DNB Asset Management AS Sells 18,630 Shares of Centurylink Inc (NYSE:CTL)

DNB Asset Management AS cut its position in Centurylink Inc (NYSE:CTL) by 11.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 139,328 shares of the technology company’s stock after selling 18,630 shares during the period. DNB Asset Management AS’s holdings in Centurylink were worth $1,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTL. Nuveen Asset Management LLC lifted its position in shares of Centurylink by 292.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 7,153,338 shares of the technology company’s stock valued at $84,123,000 after acquiring an additional 5,331,862 shares during the period. Diversified Trust Co lifted its position in shares of Centurylink by 51.4% during the 2nd quarter. Diversified Trust Co now owns 34,606 shares of the technology company’s stock valued at $407,000 after acquiring an additional 11,748 shares during the period. Northern Trust Corp lifted its position in shares of Centurylink by 5.9% during the 2nd quarter. Northern Trust Corp now owns 11,332,131 shares of the technology company’s stock valued at $133,266,000 after acquiring an additional 628,041 shares during the period. HighTower Advisors LLC lifted its position in shares of Centurylink by 20.6% during the 2nd quarter. HighTower Advisors LLC now owns 254,897 shares of the technology company’s stock valued at $2,991,000 after acquiring an additional 43,579 shares during the period. Finally, BTC Capital Management Inc. lifted its position in shares of Centurylink by 14.5% during the 2nd quarter. BTC Capital Management Inc. now owns 203,548 shares of the technology company’s stock valued at $2,392,000 after acquiring an additional 25,833 shares during the period. Institutional investors and hedge funds own 73.31% of the company’s stock.

Shares of CTL stock opened at $12.44 on Monday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 2.53. Centurylink Inc has a twelve month low of $9.64 and a twelve month high of $22.08. The company has a market cap of $13.13 billion, a P/E ratio of 10.45, a P/E/G ratio of 0.86 and a beta of 0.85. The business has a fifty day simple moving average of $12.10 and a 200 day simple moving average of $11.56.

Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.03. Centurylink had a positive return on equity of 8.30% and a negative net margin of 34.77%. The business had revenue of $5.58 billion during the quarter, compared to the consensus estimate of $5.59 billion. During the same period in the prior year, the company earned $0.27 EPS. Centurylink’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, equities research analysts anticipate that Centurylink Inc will post 1.35 earnings per share for the current fiscal year.

Several analysts recently weighed in on CTL shares. Guggenheim set a $10.00 price objective on Centurylink and gave the stock a “hold” rating in a research report on Friday, September 27th. Wells Fargo & Co set a $14.00 price objective on Centurylink and gave the stock a “buy” rating in a research report on Monday, August 12th. ValuEngine upgraded Centurylink from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. restated a “buy” rating on shares of Centurylink in a research report on Friday, September 13th. Finally, Raymond James upgraded Centurylink from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 8th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. Centurylink currently has a consensus rating of “Hold” and an average target price of $14.59.

Centurylink Profile

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.

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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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