Exane Asset Management Takes Position in Centurylink Inc (CTL)
Exane Asset Management bought a new position in shares of Centurylink Inc (NYSE:CTL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,060 shares of the technology company’s stock, valued at approximately $289,000.
Other large investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA bought a new position in Centurylink during the third quarter worth $27,149,000. Fifth Third Bancorp boosted its holdings in Centurylink by 1,430.9% during the third quarter. Fifth Third Bancorp now owns 1,226,910 shares of the technology company’s stock worth $26,010,000 after purchasing an additional 1,146,769 shares during the last quarter. Teachers Advisors LLC boosted its holdings in Centurylink by 20.4% during the third quarter. Teachers Advisors LLC now owns 4,456,534 shares of the technology company’s stock worth $94,479,000 after purchasing an additional 754,769 shares during the last quarter. Systematic Financial Management LP purchased a new position in Centurylink during the third quarter worth about $13,939,000. Finally, FMR LLC boosted its holdings in Centurylink by 52.0% during the third quarter. FMR LLC now owns 1,844,265 shares of the technology company’s stock worth $39,098,000 after purchasing an additional 631,303 shares during the last quarter. Hedge funds and other institutional investors own 75.53% of the company’s stock.
CTL has been the subject of a number of research reports. Zacks Investment Research raised shares of Centurylink from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, November 16th. ValuEngine lowered shares of Centurylink from a “hold” rating to a “sell” rating in a report on Tuesday, February 5th. Cowen reiterated a “hold” rating and set a $21.00 price target on shares of Centurylink in a report on Friday, November 9th. Finally, Oppenheimer decreased their price objective on shares of Centurylink from $24.00 to $22.00 and set an “outperform” rating for the company in a report on Friday, November 9th. Seven investment analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Centurylink presently has an average rating of “Hold” and a consensus target price of $20.12.
Centurylink (NYSE:CTL) last announced its earnings results on Thursday, November 8th. The technology company reported $0.30 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.30. Centurylink had a net margin of 7.81% and a return on equity of 4.45%. The business had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.88 billion. During the same period in the previous year, the company posted $0.42 earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. On average, sell-side analysts anticipate that Centurylink Inc will post 1.15 EPS for the current fiscal year.
In other news, Director Steven T. Clontz acquired 8,207 shares of Centurylink stock in a transaction that occurred on Tuesday, December 11th. The stock was purchased at an average cost of $17.20 per share, with a total value of $141,160.40. Following the purchase, the director now owns 178,970 shares in the company, valued at $3,078,284. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Scott Trezise sold 53,164 shares of the firm’s stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $18.88, for a total value of $1,003,736.32. Following the completion of the sale, the executive vice president now directly owns 187,867 shares of the company’s stock, valued at $3,546,928.96. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.
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CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.
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