State Board of Administration of Florida Retirement System decreased its stake in Centurylink Inc (NYSE:CTL) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,367,095 shares of the technology company’s stock after selling 29,310 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Centurylink were worth $28,982,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Greatmark Investment Partners Inc. grew its stake in shares of Centurylink by 15.5% in the third quarter. Greatmark Investment Partners Inc. now owns 83,875 shares of the technology company’s stock worth $1,778,000 after acquiring an additional 11,250 shares during the last quarter. Moody National Bank Trust Division grew its stake in shares of Centurylink by 52.6% in the third quarter. Moody National Bank Trust Division now owns 22,775 shares of the technology company’s stock worth $483,000 after acquiring an additional 7,850 shares during the last quarter. WBI Investments Inc. acquired a new stake in shares of Centurylink in the third quarter worth $6,905,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Centurylink by 93.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 136,867 shares of the technology company’s stock worth $2,903,000 after acquiring an additional 65,994 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in Centurylink by 1.2% in the third quarter. Oregon Public Employees Retirement Fund now owns 204,271 shares of the technology company’s stock worth $4,331,000 after purchasing an additional 2,465 shares during the period. Institutional investors and hedge funds own 76.84% of the company’s stock.
Several research analysts recently commented on the company. Zacks Investment Research raised Centurylink from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Thursday, October 25th. Citigroup raised their target price on Centurylink from $17.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, August 9th. ValuEngine raised Centurylink from a “hold” rating to a “buy” rating in a research report on Wednesday, August 15th. Barclays reaffirmed a “hold” rating and issued a $21.00 target price on shares of Centurylink in a research report on Friday, August 10th. Finally, Cowen set a $20.00 target price on Centurylink and gave the stock a “hold” rating in a research report on Tuesday, September 25th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. Centurylink has a consensus rating of “Hold” and a consensus target price of $21.12.
In other Centurylink news, Director Glen F. Post III sold 150,000 shares of Centurylink stock in a transaction on Tuesday, August 21st. The stock was sold at an average price of $24.00, for a total transaction of $3,600,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.60% of the stock is currently owned by company insiders.
Shares of NYSE CTL opened at $21.15 on Wednesday. The firm has a market cap of $22.66 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of -13.05 and a beta of 0.76. Centurylink Inc has a 52-week low of $13.16 and a 52-week high of $24.20. The company has a debt-to-equity ratio of 1.60, a current ratio of 0.98 and a quick ratio of 0.98.
Centurylink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.23 by $0.03. The company had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $5.92 billion. Centurylink had a return on equity of 4.50% and a net margin of 7.62%. The business’s revenue was up 44.3% on a year-over-year basis. During the same period last year, the business earned $0.46 earnings per share. As a group, sell-side analysts predict that Centurylink Inc will post 1.07 earnings per share for the current year.
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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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