DekaBank Deutsche Girozentrale Purchases 998,029 Shares of CenturyLink, Inc. (CTL)
DekaBank Deutsche Girozentrale boosted its position in CenturyLink, Inc. (NYSE:CTL) by 310.7% during the second quarter, Holdings Channel reports. The firm owned 1,319,198 shares of the technology company’s stock after buying an additional 998,029 shares during the period. DekaBank Deutsche Girozentrale’s holdings in CenturyLink were worth $31,934,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Cleararc Capital Inc. increased its position in CenturyLink by 0.7% in the first quarter. Cleararc Capital Inc. now owns 13,386 shares of the technology company’s stock worth $316,000 after buying an additional 93 shares during the period. Wellington Shields & Co. LLC increased its position in CenturyLink by 1.1% in the second quarter. Wellington Shields & Co. LLC now owns 9,202 shares of the technology company’s stock worth $220,000 after buying an additional 99 shares during the period. Bollard Group LLC increased its position in CenturyLink by 0.8% in the first quarter. Bollard Group LLC now owns 13,754 shares of the technology company’s stock worth $324,000 after buying an additional 103 shares during the period. BB&T Corp increased its position in CenturyLink by 0.8% in the first quarter. BB&T Corp now owns 14,033 shares of the technology company’s stock worth $331,000 after buying an additional 109 shares during the period. Finally, First Manhattan Co. increased its position in CenturyLink by 0.3% in the second quarter. First Manhattan Co. now owns 37,199 shares of the technology company’s stock worth $888,000 after buying an additional 126 shares during the period. 78.04% of the stock is owned by hedge funds and other institutional investors.
Shares of CenturyLink, Inc. (NYSE:CTL) opened at 21.68 on Friday. The company has a market cap of $11.92 billion, a PE ratio of 31.42 and a beta of 0.87. CenturyLink, Inc. has a 1-year low of $21.61 and a 1-year high of $33.45. The company has a 50-day moving average price of $23.25 and a 200-day moving average price of $24.35. CenturyLink also was the target of unusually large options trading on Tuesday. Traders acquired 20,516 call options on the stock. This is an increase of approximately 363% compared to the typical daily volume of 4,432 call options.
CenturyLink (NYSE:CTL) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by $0.03. CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The business had revenue of $4.09 billion during the quarter, compared to analysts’ expectations of $4.09 billion. During the same period in the prior year, the firm posted $0.63 EPS. The firm’s revenue for the quarter was down 7.0% on a year-over-year basis. Equities research analysts expect that CenturyLink, Inc. will post $1.95 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the company. UBS AG set a $29.00 price target on CenturyLink and gave the stock a “buy” rating in a research report on Thursday, June 22nd. Jefferies Group LLC cut their price objective on CenturyLink from $26.00 to $23.00 and set a “hold” rating for the company in a report on Thursday, May 4th. Bank of America Corporation reissued a “buy” rating on shares of CenturyLink in a report on Tuesday, May 9th. Cowen and Company set a $25.00 price objective on CenturyLink and gave the company a “market perform” rating in a report on Thursday, May 4th. Finally, ValuEngine downgraded CenturyLink from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. CenturyLink currently has a consensus rating of “Hold” and a consensus target price of $26.22.
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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