US Bancorp DE Boosts Holdings in Centurylink Inc (CTL)
US Bancorp DE lifted its stake in Centurylink Inc (NYSE:CTL) by 31.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 130,042 shares of the technology company’s stock after acquiring an additional 31,418 shares during the quarter. US Bancorp DE’s holdings in Centurylink were worth $2,758,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also bought and sold shares of the company. Temasek Holdings Private Ltd lifted its stake in Centurylink by 16.4% during the second quarter. Temasek Holdings Private Ltd now owns 123,201,207 shares of the technology company’s stock worth $2,296,470,000 after purchasing an additional 17,339,784 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Centurylink by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 12,817,283 shares of the technology company’s stock valued at $238,924,000 after acquiring an additional 627,080 shares during the last quarter. Beck Mack & Oliver LLC increased its holdings in shares of Centurylink by 3.9% in the third quarter. Beck Mack & Oliver LLC now owns 6,469,678 shares of the technology company’s stock valued at $137,157,000 after purchasing an additional 241,858 shares in the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Centurylink by 5.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 4,962,275 shares of the technology company’s stock valued at $92,497,000 after purchasing an additional 278,489 shares in the last quarter. Finally, Miller Value Partners LLC increased its holdings in shares of Centurylink by 1.1% in the second quarter. Miller Value Partners LLC now owns 3,606,710 shares of the technology company’s stock valued at $67,229,000 after purchasing an additional 39,275 shares in the last quarter. 75.22% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on CTL. Moffett Nathanson reissued a “sell” rating and issued a $23.00 price target on shares of Centurylink in a report on Wednesday, August 22nd. Hanson lowered shares of Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 price target for the company. in a report on Wednesday, August 22nd. Royal Bank of Canada lifted their target price on shares of Centurylink to $27.00 and gave the stock an “outperform” rating in a report on Thursday, August 16th. Morgan Stanley lifted their target price on shares of Centurylink from $21.60 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, August 15th. Finally, ValuEngine raised shares of Centurylink from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.85.
NYSE:CTL traded down $0.01 on Friday, hitting $17.47. 12,154,873 shares of the company’s stock were exchanged, compared to its average volume of 11,842,177. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.78 and a quick ratio of 0.78. Centurylink Inc has a 52 week low of $14.09 and a 52 week high of $24.20. The stock has a market capitalization of $18.89 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of -10.16 and a beta of 0.79.
Centurylink (NYSE:CTL) last issued its quarterly earnings results on Thursday, November 8th. The technology company reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. Centurylink had a net margin of 7.81% and a return on equity of 4.45%. The firm had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.88 billion. During the same period in the previous year, the firm posted $0.42 EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis. On average, analysts anticipate that Centurylink Inc will post 1.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Monday, November 26th were paid a dividend of $0.54 per share. The ex-dividend date of this dividend was Friday, November 23rd. This represents a $2.16 annualized dividend and a dividend yield of 12.36%. Centurylink’s dividend payout ratio is presently 146.94%.
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Centurylink Company 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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