Centurylink Inc (NYSE:CTL) Stock Holdings Raised by PVG Asset Management Corp
PVG Asset Management Corp lifted its holdings in Centurylink Inc (NYSE:CTL) by 19.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 416,944 shares of the technology company’s stock after buying an additional 68,924 shares during the quarter. Centurylink makes up about 5.1% of PVG Asset Management Corp’s portfolio, making the stock its 3rd biggest position. PVG Asset Management Corp’s holdings in Centurylink were worth $4,903,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Diversified Trust Co raised its holdings in shares of Centurylink by 51.4% in the second quarter. Diversified Trust Co now owns 34,606 shares of the technology company’s stock worth $407,000 after buying an additional 11,748 shares during the period. Northern Trust Corp raised its holdings in shares of Centurylink by 5.9% in the second quarter. Northern Trust Corp now owns 11,332,131 shares of the technology company’s stock worth $133,266,000 after buying an additional 628,041 shares during the period. BTC Capital Management Inc. raised its holdings in shares of Centurylink by 14.5% in the second quarter. BTC Capital Management Inc. now owns 203,548 shares of the technology company’s stock worth $2,392,000 after buying an additional 25,833 shares during the period. Allstate Corp increased its holdings in Centurylink by 71.6% during the 1st quarter. Allstate Corp now owns 38,123 shares of the technology company’s stock worth $457,000 after purchasing an additional 15,908 shares during the period. Finally, HighTower Advisors LLC increased its holdings in Centurylink by 20.6% during the 2nd quarter. HighTower Advisors LLC now owns 254,897 shares of the technology company’s stock worth $2,991,000 after purchasing an additional 43,579 shares during the period. Hedge funds and other institutional investors own 73.30% of the company’s stock.
CTL has been the topic of several research reports. Guggenheim set a $10.00 price objective on Centurylink and gave the stock a “hold” rating in a report on Wednesday, August 7th. Raymond James upgraded Centurylink from an “underperform” rating to a “market perform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. restated a “buy” rating on shares of Centurylink in a report on Friday, September 13th. Finally, Wells Fargo & Co set a $14.00 price objective on Centurylink and gave the stock a “buy” rating in a report on Monday, August 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. Centurylink currently has an average rating of “Hold” and a consensus price target of $14.59.
Centurylink (NYSE:CTL) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.31 by $0.03. The company had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.59 billion. Centurylink had a positive return on equity of 8.30% and a negative net margin of 34.77%. Centurylink’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the business posted $0.27 EPS. As a group, equities analysts anticipate that Centurylink Inc will post 1.32 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Monday, September 2nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.93%. Centurylink’s dividend payout ratio is presently 84.03%.
CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers in the United States and internationally. The company operates in two segments, Business and Consumer. It offers VPN data network services; Ethernet services; Internet protocol (IP) services; facilities-based Prism TV service, as well as satellite digital television services; CDN services; and Vyvx broadcast services.
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