Oregon Public Employees Retirement Fund lowered its stake in shares of Centurylink Inc (NYSE:CTL) by 12.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 201,806 shares of the technology company’s stock after selling 28,248 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Centurylink were worth $3,762,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Ballew Advisors Inc purchased a new stake in shares of Centurylink in the 1st quarter valued at about $101,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of Centurylink by 16,940.6% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 5,453 shares of the technology company’s stock valued at $102,000 after acquiring an additional 5,421 shares in the last quarter. AdvisorNet Financial Inc increased its position in shares of Centurylink by 118.4% during the 2nd quarter. AdvisorNet Financial Inc now owns 6,422 shares of the technology company’s stock valued at $120,000 after purchasing an additional 3,482 shares during the last quarter. Archford Capital Strategies LLC bought a new position in Centurylink during the 1st quarter worth approximately $130,000. Finally, Private Capital Group LLC grew its position in Centurylink by 295.1% during the 1st quarter. Private Capital Group LLC now owns 8,783 shares of the technology company’s stock worth $144,000 after acquiring an additional 6,560 shares during the last quarter. Institutional investors and hedge funds own 77.05% of the company’s stock.
Shares of CTL traded up $0.09 during trading hours on Friday, hitting $22.74. The stock had a trading volume of 7,693,151 shares, compared to its average volume of 10,995,586. 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 Inc has a 12 month low of $13.16 and a 12 month high of $24.20. The firm has a market capitalization of $24.79 billion, a P/E ratio of 15.47, a PEG ratio of -14.27 and a beta of 0.83.
Centurylink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.26 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. Centurylink’s revenue was up 44.3% compared to the same quarter last year. analysts expect that Centurylink Inc will post 1.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 9.50%. The ex-dividend date of this dividend was Thursday, August 30th. Centurylink’s dividend payout ratio is presently 146.94%.
Several research firms have weighed in on CTL. Hanson cut Centurylink from a “neutral” rating to a “sell” rating and set a $19.00 price objective for the company. in a report on Wednesday, August 22nd. Moffett Nathanson reiterated a “sell” rating and issued a $23.00 price objective on shares of Centurylink in a report on Wednesday, August 22nd. Royal Bank of Canada increased their price objective on Centurylink to $27.00 and gave the stock an “outperform” rating in a report on Thursday, August 16th. ValuEngine upgraded Centurylink from a “hold” rating to a “buy” rating in a report on Wednesday, August 15th. Finally, Morgan Stanley increased their price objective on Centurylink from $21.60 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, August 15th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. Centurylink has an average rating of “Hold” and an average target price of $21.18.
In other news, Director Glen F. Post III sold 150,000 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $24.00, for a total value of $3,600,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.60% of the company’s stock.
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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