Gyroscope Capital Management Group LLC lifted its position in CenturyLink, Inc. (NYSE:CTL) by 30.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 286,798 shares of the technology company’s stock after purchasing an additional 66,234 shares during the quarter. CenturyLink accounts for 2.7% of Gyroscope Capital Management Group LLC’s portfolio, making the stock its 21st largest position. Gyroscope Capital Management Group LLC owned about 0.05% of CenturyLink worth $5,420,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of CTL. Vanguard Group Inc. grew its position in CenturyLink by 22.6% in the second quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock valued at $1,369,547,000 after acquiring an additional 10,583,246 shares during the period. Capital World Investors bought a new stake in CenturyLink in the second quarter valued at $142,086,000. Standard Life Investments LTD bought a new stake in shares of CenturyLink during the second quarter worth $112,613,000. Fiduciary Management Inc. WI bought a new stake in shares of CenturyLink during the second quarter worth $86,411,000. Finally, Samlyn Capital LLC bought a new stake in shares of CenturyLink during the second quarter worth $80,290,000. Institutional investors and hedge funds own 82.32% of the company’s stock.
In related news, Director Virginia Boulet bought 5,095 shares of the business’s stock in a transaction on Monday, December 11th. The shares were purchased at an average price of $15.48 per share, with a total value of $78,870.60. Following the completion of the purchase, the director now owns 42,820 shares of the company’s stock, valued at approximately $662,853.60. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Glen F. Post III bought 50,000 shares of the business’s stock in a transaction on Friday, December 8th. The stock was bought at an average cost of $14.17 per share, for a total transaction of $708,500.00. The disclosure for this purchase can be found here. Insiders acquired 150,595 shares of company stock worth $2,154,131 in the last three months. Insiders own 0.61% of the company’s stock.
CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). CenturyLink had a net margin of 1.89% and a return on equity of 7.99%. The firm had revenue of $4.03 billion during the quarter, compared to the consensus estimate of $4.06 billion. During the same quarter in the prior year, the business earned $0.56 EPS. CenturyLink’s revenue was down 7.9% on a year-over-year basis. equities analysts forecast that CenturyLink, Inc. will post 1.6 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Monday, November 27th were paid a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 12.90%. The ex-dividend date was Friday, November 24th. CenturyLink’s payout ratio is 372.42%.
Several analysts have recently commented on CTL shares. Jefferies Group decreased their target price on CenturyLink to $17.00 and set a “hold” rating on the stock in a report on Thursday, November 9th. Oppenheimer decreased their target price on CenturyLink from $28.00 to $20.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. Deutsche Bank restated a “hold” rating and set a $16.00 target price on shares of CenturyLink in a report on Thursday, November 9th. Zacks Investment Research upgraded CenturyLink from a “sell” rating to a “hold” rating in a report on Friday, October 13th. Finally, SunTrust Banks restated a “hold” rating and set a $25.00 target price on shares of CenturyLink in a report on Wednesday, November 1st. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $23.07.
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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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