CIBC Private Wealth Group LLC Grows Holdings in Centurylink Inc (NYSE:CTL)

CIBC Private Wealth Group LLC lifted its holdings in shares of Centurylink Inc (NYSE:CTL) by 96.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,879 shares of the technology company’s stock after acquiring an additional 9,757 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Centurylink were worth $238,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Legacy Advisors LLC purchased a new stake in Centurylink in the first quarter valued at approximately $25,000. Doyle Wealth Management purchased a new position in shares of Centurylink in the fourth quarter worth $35,000. Pearl River Capital LLC bought a new stake in Centurylink in the fourth quarter valued at $42,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of Centurylink by 34.6% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 3,513 shares of the technology company’s stock valued at $53,000 after buying an additional 904 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of Centurylink by 447.0% during the 1st quarter. Lindbrook Capital LLC now owns 4,409 shares of the technology company’s stock valued at $52,000 after buying an additional 3,603 shares in the last quarter. Institutional investors and hedge funds own 74.33% of the company’s stock.

In other news, insider William Bruce Hanks bought 10,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $10.63 per share, for a total transaction of $106,300.00. Following the transaction, the insider now owns 92,172 shares of the company’s stock, valued at $979,788.36. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Indraneel Dev purchased 15,000 shares of the firm’s stock in a transaction on Thursday, May 23rd. The stock was acquired at an average price of $9.81 per share, with a total value of $147,150.00. Following the completion of the transaction, the chief financial officer now owns 471,053 shares in the company, valued at approximately $4,621,029.93. The disclosure for this purchase can be found here. Insiders have acquired 142,000 shares of company stock valued at $1,455,160 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. lowered Centurylink from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $27.00 to $14.00 in a research report on Thursday, February 14th. UBS Group downgraded Centurylink from a “buy” rating to a “neutral” rating and lowered their target price for the company from $24.00 to $14.00 in a research report on Thursday, February 14th. ValuEngine lowered Centurylink from a “sell” rating to a “strong sell” rating in a report on Thursday, February 14th. TheStreet lowered Centurylink from a “c” rating to a “d+” rating in a research note on Wednesday, February 13th. Finally, Zacks Investment Research upgraded Centurylink from a “sell” rating to a “hold” rating in a research note on Friday, February 15th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $16.58.

Shares of CTL stock opened at $10.67 on Wednesday. The company has a debt-to-equity ratio of 2.68, a current ratio of 0.71 and a quick ratio of 0.71. Centurylink Inc has a 52 week low of $9.64 and a 52 week high of $24.20. The company has a market capitalization of $11.50 billion, a price-to-earnings ratio of 8.97, a P/E/G ratio of 0.91 and a beta of 0.72.

Centurylink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.07. Centurylink had a positive return on equity of 6.89% and a negative net margin of 34.62%. The company had revenue of $5.65 billion for the quarter, compared to analysts’ expectations of $5.71 billion. During the same quarter in the prior year, the company earned $0.25 earnings per share. The firm’s revenue was down 5.0% on a year-over-year basis. On average, analysts predict that Centurylink Inc will post 1.32 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Monday, June 3rd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.37%. The ex-dividend date is Friday, May 31st. Centurylink’s dividend payout ratio (DPR) is 84.03%.

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About Centurylink

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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