Nomura Asset Management Co. Ltd. grew its holdings in Centurylink Inc (NYSE:CTL) by 62.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 185,076 shares of the technology company’s stock after purchasing an additional 71,210 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Centurylink were worth $3,087,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of CTL. Canada Pension Plan Investment Board boosted its stake in shares of Centurylink by 61.8% in the third quarter. Canada Pension Plan Investment Board now owns 175,859 shares of the technology company’s stock valued at $3,324,000 after purchasing an additional 67,200 shares during the period. Gamco Investors INC. ET AL purchased a new position in shares of Centurylink in the third quarter valued at approximately $309,000. Prudential Financial Inc. boosted its stake in shares of Centurylink by 9.1% in the third quarter. Prudential Financial Inc. now owns 1,709,885 shares of the technology company’s stock valued at $32,317,000 after purchasing an additional 142,927 shares during the period. Candriam Luxembourg S.C.A. boosted its stake in shares of Centurylink by 93.2% in the third quarter. Candriam Luxembourg S.C.A. now owns 133,299 shares of the technology company’s stock valued at $2,519,000 after purchasing an additional 64,319 shares during the period. Finally, Retirement Systems of Alabama boosted its stake in shares of Centurylink by 46.8% in the third quarter. Retirement Systems of Alabama now owns 390,681 shares of the technology company’s stock valued at $7,384,000 after purchasing an additional 124,587 shares during the period. 86.09% of the stock is owned by institutional investors and hedge funds.
Centurylink Inc (NYSE:CTL) opened at $17.33 on Thursday. Centurylink Inc has a 12 month low of $13.16 and a 12 month high of $27.61. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 1.59. The stock has a market cap of $18,540.00, a P/E ratio of 33.33, a P/E/G ratio of -10.28 and a beta of 0.79.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Monday, March 5th will be paid a $0.54 dividend. The ex-dividend date is Friday, March 2nd. This represents a $2.16 dividend on an annualized basis and a yield of 12.46%. Centurylink’s dividend payout ratio is currently 415.38%.
Several research firms have recently commented on CTL. Guggenheim began coverage on shares of Centurylink in a research note on Tuesday. They issued a “neutral” rating and a $17.00 price objective for the company. Oppenheimer reissued a “buy” rating and issued a $20.00 price objective on shares of Centurylink in a research note on Tuesday, January 9th. Bank of America set a $27.00 price objective on shares of Centurylink and gave the company a “buy” rating in a research note on Wednesday, February 21st. Zacks Investment Research raised shares of Centurylink from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, ValuEngine raised shares of Centurylink from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $21.65.
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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 Enterprise, 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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