Westpac Banking Corp boosted its holdings in shares of Centurylink Inc (NYSE:CTL) by 89.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,410 shares of the technology company’s stock after buying an additional 88,700 shares during the period. Westpac Banking Corp’s holdings in Centurylink were worth $2,216,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CTL. Crossmark Global Holdings Inc. lifted its holdings in shares of Centurylink by 0.7% during the first quarter. Crossmark Global Holdings Inc. now owns 140,428 shares of the technology company’s stock valued at $1,684,000 after acquiring an additional 910 shares during the period. Zeke Capital Advisors LLC raised its holdings in shares of Centurylink by 7.0% in the second quarter. Zeke Capital Advisors LLC now owns 15,037 shares of the technology company’s stock valued at $177,000 after buying an additional 981 shares during the last quarter. Securian Asset Management Inc raised its holdings in shares of Centurylink by 1.0% in the first quarter. Securian Asset Management Inc now owns 97,237 shares of the technology company’s stock valued at $1,166,000 after buying an additional 987 shares during the last quarter. Focused Wealth Management Inc raised its holdings in shares of Centurylink by 12.7% in the second quarter. Focused Wealth Management Inc now owns 8,845 shares of the technology company’s stock valued at $104,000 after buying an additional 1,000 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its holdings in shares of Centurylink by 2.9% in the first quarter. Dynamic Technology Lab Private Ltd now owns 36,442 shares of the technology company’s stock valued at $437,000 after buying an additional 1,042 shares during the last quarter. Hedge funds and other institutional investors own 75.51% of the company’s stock.

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. cut Centurylink from a “neutral” rating to an “underweight” rating and set a $10.00 price target for the company. in a report on Thursday, August 8th. Raymond James raised Centurylink from an “underperform” rating to a “market perform” rating in a report on Thursday, August 8th. Citigroup raised Centurylink from a “sell” rating to a “neutral” rating in a report on Thursday, May 9th. Guggenheim set a $10.00 price target on Centurylink and gave the company a “hold” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Co set a $14.00 price target on Centurylink and gave the company a “buy” rating in a report on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $14.96.

In other news, insider William Bruce Hanks acquired 10,000 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average cost of $10.63 per share, with a total value of $106,300.00. Following the acquisition, the insider now owns 92,172 shares of the company’s stock, valued at approximately $979,788.36. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey K. Storey acquired 50,000 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average cost of $9.83 per share, with a total value of $491,500.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,240,001 shares in the company, valued at approximately $31,849,209.83. The disclosure for this purchase can be found here. Insiders have acquired a total of 95,000 shares of company stock valued at $941,550 over the last three months. Company insiders own 0.50% of the company’s stock.

NYSE:CTL traded up $0.65 on Friday, hitting $11.21. 11,132,200 shares of the stock were exchanged, compared to its average volume of 12,636,102. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 0.75 and a beta of 0.85. Centurylink Inc has a 52 week low of $9.64 and a 52 week high of $24.20. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.71 and a current ratio of 0.60. The company’s 50-day moving average price is $11.62 and its 200 day moving average price is $11.90.

Centurylink (NYSE:CTL) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.03. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.59 billion. Centurylink had a positive return on equity of 8.30% and a negative net margin of 34.77%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.27 EPS. As a group, equities research analysts predict that Centurylink Inc will post 1.31 earnings per share for the current year.

Centurylink Company Profile

CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.

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Institutional Ownership by Quarter for Centurylink (NYSE:CTL)

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