PVG Asset Management Corp lessened its holdings in CenturyLink, Inc. (NYSE:CTL) by 28.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 382,350 shares of the technology company’s stock after selling 150,861 shares during the period. CenturyLink comprises 3.4% of PVG Asset Management Corp’s investment portfolio, making the stock its 7th biggest holding. PVG Asset Management Corp owned 0.07% of CenturyLink worth $9,131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Tower Research Capital LLC TRC acquired a new stake in shares of CenturyLink in the 2nd quarter worth about $197,000. The Manufacturers Life Insurance Company raised its holdings in shares of CenturyLink by 68.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,004,902 shares of the technology company’s stock worth $47,877,000 after acquiring an additional 813,056 shares during the last quarter. Engine Capital Management LLC acquired a new stake in shares of CenturyLink in the 2nd quarter worth about $239,000. Gyroscope Capital Management Group LLC acquired a new stake in shares of CenturyLink in the 2nd quarter worth about $5,267,000. Finally, Moors & Cabot Inc. raised its holdings in shares of CenturyLink by 2.8% in the 2nd quarter. Moors & Cabot Inc. now owns 19,082 shares of the technology company’s stock worth $457,000 after acquiring an additional 512 shares during the last quarter. Institutional investors own 83.04% of the company’s stock.

Shares of CenturyLink, Inc. (NYSE CTL) traded down 0.10% during midday trading on Friday, reaching $20.00. 9,356,432 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $19.38 and a 200-day moving average of $22.97. CenturyLink, Inc. has a 12-month low of $18.17 and a 12-month high of $33.45. The stock has a market capitalization of $10.99 billion, a P/E ratio of 28.99 and a beta of 0.89.

CenturyLink (NYSE:CTL) last announced its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). CenturyLink had a return on equity of 8.43% and a net margin of 2.20%. The company had revenue of $4.09 billion during the quarter, compared to the consensus estimate of $4.09 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s revenue was down 7.0% compared to the same quarter last year. Analysts anticipate that CenturyLink, Inc. will post $1.94 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Tuesday, September 5th were paid a $0.54 dividend. The ex-dividend date was Thursday, August 31st. This represents a $2.16 dividend on an annualized basis and a dividend yield of 10.80%. CenturyLink’s dividend payout ratio is presently 313.04%.

A number of equities research analysts recently weighed in on CTL shares. ValuEngine lowered shares of CenturyLink from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Barclays PLC lowered their target price on shares of CenturyLink from $24.00 to $23.00 and set an “underweight” rating on the stock in a report on Thursday, June 29th. Cowen and Company upped their target price on shares of CenturyLink from $25.00 to $27.00 and gave the stock a “market perform” rating in a report on Wednesday, July 5th. BidaskClub lowered shares of CenturyLink from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, Morgan Stanley lowered their target price on shares of CenturyLink from $27.00 to $26.00 and set an “overweight” rating on the stock in a report on Wednesday, August 23rd. Five investment analysts have rated the stock with a sell rating, seven have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $25.55.

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CenturyLink Company Profile

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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Institutional Ownership by Quarter for CenturyLink (NYSE:CTL)

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