Chevy Chase Trust Holdings Inc. Acquires 4,225 Shares of Centurylink Inc (CTL)

Chevy Chase Trust Holdings Inc. grew its holdings in shares of Centurylink Inc (NYSE:CTL) by 0.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 826,766 shares of the technology company’s stock after purchasing an additional 4,225 shares during the quarter. Chevy Chase Trust Holdings Inc. owned approximately 0.08% of Centurylink worth $15,411,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Millennium Management LLC acquired a new stake in shares of Centurylink in the 4th quarter valued at about $2,761,000. Global X Management Co. LLC raised its stake in shares of Centurylink by 18.4% in the 1st quarter. Global X Management Co. LLC now owns 543,766 shares of the technology company’s stock valued at $8,934,000 after purchasing an additional 84,377 shares during the period. FDx Advisors Inc. raised its stake in shares of Centurylink by 28.5% in the 1st quarter. FDx Advisors Inc. now owns 126,861 shares of the technology company’s stock valued at $2,084,000 after purchasing an additional 28,138 shares during the period. Lee Danner & Bass Inc. raised its stake in shares of Centurylink by 11.7% in the 1st quarter. Lee Danner & Bass Inc. now owns 1,187,520 shares of the technology company’s stock valued at $19,511,000 after purchasing an additional 124,132 shares during the period. Finally, Harvest Management LLC raised its stake in shares of Centurylink by 36.0% in the 1st quarter. Harvest Management LLC now owns 48,540 shares of the technology company’s stock valued at $798,000 after purchasing an additional 12,837 shares during the period. 78.74% of the stock is currently owned by institutional investors.

NYSE:CTL opened at $20.97 on Friday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $20.11 billion, a P/E ratio of 14.23, a P/E/G ratio of -13.38 and a beta of 0.80. Centurylink Inc has a 52-week low of $13.16 and a 52-week high of $22.03.

Centurylink (NYSE:CTL) last released its earnings results on Wednesday, August 8th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Centurylink had a return on equity of 4.94% and a net margin of 6.92%. The business had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the previous year, the business earned $0.46 earnings per share. Centurylink’s quarterly revenue was up 44.3% on a year-over-year basis. analysts anticipate that Centurylink Inc will post 0.93 earnings per share for the current year.

CTL has been the topic of several recent research reports. Jefferies Financial Group raised Centurylink from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. TheStreet raised Centurylink from a “c+” rating to a “b” rating in a research report on Friday, July 6th. Bank of America reaffirmed a “buy” rating and issued a $27.00 target price on shares of Centurylink in a research report on Wednesday, May 16th. Macquarie downgraded Centurylink from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $27.61 to $18.00 in a research report on Wednesday, May 16th. Finally, ValuEngine downgraded Centurylink from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $20.87.

Centurylink 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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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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