QUANTRES ASSET MANAGEMENT Ltd Boosts Stake in Centurylink Inc (CTL)
QUANTRES ASSET MANAGEMENT Ltd lifted its holdings in Centurylink Inc (NYSE:CTL) by 420.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 84,300 shares of the technology company’s stock after buying an additional 68,100 shares during the period. Centurylink comprises 0.9% of QUANTRES ASSET MANAGEMENT Ltd’s holdings, making the stock its 29th largest holding. QUANTRES ASSET MANAGEMENT Ltd’s holdings in Centurylink were worth $1,406,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Fieldpoint Private Securities LLC purchased a new position in shares of Centurylink during the 3rd quarter worth about $115,000. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Centurylink by 178.6% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,684 shares of the technology company’s stock worth $134,000 after purchasing an additional 4,285 shares during the period. Blue Granite Capital LLC purchased a new position in shares of Centurylink during the 3rd quarter worth about $136,000. Barrow Hanley Mewhinney & Strauss LLC boosted its stake in shares of Centurylink by 10,329.0% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,196 shares of the technology company’s stock worth $136,000 after purchasing an additional 7,127 shares during the period. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Centurylink during the 2nd quarter worth about $197,000. Hedge funds and other institutional investors own 82.32% of the company’s stock.
In other Centurylink news, COO Jeffrey K. Storey purchased 71,000 shares of Centurylink stock in a transaction dated Friday, December 8th. The stock was acquired at an average price of $14.30 per share, for a total transaction of $1,015,300.00. Following the acquisition, the chief operating officer now owns 2,498,668 shares in the company, valued at approximately $35,730,952.40. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Martha Helena Bejar purchased 7,000 shares of Centurylink stock in a transaction dated Friday, December 8th. The stock was acquired at an average price of $14.28 per share, with a total value of $99,960.00. Following the acquisition, the director now owns 25,991 shares in the company, valued at approximately $371,151.48. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 150,595 shares of company stock valued at $2,154,131. 0.61% of the stock is owned by corporate insiders.
Centurylink (NYSE:CTL) last released its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). The company had revenue of $4.03 billion during the quarter, compared to analysts’ expectations of $4.06 billion. Centurylink had a net margin of 1.89% and a return on equity of 7.99%. Centurylink’s quarterly revenue was down 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.56 earnings per share. equities research analysts anticipate that Centurylink Inc will post 1.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Monday, November 27th were given a $0.54 dividend. The ex-dividend date of this dividend was Friday, November 24th. This represents a $2.16 annualized dividend and a yield of 12.73%. Centurylink’s dividend payout ratio (DPR) is 372.41%.
A number of equities analysts recently commented on CTL shares. Royal Bank of Canada reaffirmed a “hold” rating and set a $25.00 price target on shares of Centurylink in a research note on Monday, September 18th. Jefferies Group reaffirmed a “hold” rating and set a $22.00 price target on shares of Centurylink in a research note on Tuesday, October 3rd. Barclays dropped their price target on shares of Centurylink from $23.00 to $19.00 and set an “underweight” rating for the company in a research note on Wednesday, October 4th. Deutsche Bank dropped their price target on shares of Centurylink from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Tuesday, October 10th. Finally, Zacks Investment Research raised shares of Centurylink from a “sell” rating to a “hold” rating in a research note on Friday, October 13th. Four analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.37.
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Centurylink Company 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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