Virginia Retirement Systems ET AL Buys Shares of 126,500 CenturyLink Inc. (CTL)
Virginia Retirement Systems ET AL bought a new stake in CenturyLink Inc. (NYSE:CTL) during the second quarter, Holdings Channel reports. The fund bought 126,500 shares of the company’s stock, valued at approximately $3,670,000.
A number of other large investors have also added to or reduced their stakes in CTL. PineBridge Investments L.P. boosted its stake in CenturyLink by 5.6% in the second quarter. PineBridge Investments L.P. now owns 350,334 shares of the company’s stock valued at $10,163,000 after buying an additional 18,513 shares in the last quarter. Vanguard Group Inc. boosted its stake in CenturyLink by 5.0% in the second quarter. Vanguard Group Inc. now owns 38,015,493 shares of the company’s stock valued at $1,102,830,000 after buying an additional 1,815,294 shares in the last quarter. Brown Advisory Inc. boosted its stake in CenturyLink by 13.3% in the second quarter. Brown Advisory Inc. now owns 13,781 shares of the company’s stock valued at $399,000 after buying an additional 1,619 shares in the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its stake in CenturyLink by 14.7% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,892 shares of the company’s stock valued at $113,000 after buying an additional 500 shares in the last quarter. Finally, Prudential Financial Inc. boosted its stake in CenturyLink by 3.3% in the second quarter. Prudential Financial Inc. now owns 1,348,342 shares of the company’s stock valued at $39,115,000 after buying an additional 42,637 shares in the last quarter. 73.32% of the stock is owned by institutional investors and hedge funds.
Shares of CenturyLink Inc. (NYSE:CTL) opened at 26.92 on Thursday. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 15.07 and a beta of 0.80. CenturyLink Inc. has a one year low of $21.94 and a one year high of $32.94. The company’s 50-day moving average price is $28.70 and its 200-day moving average price is $29.56.
CenturyLink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. CenturyLink had a return on equity of 11.02% and a net margin of 5.47%. The company had revenue of $440 billion for the quarter, compared to the consensus estimate of $4.39 billion. During the same quarter in the previous year, the business earned $0.55 EPS. CenturyLink’s revenue was down .5% compared to the same quarter last year. On average, equities research analysts predict that CenturyLink Inc. will post $2.53 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Investors of record on Friday, September 2nd were issued a dividend of $0.54 per share. The ex-dividend date was Wednesday, August 31st. This represents a $2.16 dividend on an annualized basis and a yield of 8.02%. CenturyLink’s dividend payout ratio is presently 120.67%.
Several research firms recently commented on CTL. Macquarie reaffirmed a “neutral” rating and set a $30.00 target price (down previously from $31.00) on shares of CenturyLink in a research note on Tuesday, September 13th. Jefferies Group reiterated a “sell” rating on shares of CenturyLink in a report on Friday, September 2nd. Vetr upgraded CenturyLink from a “hold” rating to a “buy” rating and set a $29.33 price target on the stock in a report on Wednesday, August 31st. RBC Capital Markets reiterated a “sector perform” rating and issued a $31.00 price target (up previously from $29.00) on shares of CenturyLink in a report on Wednesday, August 10th. Finally, Royal Bank Of Canada increased their price target on CenturyLink from $29.00 to $31.00 and gave the stock a “sector perform” rating in a report on Monday, August 8th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $28.37.
In other CenturyLink news, Director Harvey P. Perry sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $31.00, for a total transaction of $620,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.
CenturyLink Company Profile
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.
Want to see what other hedge funds are holding CTL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CenturyLink Inc. (NYSE:CTL).
Receive News & Ratings for CenturyLink Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CenturyLink Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.