Franklin Resources Inc. purchased a new position in Centurylink Inc (NYSE:CTL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,024 shares of the technology company’s stock, valued at approximately $214,000.
Several other institutional investors have also recently made changes to their positions in CTL. Standard Life Aberdeen plc lifted its holdings in shares of Centurylink by 1,216.8% in the fourth quarter. Standard Life Aberdeen plc now owns 6,682,023 shares of the technology company’s stock worth $111,491,000 after buying an additional 6,174,561 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Centurylink by 82.4% in the fourth quarter. Geode Capital Management LLC now owns 10,371,954 shares of the technology company’s stock worth $172,650,000 after buying an additional 4,685,323 shares in the last quarter. ACR Alpine Capital Research LLC purchased a new stake in shares of Centurylink in the fourth quarter worth about $70,510,000. West Family Investments Inc. purchased a new stake in shares of Centurylink in the fourth quarter worth about $42,435,000. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Centurylink in the first quarter worth about $40,751,000. 78.44% of the stock is currently owned by hedge funds and other institutional investors.
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In other Centurylink news, Director Steven T. Clontz purchased 41,000 shares of Centurylink stock in a transaction on Friday, May 11th. The shares were acquired at an average cost of $19.44 per share, for a total transaction of $797,040.00. Following the completion of the transaction, the director now directly owns 162,019 shares of the company’s stock, valued at $3,149,649.36. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Holdings (Private) Ltd Temasek purchased 7,620,118 shares of Centurylink stock in a transaction on Wednesday, April 4th. The shares were acquired at an average price of $16.72 per share, for a total transaction of $127,408,372.96. The disclosure for this purchase can be found here. 0.60% of the stock is owned by company insiders.
Centurylink opened at $18.13 on Tuesday, MarketBeat.com reports. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 1.58. The company has a market capitalization of $19.44 billion, a P/E ratio of 12.33, a P/E/G ratio of -12.86 and a beta of 0.77. Centurylink Inc has a 1-year low of $13.16 and a 1-year high of $25.81.
Centurylink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, May 9th. The technology company reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.06. The company had revenue of $5.95 billion for the quarter, compared to analysts’ expectations of $5.97 billion. Centurylink had a net margin of 6.92% and a return on equity of 4.94%. Centurylink’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.35 earnings per share. sell-side analysts predict that Centurylink Inc will post 0.93 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Monday, June 4th were given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 11.91%. The ex-dividend date of this dividend was Friday, June 1st. Centurylink’s payout ratio is currently 146.94%.
CTL has been the topic of a number of recent analyst reports. Bank of America set a $27.00 price target on shares of Centurylink and gave the stock a “buy” rating in a report on Wednesday, February 21st. ValuEngine downgraded shares of Centurylink from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised shares of Centurylink from a “sell” rating to a “hold” rating in a report on Friday, March 16th. Guggenheim started coverage on shares of Centurylink in a report on Tuesday, March 13th. They issued a “neutral” rating and a $17.00 price target on the stock. Finally, Macquarie cut shares of Centurylink from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $27.61 to $18.00 in a research report on Wednesday, May 16th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $21.00.
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.