Pinnacle Associates Ltd. grew its position in shares of Centurylink Inc (NYSE:CTL) by 40.8% in the 4th quarter, Holdings Channel reports. The fund owned 205,368 shares of the technology company’s stock after acquiring an additional 59,488 shares during the period. Pinnacle Associates Ltd.’s holdings in Centurylink were worth $3,426,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in CTL. ACR Alpine Capital Research LLC acquired a new stake in Centurylink during the fourth quarter worth about $70,510,000. Beck Mack & Oliver LLC increased its stake in Centurylink by 352.4% during the fourth quarter. Beck Mack & Oliver LLC now owns 4,265,697 shares of the technology company’s stock worth $71,152,000 after acquiring an additional 3,322,807 shares during the last quarter. Sei Investments Co. increased its stake in Centurylink by 8,016.1% during the fourth quarter. Sei Investments Co. now owns 1,936,818 shares of the technology company’s stock worth $32,306,000 after acquiring an additional 1,912,954 shares during the last quarter. Gabelli Funds LLC increased its stake in Centurylink by 482.2% during the fourth quarter. Gabelli Funds LLC now owns 2,186,066 shares of the technology company’s stock worth $36,464,000 after acquiring an additional 1,810,566 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in Centurylink by 61.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 4,358,192 shares of the technology company’s stock worth $72,695,000 after acquiring an additional 1,658,861 shares during the last quarter. Institutional investors own 59.37% of the company’s stock.
A number of research firms have recently issued reports on CTL. Bank of America set a $27.00 target price on Centurylink and gave the company a “buy” rating in a research note on Wednesday. Zacks Investment Research lowered Centurylink from a “hold” rating to a “sell” rating in a research note on Monday, February 19th. Barclays reiterated a “hold” rating and issued a $17.00 target price on shares of Centurylink in a research note on Friday, February 16th. Cowen set a $19.00 target price on Centurylink and gave the company a “hold” rating in a research note on Thursday, February 15th. Finally, ValuEngine lowered Centurylink from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $22.08.
In other Centurylink news, Director Virginia Boulet purchased 5,095 shares of Centurylink stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average price of $15.48 per share, with a total value of $78,870.60. Following the completion of the acquisition, the director now owns 42,820 shares of the company’s stock, valued at approximately $662,853.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jeffrey K. Storey purchased 71,000 shares of Centurylink stock in a transaction that occurred on Friday, December 8th. The stock was acquired at an average cost of $14.30 per share, with a total value of $1,015,300.00. Following the acquisition, the chief operating officer now directly owns 2,498,668 shares of the company’s stock, valued at approximately $35,730,952.40. The disclosure for this purchase can be found here. Insiders purchased 150,595 shares of company stock valued at $2,154,131 in the last three months. 0.61% of the stock is currently owned by company insiders.
Centurylink Inc (CTL) opened at $18.21 on Friday. The company has a market capitalization of $19,470.00, a PE ratio of 6.07, a P/E/G ratio of -10.05 and a beta of 0.82. Centurylink Inc has a 1-year low of $13.16 and a 1-year high of $27.61. The company has a quick ratio of 0.82, a current ratio of 0.86 and a debt-to-equity ratio of 1.59.
Centurylink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, February 14th. The technology company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.14). The business had revenue of $5.32 billion during the quarter, compared to analysts’ expectations of $5.69 billion. Centurylink had a net margin of 7.87% and a return on equity of 5.88%. During the same period in the prior year, the company posted $0.54 EPS. equities analysts forecast that Centurylink Inc will post 0.82 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Monday, March 5th will be issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 11.86%. The ex-dividend date of this dividend is Friday, March 2nd. Centurylink’s dividend payout ratio is currently 72.00%.
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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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