Centurylink Inc (CTL) Holdings Lifted by State Treasurer State of Michigan
State Treasurer State of Michigan raised its holdings in Centurylink Inc (NYSE:CTL) by 71.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 285,176 shares of the technology company’s stock after purchasing an additional 118,385 shares during the period. State Treasurer State of Michigan’s holdings in Centurylink were worth $4,757,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Fieldpoint Private Securities LLC bought a new position in Centurylink in the 3rd quarter valued at $115,000. Bessemer Group Inc. grew its stake in Centurylink by 132.3% in the 4th quarter. Bessemer Group Inc. now owns 6,264 shares of the technology company’s stock valued at $104,000 after purchasing an additional 3,568 shares during the period. Patriot Financial Group Insurance Agency LLC grew its stake in Centurylink by 178.6% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 6,684 shares of the technology company’s stock valued at $134,000 after purchasing an additional 4,285 shares during the period. Blue Granite Capital LLC bought a new position in Centurylink in the 3rd quarter valued at $136,000. Finally, Barrow Hanley Mewhinney & Strauss LLC grew its stake in Centurylink by 10,329.0% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 7,196 shares of the technology company’s stock valued at $136,000 after purchasing an additional 7,127 shares during the period. Hedge funds and other institutional investors own 42.38% of the company’s stock.
In related news, Director Martha Helena Bejar bought 7,000 shares of the business’s stock in a transaction on Friday, December 8th. The stock was acquired at an average price of $14.28 per share, for a total transaction of $99,960.00. Following the purchase, the director now directly owns 25,991 shares in the company, valued at $371,151.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Virginia Boulet bought 5,095 shares of the business’s stock in a transaction on Monday, December 11th. The stock was bought at an average price of $15.48 per share, with a total value of $78,870.60. Following the purchase, the director now owns 42,820 shares in the company, valued at $662,853.60. The disclosure for this purchase can be found here. Insiders have bought a total of 150,595 shares of company stock valued at $2,154,131 in the last quarter. 0.61% of the stock is owned by corporate insiders.
Centurylink (NYSE:CTL) last posted its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.03). The firm had revenue of $4.03 billion for the quarter, compared to the consensus estimate of $4.06 billion. Centurylink had a return on equity of 7.99% and a net margin of 1.89%. The firm’s revenue was down 7.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS. research analysts forecast that Centurylink Inc will post 1.56 earnings per share for the current fiscal year.
CTL has been the subject of a number of recent analyst reports. Bank of America reduced their price objective on Centurylink from $42.00 to $27.00 and set a “buy” rating for the company in a research note on Friday, November 10th. ValuEngine upgraded Centurylink from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. UBS Group reduced their price objective on Centurylink from $29.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, November 9th. JPMorgan Chase & Co. restated a “buy” rating and issued a $26.00 price objective on shares of Centurylink in a research note on Thursday, November 9th. Finally, Oppenheimer reiterated a “buy” rating and set a $20.00 price target on shares of Centurylink in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $22.37.
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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 Enterprise, 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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