Schroder Investment Management Group Reduces Position in CenturyLink, Inc. (CTL)
Schroder Investment Management Group lowered its stake in CenturyLink, Inc. (NYSE:CTL) by 80.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 229,672 shares of the technology company’s stock after selling 956,513 shares during the quarter. Schroder Investment Management Group’s holdings in CenturyLink were worth $5,553,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of CTL. Strs Ohio boosted its holdings in CenturyLink by 3.9% in the first quarter. Strs Ohio now owns 31,721 shares of the technology company’s stock worth $747,000 after purchasing an additional 1,202 shares during the last quarter. Boston Partners purchased a new stake in CenturyLink in the first quarter worth approximately $537,000. UBS Asset Management Americas Inc. boosted its holdings in CenturyLink by 38.4% in the first quarter. UBS Asset Management Americas Inc. now owns 2,819,654 shares of the technology company’s stock worth $66,459,000 after purchasing an additional 782,886 shares during the last quarter. Sei Investments Co. boosted its holdings in CenturyLink by 104.2% in the first quarter. Sei Investments Co. now owns 89,089 shares of the technology company’s stock worth $2,100,000 after purchasing an additional 45,453 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in CenturyLink in the first quarter worth approximately $221,000. Institutional investors own 83.04% of the company’s stock.
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Several equities research analysts recently issued reports on CTL shares. Cowen and Company raised their target price on shares of CenturyLink from $25.00 to $27.00 and gave the stock a “market perform” rating in a report on Wednesday, July 5th. BidaskClub cut shares of CenturyLink from a “hold” rating to a “sell” rating in a research note on Friday, August 11th. ValuEngine cut shares of CenturyLink from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Royal Bank Of Canada reiterated a “hold” rating and set a $25.00 price target on shares of CenturyLink in a research note on Thursday, May 25th. Finally, Barclays PLC dropped their price target on shares of CenturyLink from $24.00 to $23.00 and set an “underweight” rating on the stock in a research note on Thursday, June 29th. Five equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $26.15.
Shares of CenturyLink, Inc. (NYSE CTL) opened at 18.32 on Tuesday. The company has a market capitalization of $10.07 billion, a P/E ratio of 26.55 and a beta of 0.89. The firm has a 50-day moving average of $20.45 and a 200-day moving average of $23.36. CenturyLink, Inc. has a one year low of $18.17 and a one year high of $33.45.
CenturyLink (NYSE:CTL) last posted its quarterly earnings data 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 company had revenue of $4.09 billion for the quarter, compared to analysts’ expectations of $4.09 billion. CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The business’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 earned $0.63 earnings per share. Analysts forecast that CenturyLink, Inc. will post $1.94 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Tuesday, September 5th were issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a yield of 11.79%. The ex-dividend date was Thursday, August 31st. CenturyLink’s payout ratio is 313.04%.
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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