Centurylink Inc (CTL) Shares Sold by California State Teachers Retirement System
California State Teachers Retirement System lessened its holdings in shares of Centurylink Inc (NYSE:CTL) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,004,134 shares of the technology company’s stock after selling 32,038 shares during the period. California State Teachers Retirement System owned 0.18% of Centurylink worth $18,978,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Centurylink by 22.6% during the 2nd quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock worth $1,369,547,000 after acquiring an additional 10,583,246 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Centurylink by 6.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 10,289,893 shares of the technology company’s stock worth $194,498,000 after buying an additional 600,462 shares during the last quarter. Northern Trust Corp grew its stake in Centurylink by 1.4% during the 2nd quarter. Northern Trust Corp now owns 6,978,167 shares of the technology company’s stock worth $166,639,000 after buying an additional 95,821 shares during the last quarter. Capital World Investors purchased a new position in Centurylink during the 2nd quarter worth approximately $142,086,000. Finally, Epoch Investment Partners Inc. grew its stake in Centurylink by 5.2% during the 2nd quarter. Epoch Investment Partners Inc. now owns 4,974,938 shares of the technology company’s stock worth $118,801,000 after buying an additional 244,347 shares during the last quarter. 82.32% of the stock is currently owned by institutional investors and hedge funds.
Centurylink Inc (CTL) opened at $17.15 on Thursday. Centurylink Inc has a 12 month low of $13.16 and a 12 month high of $27.61. The firm has a market capitalization of $18,600.65, a P/E ratio of 8.97, a price-to-earnings-growth ratio of -5.58 and a beta of 0.79. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.92.
The business also recently announced a quarterly dividend, which was paid on Monday, December 11th. Shareholders of record on Monday, November 27th were paid a $0.54 dividend. The ex-dividend date was Friday, November 24th. This represents a $2.16 annualized dividend and a dividend yield of 12.59%. Centurylink’s dividend payout ratio (DPR) is currently 372.42%.
In related news, CEO Glen F. Post III bought 50,000 shares of the stock in a transaction on Friday, December 8th. The shares were bought at an average cost of $14.17 per share, for a total transaction of $708,500.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Virginia Boulet bought 5,095 shares of the stock in a transaction on Monday, December 11th. The stock was bought at an average price of $15.48 per share, for a total transaction of $78,870.60. Following the completion of the purchase, the director now directly owns 42,820 shares in the company, valued at approximately $662,853.60. The disclosure for this purchase can be found here. Insiders acquired a total of 150,595 shares of company stock worth $2,154,131 over the last quarter. Company insiders own 0.61% of the company’s stock.
A number of research firms recently issued reports on CTL. Barclays upgraded Centurylink from an “underweight” rating to an “equal weight” rating and set a $16.00 price target on the stock in a research note on Friday, December 15th. Jefferies Group restated a “hold” rating and set a $22.00 price target on shares of Centurylink in a research note on Tuesday, October 3rd. Royal Bank of Canada restated a “hold” rating and set a $25.00 price target on shares of Centurylink in a research note on Monday, September 18th. Zacks Investment Research downgraded Centurylink from a “hold” rating to a “strong sell” rating in a research note on Friday, August 25th. Finally, Morgan Stanley dropped their price target on Centurylink from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 23rd. Four analysts have rated the stock with a sell rating, eight have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Centurylink presently has a consensus rating of “Hold” and an average target price of $22.87.
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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 business, 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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