Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Centurylink Inc (NYSE:CTL) by 4.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 612,869 shares of the technology company’s stock after acquiring an additional 24,498 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.06% of Centurylink worth $12,993,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Madison Investment Holdings Inc. bought a new position in Centurylink in the second quarter worth about $24,058,000. Beck Mack & Oliver LLC raised its holdings in Centurylink by 3.9% in the third quarter. Beck Mack & Oliver LLC now owns 6,469,678 shares of the technology company’s stock worth $137,157,000 after purchasing an additional 241,858 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Centurylink by 5.1% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,106,856 shares of the technology company’s stock worth $65,865,000 after purchasing an additional 150,142 shares in the last quarter. Toronto Dominion Bank raised its holdings in Centurylink by 27.8% in the second quarter. Toronto Dominion Bank now owns 706,741 shares of the technology company’s stock worth $13,171,000 after purchasing an additional 153,865 shares in the last quarter. Finally, Kwmg LLC raised its holdings in Centurylink by 8.8% in the second quarter. Kwmg LLC now owns 94,304 shares of the technology company’s stock worth $1,758,000 after purchasing an additional 7,666 shares in the last quarter. Hedge funds and other institutional investors own 76.38% of the company’s stock.
A number of brokerages recently commented on CTL. Zacks Investment Research upgraded Centurylink from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Friday, November 16th. Moffett Nathanson set a $16.00 target price on Centurylink and gave the stock a “sell” rating in a research note on Monday, November 19th. ValuEngine cut Centurylink from a “buy” rating to a “hold” rating in a report on Friday. Citigroup raised their target price on Centurylink from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, August 9th. Finally, Barclays reiterated a “hold” rating and issued a $21.00 price objective on shares of Centurylink in a research note on Friday, August 10th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $20.92.
Centurylink (NYSE:CTL) last announced its quarterly earnings results on Thursday, November 8th. The technology company reported $0.30 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The company had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.88 billion. Centurylink had a return on equity of 4.45% and a net margin of 7.81%. The firm’s revenue was down 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 earnings per share. Research analysts predict that Centurylink Inc will post 1.15 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Monday, November 26th will be paid a dividend of $0.54 per share. The ex-dividend date is Friday, November 23rd. This represents a $2.16 annualized dividend and a yield of 12.08%. Centurylink’s dividend payout ratio is presently 146.94%.
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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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