CenturyLink, Inc. (CTL) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. raised its position in CenturyLink, Inc. (NYSE:CTL) by 2.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,566,958 shares of the technology company’s stock after buying an additional 36,858 shares during the period. Prudential Financial Inc. owned 0.29% of CenturyLink worth $37,419,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in CTL. State Treasurer State of Michigan raised its stake in shares of CenturyLink by 0.4% in the first quarter. State Treasurer State of Michigan now owns 179,491 shares of the technology company’s stock worth $4,231,000 after buying an additional 700 shares during the last quarter. ING Groep NV raised its stake in shares of CenturyLink by 92.3% in the first quarter. ING Groep NV now owns 83,773 shares of the technology company’s stock worth $1,975,000 after buying an additional 40,204 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its stake in shares of CenturyLink by 1.8% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 157,068 shares of the technology company’s stock worth $3,702,000 after buying an additional 2,719 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in shares of CenturyLink by 1.4% in the first quarter. Great West Life Assurance Co. Can now owns 1,143,470 shares of the technology company’s stock worth $26,941,000 after buying an additional 15,990 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of CenturyLink by 21.4% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 102,621 shares of the technology company’s stock worth $2,419,000 after buying an additional 18,075 shares during the last quarter. 83.00% of the stock is owned by institutional investors.
CenturyLink, Inc. (NYSE:CTL) opened at 19.72 on Friday. The company has a market cap of $10.84 billion, a P/E ratio of 28.58 and a beta of 0.87. CenturyLink, Inc. has a 12-month low of $18.41 and a 12-month high of $33.45. The firm has a 50-day moving average price of $21.77 and a 200-day moving average price of $23.81.
CenturyLink (NYSE:CTL) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The firm had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. CenturyLink’s quarterly revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts forecast that CenturyLink, Inc. will post $1.95 earnings per share for the current fiscal year.
The company 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 annualized dividend and a dividend yield of 10.95%. The ex-dividend date is Thursday, August 31st. CenturyLink’s dividend payout ratio is 313.04%.
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A number of analysts recently commented on the company. ValuEngine lowered CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Jefferies Group LLC dropped their price target on CenturyLink from $26.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, May 4th. Cowen and Company set a $25.00 price target on CenturyLink and gave the stock a “market perform” rating in a research note on Thursday, May 4th. BidaskClub lowered CenturyLink from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $25.00 price target on shares of CenturyLink in a research note on Thursday, May 25th. Five research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $26.15.
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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