Trutina Financial LLC Invests $2,788,000 in CenturyLink Inc. (CTL)
Trutina Financial LLC purchased a new position in shares of CenturyLink Inc. (NYSE:CTL) during the second quarter, Holdings Channel reports. The firm purchased 96,093 shares of the company’s stock, valued at approximately $2,788,000. CenturyLink comprises 3.4% of Trutina Financial LLC’s portfolio, making the stock its 8th largest position.
Several other hedge funds have also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of CenturyLink during the fourth quarter worth about $74,441,000. NN Investment Partners Holdings N.V. bought a new stake in CenturyLink during the first quarter worth $36,414,000. Bank of Montreal Can bought a new stake in CenturyLink during the second quarter worth $28,172,000. AXA bought a new stake in CenturyLink during the first quarter worth $27,892,000. Finally, Old Mutual Global Investors UK Ltd. raised its stake in CenturyLink by 57.2% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 2,355,625 shares of the company’s stock worth $68,336,000 after buying an additional 857,345 shares in the last quarter. Hedge funds and other institutional investors own 73.86% of the company’s stock.
Shares of CenturyLink Inc. (NYSE:CTL) traded up 0.56% during midday trading on Monday, reaching $27.04. The company’s stock had a trading volume of 4,457,047 shares. The company has a 50 day moving average of $28.93 and a 200-day moving average of $29.62. The stock has a market capitalization of $14.76 billion, a price-to-earnings ratio of 15.14 and a beta of 0.80. CenturyLink Inc. has a 52 week low of $21.94 and a 52 week high of $32.94.
CenturyLink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. CenturyLink had a net margin of 5.47% and a return on equity of 11.02%. The firm earned $440 billion during the quarter, compared to analyst estimates of $4.39 billion. During the same quarter in the prior year, the business posted $0.55 earnings per share. CenturyLink’s revenue for the quarter was down .5% compared to the same quarter last year. Equities research analysts predict that CenturyLink Inc. will post $2.53 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were given a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 7.99%. The ex-dividend date was Wednesday, August 31st. CenturyLink’s payout ratio is currently 120.67%.
A number of analysts have weighed in on CTL shares. Evercore ISI started coverage on CenturyLink in a report on Tuesday, June 21st. They set a “hold” rating and a $28.00 target price for the company. Vetr upgraded CenturyLink from a “sell” rating to a “hold” rating and set a $29.00 target price for the company in a report on Tuesday, August 16th. Royal Bank Of Canada upped their target price on CenturyLink from $29.00 to $31.00 and gave the stock a “sector perform” rating in a report on Monday, August 8th. Zacks Investment Research lowered CenturyLink from a “buy” rating to a “hold” rating in a report on Friday, August 5th. Finally, Morgan Stanley lowered CenturyLink from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $31.00 to $27.00 in a report on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. CenturyLink presently has a consensus rating of “Hold” and a consensus target price of $28.37.
In other news, Director Harvey P. Perry sold 20,000 shares of the stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $31.00, for a total value of $620,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.61% of the stock is currently owned by insiders.
CenturyLink, Inc is an integrated communications company. The Company is engaged in providing an array of communications services to residential and business customers. The Company’s segments include Business and Consumer. Its communications services include local and long-distance voice, high-speed Internet, Multi-Protocol Label Switching (MPLS), private line (including special access), data integration, Ethernet, colocation, managed hosting (including cloud hosting), network, public access, video, wireless and other ancillary services.
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