Amalgamated Bank Acquires 22,982 Shares of CenturyLink, Inc. (CTL)
Amalgamated Bank raised its holdings in shares of CenturyLink, Inc. (NYSE:CTL) by 60.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 60,881 shares of the technology company’s stock after acquiring an additional 22,982 shares during the period. Amalgamated Bank’s holdings in CenturyLink were worth $1,454,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of CTL. Endurance Wealth Management Inc. raised its position in shares of CenturyLink by 18.5% during the 2nd quarter. Endurance Wealth Management Inc. now owns 4,650 shares of the technology company’s stock valued at $111,000 after acquiring an additional 725 shares during the last quarter. FNY Managed Accounts LLC bought a new stake in shares of CenturyLink during the 1st quarter valued at $120,000. Exane Derivatives raised its position in shares of CenturyLink by 27.6% during the 2nd quarter. Exane Derivatives now owns 6,645 shares of the technology company’s stock valued at $159,000 after acquiring an additional 1,436 shares during the last quarter. Greenleaf Trust bought a new stake in shares of CenturyLink during the 2nd quarter valued at $211,000. Finally, First City Capital Management Inc. bought a new stake in shares of CenturyLink during the 1st quarter valued at $215,000. Institutional investors own 83.04% of the company’s stock.
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CenturyLink, Inc. (NYSE:CTL) opened at 18.49 on Friday. The firm has a market cap of $10.16 billion, a price-to-earnings ratio of 26.80 and a beta of 0.89. CenturyLink, Inc. has a one year low of $18.17 and a one year high of $33.45. The stock has a 50 day moving average of $20.32 and a 200 day moving average of $23.33.
CenturyLink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.03). CenturyLink had a net margin of 2.20% and a return on equity of 8.43%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same period last year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities research analysts predict that CenturyLink, Inc. will post $1.94 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 11.68%. The ex-dividend date was Thursday, August 31st. CenturyLink’s dividend payout ratio is currently 313.04%.
Several analysts have commented on CTL shares. Royal Bank Of Canada reiterated a “hold” rating and set a $25.00 target price on shares of CenturyLink in a research report on Thursday, May 25th. ValuEngine cut shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub cut shares of CenturyLink from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. UBS AG set a $29.00 target price on shares of CenturyLink and gave the company a “buy” rating in a research report on Thursday, June 22nd. Finally, Barclays PLC dropped their target price on shares of CenturyLink from $24.00 to $23.00 and set an “underweight” rating for the company in a research report on Thursday, June 29th. Five equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus 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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