Cornerstone Investment Partners LLC boosted its stake in CenturyLink, Inc. (NYSE:CTL) by 22.9% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,228 shares of the technology company’s stock after buying an additional 13,825 shares during the period. Cornerstone Investment Partners LLC’s holdings in CenturyLink were worth $1,403,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Endurance Wealth Management Inc. grew its position in CenturyLink by 18.5% in the 2nd quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock valued at $111,000 after buying an additional 725 shares in the last quarter. Patriot Financial Group Insurance Agency LLC boosted its position in shares of CenturyLink by 178.6% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,684 shares of the technology company’s stock valued at $134,000 after purchasing an additional 4,285 shares in the last quarter. Blue Granite Capital LLC bought a new position in shares of CenturyLink during the 3rd quarter valued at about $136,000. Tower Research Capital LLC TRC bought a new position in shares of CenturyLink during the 2nd quarter valued at about $197,000. Finally, IFC Holdings Incorporated FL bought a new position in shares of CenturyLink during the 3rd quarter valued at about $201,000. Hedge funds and other institutional investors own 82.32% of the company’s stock.
Shares of CenturyLink, Inc. (NYSE:CTL) remained flat at $$14.80 during midday trading on Tuesday. 12,077,000 shares of the company’s stock traded hands, compared to its average volume of 10,432,753. The company has a market capitalization of $15,660.00, a P/E ratio of 7.63, a PEG ratio of -4.60 and a beta of 0.88. CenturyLink, Inc. has a 12 month low of $14.06 and a 12 month high of $27.61. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92.
CenturyLink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.03). The company had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.06 billion. CenturyLink had a net margin of 2.28% and a return on equity of 2.83%. The firm’s revenue was down 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 earnings per share. analysts predict that CenturyLink, Inc. will post 1.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be issued a $0.54 dividend. The ex-dividend date is Friday, November 24th. This represents a $2.16 dividend on an annualized basis and a dividend yield of 14.59%. CenturyLink’s dividend payout ratio is 372.41%.
CTL has been the subject of a number of analyst reports. UBS AG reduced their price objective on shares of CenturyLink from $29.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. Cowen and Company reaffirmed a “hold” rating and set a $24.00 price objective on shares of CenturyLink in a research note on Thursday, October 19th. Bank of America Corporation reduced their price objective on shares of CenturyLink from $42.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, November 10th. Zacks Investment Research lowered shares of CenturyLink from a “hold” rating to a “strong sell” rating in a research note on Friday, August 25th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $16.00 price objective on shares of CenturyLink in a research note on Thursday, November 9th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $23.07.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to its residential and business customers. Its segments include business, which provides strategic, legacy and data integration products and services to small, medium and enterprise business, wholesale and governmental customers, including other communication providers, and consumer, which provides strategic and legacy products and services to residential customers.
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