Reaves W H & Co. Inc. raised its stake in CenturyLink, Inc. (NYSE:CTL) by 202.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,571,283 shares of the technology company’s stock after buying an additional 1,051,883 shares during the period. CenturyLink comprises approximately 1.4% of Reaves W H & Co. Inc.’s portfolio, making the stock its 29th largest position. Reaves W H & Co. Inc. owned 0.29% of CenturyLink worth $37,522,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of CTL. Vanguard Group Inc. boosted its position in CenturyLink by 19.4% in the first quarter. Vanguard Group Inc. now owns 46,767,917 shares of the technology company’s stock worth $1,102,321,000 after buying an additional 7,600,609 shares during the last quarter. State Street Corp boosted its position in CenturyLink by 1.0% in the first quarter. State Street Corp now owns 31,157,907 shares of the technology company’s stock worth $734,384,000 after buying an additional 293,702 shares during the last quarter. American International Group Inc. boosted its position in CenturyLink by 1.4% in the first quarter. American International Group Inc. now owns 15,944,716 shares of the technology company’s stock worth $375,817,000 after buying an additional 214,210 shares during the last quarter. Geode Capital Management LLC boosted its position in CenturyLink by 10.0% in the first quarter. Geode Capital Management LLC now owns 6,721,808 shares of the technology company’s stock worth $158,256,000 after buying an additional 613,038 shares during the last quarter. Finally, Thornburg Investment Management Inc. boosted its position in CenturyLink by 107.8% in the first quarter. Thornburg Investment Management Inc. now owns 6,521,497 shares of the technology company’s stock worth $153,712,000 after buying an additional 3,383,155 shares during the last quarter. 77.77% of the stock is owned by institutional investors and hedge funds.

Shares of CenturyLink, Inc. (CTL) traded up 0.85% during trading on Friday, hitting $20.23. 6,529,342 shares of the company traded hands. The company has a 50 day moving average price of $22.08 and a 200 day moving average price of $23.93. The company has a market capitalization of $11.12 billion, a price-to-earnings ratio of 29.32 and a beta of 0.87. CenturyLink, Inc. has a 52 week low of $18.41 and a 52 week high of $33.45. CenturyLink also was the target of unusually large options trading activity on Wednesday. Stock investors purchased 14,867 put options on the stock. This is an increase of approximately 362% compared to the typical daily volume of 3,216 put options.

CenturyLink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.09 billion. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. On average, analysts expect that CenturyLink, Inc. will post $1.95 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th will be given a dividend of $0.54 per share. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $2.16 annualized dividend and a dividend yield of 10.68%. CenturyLink’s dividend payout ratio is presently 313.04%.

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CTL has been the topic of a number of analyst reports. ValuEngine upgraded shares of CenturyLink from a “hold” rating to a “buy” rating in a research report on Friday, August 18th. UBS AG set a $29.00 price objective on shares of CenturyLink and gave the company a “buy” rating in a research report on Thursday, June 22nd. BidaskClub cut shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Cowen and Company boosted their price objective on shares of CenturyLink from $25.00 to $27.00 and gave the company a “market perform” rating in a research report on Wednesday, July 5th. Finally, Vetr upgraded shares of CenturyLink from a “buy” rating to a “strong-buy” rating and set a $27.12 price objective on the stock in a research report on Monday, May 8th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $26.15.

CenturyLink Company Profile

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 business, 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.

Institutional Ownership by Quarter for CenturyLink (NYSE:CTL)

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