Kinneret Advisory LLC bought a new stake in shares of Centurylink Inc (NYSE:CTL) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,400 shares of the technology company’s stock, valued at approximately $218,000.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CTL. ARP Americas LP grew its stake in Centurylink by 163.0% in the fourth quarter. ARP Americas LP now owns 36,300 shares of the technology company’s stock worth $550,000 after purchasing an additional 22,500 shares in the last quarter. Stifel Financial Corp grew its stake in Centurylink by 1.7% in the fourth quarter. Stifel Financial Corp now owns 1,533,634 shares of the technology company’s stock worth $23,283,000 after purchasing an additional 26,052 shares in the last quarter. Southeast Asset Advisors Inc. grew its stake in Centurylink by 22.9% in the fourth quarter. Southeast Asset Advisors Inc. now owns 1,014,498 shares of the technology company’s stock worth $15,370,000 after purchasing an additional 188,995 shares in the last quarter. Covey Capital Advisors LLC grew its stake in Centurylink by 7.6% in the fourth quarter. Covey Capital Advisors LLC now owns 126,120 shares of the technology company’s stock worth $1,910,000 after purchasing an additional 8,935 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Centurylink by 12.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 14,763,545 shares of the technology company’s stock worth $223,688,000 after purchasing an additional 1,587,647 shares in the last quarter. 75.27% of the stock is currently owned by hedge funds and other institutional investors.
In other news, major shareholder Holdings (Private) Ltd Temasek sold 16,000,000 shares of the stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $15.90, for a total transaction of $254,400,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeffrey K. Storey acquired 83,000 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were acquired at an average price of $11.94 per share, with a total value of $991,020.00. Following the acquisition, the chief executive officer now owns 3,476,359 shares in the company, valued at approximately $41,507,726.46. The disclosure for this purchase can be found here. Insiders have acquired a total of 143,000 shares of company stock worth $1,698,720 in the last ninety days. Insiders own 0.60% of the company’s stock.
Shares of NYSE CTL opened at $11.92 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.78 and a debt-to-equity ratio of 1.79. The firm has a market cap of $13.04 billion, a price-to-earnings ratio of 10.02, a P/E/G ratio of 1.84 and a beta of 0.78. Centurylink Inc has a 12-month low of $11.52 and a 12-month high of $24.20.
Centurylink (NYSE:CTL) last announced its earnings results on Wednesday, February 13th. The technology company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. The business had revenue of $5.78 billion for the quarter, compared to analysts’ expectations of $5.78 billion. Centurylink had a positive return on equity of 5.68% and a negative net margin of 7.39%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.18 EPS. As a group, equities research analysts expect that Centurylink Inc will post 1.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 22nd. Shareholders of record on Tuesday, March 12th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 11th. This represents a $1.00 annualized dividend and a yield of 8.39%. Centurylink’s dividend payout ratio (DPR) is presently 84.03%.
Several research analysts recently issued reports on CTL shares. Zacks Investment Research cut Centurylink from a “buy” rating to a “hold” rating in a research note on Monday, December 10th. Edward Jones cut Centurylink to a “sell” rating in a research note on Tuesday, March 5th. Guggenheim cut Centurylink from a “neutral” rating to a “sell” rating and set a $11.00 price objective on the stock. in a research note on Thursday, January 24th. JPMorgan Chase & Co. cut Centurylink from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $27.00 to $14.00 in a research note on Thursday, February 14th. Finally, Royal Bank of Canada cut Centurylink from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $24.00 to $15.00 in a research note on Wednesday, February 20th. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $16.75.
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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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