Engine Capital Management LLC Has $378,000 Position in CenturyLink, Inc. (CTL)
Engine Capital Management LLC boosted its position in CenturyLink, Inc. (NYSE:CTL) by 100.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the technology company’s stock after acquiring an additional 10,000 shares during the quarter. CenturyLink accounts for about 0.3% of Engine Capital Management LLC’s holdings, making the stock its 21st biggest holding. Engine Capital Management LLC’s holdings in CenturyLink were worth $378,000 at the end of the most recent reporting period.
A number of other large investors have also recently modified their holdings of CTL. Vanguard Group Inc. increased its stake in CenturyLink by 22.6% in the second quarter. Vanguard Group Inc. now owns 57,351,163 shares of the technology company’s stock valued at $1,369,547,000 after purchasing an additional 10,583,246 shares during the last quarter. Capital World Investors purchased a new position in CenturyLink in the second quarter valued at approximately $142,086,000. Standard Life Investments LTD purchased a new position in CenturyLink in the second quarter valued at approximately $112,613,000. Fiduciary Management Inc. WI purchased a new position in CenturyLink in the second quarter valued at approximately $86,411,000. Finally, Samlyn Capital LLC purchased a new position in CenturyLink in the second quarter valued at approximately $80,290,000. 82.32% of the stock is currently owned by hedge funds and other institutional investors.
In related news, CEO Glen F. Post III purchased 50,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The stock was purchased at an average cost of $14.17 per share, with a total value of $708,500.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Martha Helena Bejar purchased 7,000 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were bought at an average cost of $14.28 per share, with a total value of $99,960.00. Following the completion of the acquisition, the director now owns 25,991 shares of the company’s stock, valued at $371,151.48. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 145,500 shares of company stock valued at $2,075,260. Corporate insiders own 0.61% of the company’s stock.
Shares of CenturyLink, Inc. (NYSE CTL) traded up $0.57 on Monday, hitting $14.67. 15,068,600 shares of the stock were exchanged, compared to its average volume of 10,852,934. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.92. CenturyLink, Inc. has a twelve month low of $13.16 and a twelve month high of $27.61. The stock has a market capitalization of $15,682.27, a price-to-earnings ratio of 7.56, a PEG ratio of -4.59 and a beta of 0.79.
CenturyLink (NYSE:CTL) last issued its quarterly earnings results on Wednesday, November 8th. The technology company reported $0.42 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). CenturyLink had a return on equity of 7.99% and a net margin of 1.89%. The company had revenue of $4.03 billion for the quarter, compared to analyst estimates of $4.06 billion. During the same period in the prior year, the business earned $0.56 earnings per share. CenturyLink’s revenue for the quarter was down 7.9% compared to the same quarter last year. analysts expect that CenturyLink, Inc. will post 1.6 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be issued a dividend of $0.54 per share. This represents a $2.16 annualized dividend and a dividend yield of 14.72%. The ex-dividend date is Friday, November 24th. CenturyLink’s dividend payout ratio is presently 372.42%.
Several equities analysts have commented on the stock. ValuEngine upgraded shares of CenturyLink from a “hold” rating to a “buy” rating in a research note on Friday, August 18th. Royal Bank Of Canada reiterated a “hold” rating and issued a $25.00 price target on shares of CenturyLink in a research note on Monday, September 18th. Zacks Investment Research lowered shares of CenturyLink from a “hold” rating to a “strong sell” rating in a research note on Friday, August 25th. Morgan Stanley dropped their price target on shares of CenturyLink from $27.00 to $26.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 23rd. Finally, J P Morgan Chase & Co reiterated a “buy” rating and issued a $26.00 price target on shares of CenturyLink in a research note on Thursday, November 9th. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. CenturyLink currently has a consensus rating of “Hold” and an average target price of $23.07.
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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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