Mariner LLC bought a new position in shares of Centurylink Inc (NYSE:CTL) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,885 shares of the technology company’s stock, valued at approximately $212,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ballew Advisors Inc acquired a new position in Centurylink during the 1st quarter worth $101,000. Archford Capital Strategies LLC acquired a new position in Centurylink during the 1st quarter worth $130,000. Bedel Financial Consulting Inc. acquired a new position in Centurylink during the 1st quarter worth $136,000. Fairfield Bush & CO. acquired a new position in Centurylink during the 1st quarter worth $150,000. Finally, Westside Investment Management Inc. grew its stake in Centurylink by 327.6% during the 4th quarter. Westside Investment Management Inc. now owns 10,442 shares of the technology company’s stock worth $180,000 after purchasing an additional 8,000 shares in the last quarter. 78.44% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Steven T. Clontz bought 41,000 shares of Centurylink stock in a transaction dated Friday, May 11th. The stock was acquired at an average cost of $19.44 per share, with a total value of $797,040.00. Following the acquisition, the director now owns 162,019 shares of the company’s stock, valued at $3,149,649.36. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Holdings (Private) Ltd Temasek bought 7,620,118 shares of Centurylink stock in a transaction dated Wednesday, April 4th. The stock was purchased at an average cost of $16.72 per share, with a total value of $127,408,372.96. The disclosure for this purchase can be found here. 0.60% of the stock is currently owned by insiders.
Centurylink (NYSE:CTL) last posted its earnings results on Wednesday, May 9th. The technology company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.06. Centurylink had a return on equity of 4.94% and a net margin of 6.92%. The business had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $5.97 billion. During the same period in the previous year, the business earned $0.35 EPS. The business’s quarterly revenue was up 41.2% on a year-over-year basis. research analysts forecast that Centurylink Inc will post 0.93 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Monday, June 4th were issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 11.71%. The ex-dividend date was Friday, June 1st. Centurylink’s payout ratio is currently 146.94%.
CTL has been the subject of several analyst reports. ValuEngine raised Centurylink from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 1st. Bank of America reissued a “buy” rating and set a $27.00 target price on shares of Centurylink in a research note on Wednesday, May 16th. Zacks Investment Research raised Centurylink from a “sell” rating to a “hold” rating in a research report on Friday, March 16th. Macquarie cut Centurylink from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $27.61 to $18.00 in a research report on Wednesday, May 16th. Finally, Guggenheim began coverage on Centurylink in a research report on Tuesday, March 13th. They set a “neutral” rating and a $17.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. Centurylink has a consensus rating of “Hold” and an average target price of $21.00.
Centurylink Company Profile
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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