Forsta AP Fonden acquired a new stake in CenturyLink (NYSE:CTL) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 319,500 shares of the technology company’s stock, valued at approximately $5,249,000.
Several other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its holdings in shares of CenturyLink by 82.4% in the 4th quarter. Geode Capital Management LLC now owns 10,371,954 shares of the technology company’s stock valued at $172,650,000 after acquiring an additional 4,685,323 shares during the last quarter. Standard Life Aberdeen plc boosted its holdings in shares of CenturyLink by 1,216.8% in the 4th quarter. Standard Life Aberdeen plc now owns 6,682,023 shares of the technology company’s stock valued at $111,491,000 after acquiring an additional 6,174,561 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of CenturyLink by 7.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 4,683,786 shares of the technology company’s stock valued at $76,955,000 after acquiring an additional 325,594 shares during the last quarter. Guggenheim Capital LLC boosted its holdings in shares of CenturyLink by 52.5% in the 4th quarter. Guggenheim Capital LLC now owns 4,344,086 shares of the technology company’s stock valued at $72,459,000 after acquiring an additional 1,494,802 shares during the last quarter. Finally, Beck Mack & Oliver LLC boosted its holdings in shares of CenturyLink by 352.4% in the 4th quarter. Beck Mack & Oliver LLC now owns 4,265,697 shares of the technology company’s stock valued at $71,152,000 after acquiring an additional 3,322,807 shares during the last quarter. 86.20% of the stock is currently owned by institutional investors and hedge funds.
Shares of CenturyLink opened at $19.29 on Friday, according to MarketBeat. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.58. The firm has a market cap of $20.77 billion, a P/E ratio of 13.12, a PEG ratio of -14.33 and a beta of 0.76. CenturyLink has a 1 year low of $13.16 and a 1 year high of $27.61.
CenturyLink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, May 9th. The technology company reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.06. The company had revenue of $5.95 billion during the quarter, compared to analysts’ expectations of $5.97 billion. CenturyLink had a net margin of 6.92% and a return on equity of 4.94%. The firm’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 earnings per share. research analysts anticipate that CenturyLink will post 0.9 EPS for the current year.
Several analysts have recently commented on the stock. Macquarie downgraded shares of CenturyLink from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $27.61 to $18.00 in a report on Wednesday. ValuEngine downgraded shares of CenturyLink from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Guggenheim initiated coverage on shares of CenturyLink in a report on Tuesday, March 13th. They set a “neutral” rating and a $17.00 price target on the stock. Bank of America reissued a “buy” rating and set a $27.00 price target on shares of CenturyLink in a report on Wednesday. Finally, Barclays reissued a “hold” rating and set a $17.00 price target on shares of CenturyLink in a report on Friday, February 16th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $21.00.
In related news, Director Steven T. Clontz acquired 41,000 shares of CenturyLink stock in a transaction on Friday, May 11th. The stock was bought at an average cost of $19.44 per share, for a total transaction of $797,040.00. Following the completion of the transaction, the director now owns 162,019 shares of the company’s stock, valued at approximately $3,149,649.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings (Private) Ltd Temasek acquired 7,620,118 shares of CenturyLink stock in a transaction on Wednesday, April 4th. The shares were bought at an average price of $16.72 per share, with a total value of $127,408,372.96. The disclosure for this purchase can be found here. Corporate insiders own 0.60% of the company’s stock.
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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