Parametric Portfolio Associates LLC Has $68.72 Million Stake in Centurylink Inc (NYSE:CTL)
Parametric Portfolio Associates LLC lifted its position in Centurylink Inc (NYSE:CTL) by 52.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,843,769 shares of the technology company’s stock after purchasing an additional 2,021,983 shares during the quarter. Parametric Portfolio Associates LLC owned 0.54% of Centurylink worth $68,723,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Diversified Trust Co raised its stake in shares of Centurylink by 51.4% in the second quarter. Diversified Trust Co now owns 34,606 shares of the technology company’s stock valued at $407,000 after purchasing an additional 11,748 shares in the last quarter. BTC Capital Management Inc. raised its stake in Centurylink by 14.5% during the second quarter. BTC Capital Management Inc. now owns 203,548 shares of the technology company’s stock worth $2,392,000 after acquiring an additional 25,833 shares in the last quarter. Allstate Corp raised its stake in Centurylink by 71.6% during the first quarter. Allstate Corp now owns 38,123 shares of the technology company’s stock worth $457,000 after acquiring an additional 15,908 shares in the last quarter. Janus Henderson Group PLC raised its stake in Centurylink by 1.3% during the second quarter. Janus Henderson Group PLC now owns 2,126,947 shares of the technology company’s stock worth $25,016,000 after acquiring an additional 26,901 shares in the last quarter. Finally, Kwmg LLC raised its stake in Centurylink by 6.0% during the second quarter. Kwmg LLC now owns 194,528 shares of the technology company’s stock worth $2,288,000 after acquiring an additional 10,958 shares in the last quarter. Institutional investors and hedge funds own 73.31% of the company’s stock.
Several research firms have issued reports on CTL. Wells Fargo & Co set a $14.00 price objective on Centurylink and gave the stock a “buy” rating in a research note on Monday, August 12th. JPMorgan Chase & Co. lowered Centurylink from a “neutral” rating to an “underweight” rating and set a $10.00 price objective for the company. in a research note on Thursday, August 8th. Guggenheim set a $10.00 target price on Centurylink and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Raymond James upgraded Centurylink from an “underperform” rating to a “market perform” rating in a report on Thursday, August 8th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.59.
Centurylink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. The business had revenue of $5.58 billion for the quarter, compared to analysts’ expectations of $5.59 billion. Centurylink had a positive return on equity of 8.30% and a negative net margin of 34.77%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 earnings per share. Equities research analysts forecast that Centurylink Inc will post 1.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Monday, September 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.76%. The ex-dividend date is Thursday, August 29th. Centurylink’s dividend payout ratio is 84.03%.
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.
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