Invictus RG Acquires New Position in Centurylink Inc (CTL)
Invictus RG acquired a new stake in shares of Centurylink Inc (NYSE:CTL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,987 shares of the technology company’s stock, valued at approximately $254,000.
Several other large investors have also recently modified their holdings of CTL. Temasek Holdings Private Ltd raised its stake in shares of Centurylink by 16.4% during the second quarter. Temasek Holdings Private Ltd now owns 123,201,207 shares of the technology company’s stock valued at $2,296,470,000 after acquiring an additional 17,339,784 shares during the last quarter. Madison Investment Holdings Inc. bought a new position in shares of Centurylink during the second quarter valued at about $24,058,000. Massachusetts Financial Services Co. MA bought a new position in Centurylink in the third quarter worth about $27,149,000. Canada Pension Plan Investment Board raised its stake in Centurylink by 1,198.3% in the second quarter. Canada Pension Plan Investment Board now owns 737,432 shares of the technology company’s stock worth $13,746,000 after buying an additional 680,630 shares in the last quarter. Finally, Systematic Financial Management LP bought a new position in Centurylink in the third quarter worth about $13,939,000. 75.22% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Centurylink from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Thursday. ValuEngine downgraded shares of Centurylink from a “buy” rating to a “hold” rating in a research note on Friday, November 23rd. Moffett Nathanson set a $16.00 price target on shares of Centurylink and gave the stock a “sell” rating in a research note on Monday, November 19th. Oppenheimer decreased their price target on shares of Centurylink from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, November 9th. Finally, Cowen reissued a “hold” rating and issued a $21.00 price target on shares of Centurylink in a research note on Friday, November 9th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.85.
Centurylink (NYSE:CTL) last announced its quarterly earnings data on Thursday, November 8th. The technology company reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.88 billion. Centurylink had a net margin of 7.81% and a return on equity of 4.45%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, equities analysts anticipate that Centurylink Inc will post 1.15 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Monday, November 26th were issued a $0.54 dividend. This represents a $2.16 dividend on an annualized basis and a yield of 12.36%. The ex-dividend date of this dividend was Friday, November 23rd. Centurylink’s dividend payout ratio (DPR) is presently 146.94%.
In other Centurylink news, EVP Scott Trezise sold 53,164 shares of the company’s stock in a transaction dated Tuesday, December 4th. The shares were sold at an average price of $18.88, for a total value of $1,003,736.32. Following the sale, the executive vice president now owns 187,867 shares in the company, valued at $3,546,928.96. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.60% of the stock is currently owned by corporate insiders.
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CenturyLink, Inc provides various communications services to residential, business, wholesale, and governmental customers primarily in the United States. It operates in two segments, Business and Consumer. The company offers virtual private network data network services; Ethernet services; Internet protocol services; CenturyLink Prism TV that allows customers to watch television or cable channels and record up to four shows on one home digital video recorder; and Vyvx, which provides audio and video feeds over fiber or satellite for broadcast and production customers, as well as satellite digital television services.
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