Centurylink Inc (NYSE:CTL) Shares Sold by River & Mercantile Asset Management LLP
River & Mercantile Asset Management LLP cut its stake in Centurylink Inc (NYSE:CTL) by 49.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 105,000 shares of the technology company’s stock after selling 102,000 shares during the quarter. River & Mercantile Asset Management LLP’s holdings in Centurylink were worth $1,236,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in CTL. Coastal Investment Advisors Inc. raised its stake in shares of Centurylink by 563.7% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,197 shares of the technology company’s stock worth $25,000 after buying an additional 1,866 shares during the period. AGF Investments LLC purchased a new stake in shares of Centurylink during the second quarter worth approximately $38,000. NEXT Financial Group Inc increased its position in shares of Centurylink by 279.8% during the second quarter. NEXT Financial Group Inc now owns 3,699 shares of the technology company’s stock worth $44,000 after purchasing an additional 2,725 shares in the last quarter. CSat Investment Advisory L.P. increased its position in shares of Centurylink by 96.5% during the second quarter. CSat Investment Advisory L.P. now owns 3,934 shares of the technology company’s stock worth $46,000 after purchasing an additional 1,932 shares in the last quarter. Finally, Ossiam purchased a new stake in shares of Centurylink during the second quarter worth approximately $63,000. 73.30% of the stock is owned by institutional investors.
Several analysts recently commented on the company. Raymond James upgraded Centurylink from an “underperform” rating to a “market perform” rating in a research report on Thursday, August 8th. ValuEngine upgraded Centurylink from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Co set a $14.00 target price on Centurylink and gave the company a “buy” rating in a report on Monday, August 12th. JPMorgan Chase & Co. restated a “buy” rating on shares of Centurylink in a report on Friday, September 13th. Finally, Guggenheim set a $10.00 target price on Centurylink and gave the company a “hold” rating in a report on Friday, September 27th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. Centurylink presently has an average rating of “Hold” and a consensus target price of $14.59.
Centurylink (NYSE:CTL) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.03. Centurylink had a positive return on equity of 8.30% and a negative net margin of 34.77%. The business had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.59 billion. During the same quarter in the prior year, the business posted $0.27 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Centurylink Inc will post 1.35 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Monday, September 2nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.70%. Centurylink’s payout ratio is currently 84.03%.
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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