Robeco Institutional Asset Management B.V. Sells 7,302 Shares of CenturyLink, Inc. (CTL)
Robeco Institutional Asset Management B.V. lowered its stake in CenturyLink, Inc. (NYSE:CTL) by 2.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 342,811 shares of the technology company’s stock after selling 7,302 shares during the period. Robeco Institutional Asset Management B.V. owned about 0.06% of CenturyLink worth $8,188,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of CenturyLink by 19.4% in the first quarter. Vanguard Group Inc. now owns 46,767,917 shares of the technology company’s stock valued at $1,102,321,000 after buying an additional 7,600,609 shares in the last quarter. State Street Corp boosted its stake in shares of CenturyLink by 1.0% in the first quarter. State Street Corp now owns 31,157,907 shares of the technology company’s stock valued at $734,384,000 after buying an additional 293,702 shares in the last quarter. American International Group Inc. boosted its stake in shares of CenturyLink by 1.4% in the first quarter. American International Group Inc. now owns 15,944,716 shares of the technology company’s stock valued at $375,817,000 after buying an additional 214,210 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of CenturyLink by 10.0% in the first quarter. Geode Capital Management LLC now owns 6,721,808 shares of the technology company’s stock valued at $158,256,000 after buying an additional 613,038 shares in the last quarter. Finally, Thornburg Investment Management Inc. boosted its stake in shares of CenturyLink by 107.8% in the first quarter. Thornburg Investment Management Inc. now owns 6,521,497 shares of the technology company’s stock valued at $153,712,000 after buying an additional 3,383,155 shares in the last quarter. 83.00% of the stock is owned by hedge funds and other institutional investors.
Shares of CenturyLink, Inc. (NYSE CTL) opened at 20.41 on Thursday. The stock has a 50 day moving average price of $22.08 and a 200 day moving average price of $23.93. The firm has a market cap of $11.22 billion, a P/E ratio of 29.58 and a beta of 0.87. CenturyLink, Inc. has a 12-month low of $18.41 and a 12-month high of $33.45.
CenturyLink (NYSE:CTL) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.49 by $0.03. The business had revenue of $4.09 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 EPS. On average, equities analysts expect that CenturyLink, Inc. will post $1.95 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a dividend yield of 10.58%. The ex-dividend date of this dividend is Thursday, August 31st. CenturyLink’s payout ratio is 313.04%.
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Several analysts have weighed in on CTL shares. ValuEngine raised CenturyLink from a “hold” rating to a “buy” rating in a report on Friday, August 18th. UBS AG set a $29.00 price objective on CenturyLink and gave the stock a “buy” rating in a report on Thursday, June 22nd. BidaskClub cut CenturyLink from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Cowen and Company boosted their price objective on CenturyLink from $25.00 to $27.00 and gave the stock a “market perform” rating in a report on Wednesday, July 5th. Finally, Vetr raised CenturyLink from a “buy” rating to a “strong-buy” rating and set a $27.12 price objective for the company in a report on Monday, May 8th. Five research analysts have rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price 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.
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