People s United Financial Inc. boosted its holdings in Centurylink Inc (NYSE:CTL) by 16.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 25,607 shares of the technology company’s stock after buying an additional 3,553 shares during the period. People s United Financial Inc.’s holdings in Centurylink were worth $478,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CTL. 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 worth $8,934,000 after buying an additional 84,377 shares in the last quarter. 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 worth $2,084,000 after buying an additional 28,138 shares in the last quarter. 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 worth $19,511,000 after buying an additional 124,132 shares in the last quarter. 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 worth $798,000 after buying an additional 12,837 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its stake in shares of Centurylink by 9.3% in the 1st quarter. Commerzbank Aktiengesellschaft FI now owns 871,194 shares of the technology company’s stock worth $14,314,000 after buying an additional 74,103 shares in the last quarter. 77.05% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have recently commented on CTL. Zacks Investment Research downgraded Centurylink from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 24th. Citigroup boosted their target price on Centurylink from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 9th. ValuEngine raised Centurylink from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Barclays reaffirmed a “hold” rating and set a $21.00 target price on shares of Centurylink in a research report on Friday, August 10th. Finally, Morgan Stanley upped their price target on Centurylink from $21.60 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, August 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $21.18.

In other news, Director Glen F. Post III sold 150,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.

NYSE CTL traded up $0.09 on Friday, reaching $22.74. The stock had a trading volume of 7,693,151 shares, compared to its average volume of 10,995,586. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.98 and a quick ratio of 0.98. Centurylink Inc has a 1 year low of $13.16 and a 1 year high of $24.20. The company has a market capitalization of $24.79 billion, a P/E ratio of 15.47, a price-to-earnings-growth ratio of -14.27 and a beta of 0.83.

Centurylink (NYSE:CTL) last issued its earnings results on Wednesday, August 8th. The technology company reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.03. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The firm 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 company posted $0.46 earnings per share. The business’s quarterly revenue was up 44.3% compared to the same quarter last year. equities analysts anticipate that Centurylink Inc will post 1.07 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 31st were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Thursday, August 30th. This represents a $2.16 annualized dividend and a dividend yield of 9.50%. Centurylink’s dividend payout ratio (DPR) is presently 146.94%.

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.

Further Reading: Risk Tolerance and Your Investment Decisions

Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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