CapWealth Advisors LLC boosted its stake in Centurylink Inc (NYSE:CTL) by 10.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,567,990 shares of the technology company’s stock after acquiring an additional 142,770 shares during the period. Centurylink comprises approximately 5.5% of CapWealth Advisors LLC’s portfolio, making the stock its largest position. CapWealth Advisors LLC owned approximately 0.15% of Centurylink worth $33,241,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in CTL. Picton Mahoney Asset Management acquired a new position in Centurylink in the third quarter valued at $106,000. Migdal Insurance & Financial Holdings Ltd. increased its stake in Centurylink by 16,940.6% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock valued at $102,000 after purchasing an additional 5,421 shares during the period. Rehmann Capital Advisory Group increased its stake in Centurylink by 210.7% in the second quarter. Rehmann Capital Advisory Group now owns 5,873 shares of the technology company’s stock valued at $109,000 after purchasing an additional 3,983 shares during the period. Baker Ellis Asset Management LLC acquired a new position in Centurylink in the second quarter valued at $110,000. Finally, Greenleaf Trust acquired a new position in Centurylink in the third quarter valued at $205,000. 75.22% of the stock is owned by hedge funds and other institutional investors.
Shares of Centurylink stock opened at $17.85 on Thursday. Centurylink Inc has a 52-week low of $13.81 and a 52-week high of $24.20. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 1.57. The stock has a market cap of $19.29 billion, a PE ratio of 18.03, a PEG ratio of -10.37 and a beta of 0.79.
Centurylink (NYSE:CTL) last issued its earnings results on Thursday, November 8th. The technology company reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Centurylink had a net margin of 7.81% and a return on equity of 4.45%. The company had revenue of $5.82 billion for the quarter, compared to analyst estimates of $5.88 billion. During the same period in the prior year, the business posted $0.42 earnings per share. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. Equities analysts anticipate that Centurylink Inc will post 1.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 26th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $2.16 annualized dividend and a yield of 12.10%. Centurylink’s payout ratio is currently 146.94%.
A number of research analysts have recently issued reports on CTL shares. Zacks Investment Research upgraded shares of Centurylink from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Friday, November 16th. Citigroup boosted their price target on shares of Centurylink from $17.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, August 9th. ValuEngine upgraded shares of Centurylink from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Barclays reiterated a “hold” rating and set a $21.00 price target on shares of Centurylink in a research note on Friday, August 10th. Finally, Cowen reiterated a “hold” rating and set a $21.00 price target on shares of Centurylink in a research note on Friday, November 9th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $20.92.
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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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