3rd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $23.07.

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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.

Institutional Ownership by Quarter for CenturyLink (NYSE:CTL)

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