Prudential PLC cut its holdings in Centurylink Inc (NYSE:CTL) by 2.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,343,808 shares of the technology company’s stock after selling 32,287 shares during the quarter. Prudential PLC owned about 0.12% of Centurylink worth $16,126,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Centurylink by 4.3% in the second quarter. Vanguard Group Inc. now owns 111,083,804 shares of the technology company’s stock valued at $1,306,346,000 after buying an additional 4,537,725 shares during the last quarter. BlackRock Inc. lifted its stake in Centurylink by 5.3% during the second quarter. BlackRock Inc. now owns 91,381,667 shares of the technology company’s stock valued at $1,074,649,000 after buying an additional 4,592,314 shares in the last quarter. First Trust Advisors LP lifted its stake in Centurylink by 312.5% during the second quarter. First Trust Advisors LP now owns 17,971,928 shares of the technology company’s stock valued at $211,350,000 after buying an additional 13,615,102 shares in the last quarter. Northern Trust Corp lifted its stake in Centurylink by 5.9% during the second quarter. Northern Trust Corp now owns 11,332,131 shares of the technology company’s stock valued at $133,266,000 after buying an additional 628,041 shares in the last quarter. Finally, ACR Alpine Capital Research LLC lifted its stake in Centurylink by 63.4% during the first quarter. ACR Alpine Capital Research LLC now owns 10,177,422 shares of the technology company’s stock valued at $122,027,000 after buying an additional 3,950,360 shares in the last quarter. Institutional investors and hedge funds own 73.30% of the company’s stock.
A number of analysts have commented on CTL shares. Guggenheim set a $10.00 price objective on shares of Centurylink and gave the company a “hold” rating in a research note on Friday. Raymond James raised shares of Centurylink from an “underperform” rating to a “market perform” rating in a research note on Thursday, August 8th. Wells Fargo & Co set a $14.00 price objective on shares of Centurylink and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Centurylink in a research note on Friday, September 13th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $14.59.
Centurylink (NYSE:CTL) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $5.58 billion for the quarter, compared to analyst estimates of $5.59 billion. Centurylink had a negative net margin of 34.77% and a positive return on equity of 8.30%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.27 earnings per share. Sell-side analysts forecast that Centurylink Inc will post 1.35 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Monday, September 2nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.16%. The ex-dividend date was Thursday, August 29th. Centurylink’s payout ratio is presently 84.03%.
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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