Greenleaf Trust bought a new position in shares of Centurylink Inc (NYSE:CTL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 9,682 shares of the technology company’s stock, valued at approximately $205,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CTL. Temasek Holdings Private Ltd grew 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. MUFG Securities EMEA plc bought a new position in Centurylink in the second quarter worth approximately $35,437,000. Madison Investment Holdings Inc. bought a new position in Centurylink in the second quarter worth approximately $24,058,000. Massachusetts Financial Services Co. MA bought a new position in Centurylink in the third quarter worth approximately $27,149,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its holdings in Centurylink by 195.1% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,557,650 shares of the technology company’s stock worth $29,035,000 after acquiring an additional 1,029,778 shares in the last quarter. 76.83% of the stock is owned by institutional investors and hedge funds.
In other news, Director Glen F. Post III sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 21st. The stock was sold at an average price of $24.00, for a total value of $3,600,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.60% of the stock is owned by company insiders.
CTL stock opened at $20.97 on Friday. Centurylink Inc has a twelve month low of $13.16 and a twelve month high of $24.20. The company has a debt-to-equity ratio of 1.60, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $22.66 billion, a PE ratio of 18.89, a P/E/G ratio of -13.04 and a beta of 0.76.
Centurylink (NYSE:CTL) last posted its earnings results on Wednesday, August 8th. The technology company reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The company had revenue of $5.90 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 44.3% on a year-over-year basis. Equities research analysts anticipate that Centurylink Inc will post 1.07 EPS for the current fiscal year.
CTL has been the topic of several recent research reports. Hanson lowered Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 price target on the stock. in a report on Wednesday, August 22nd. Moffett Nathanson reiterated a “sell” rating and issued a $23.00 price target on shares of Centurylink in a report on Wednesday, August 22nd. Bank of America set a $27.00 price target on Centurylink and gave the stock a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research upgraded Centurylink from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Finally, Royal Bank of Canada increased their price target on Centurylink to $27.00 and gave the stock an “outperform” rating in a report on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $21.12.
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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